SAND Technical Analysis: Should You Buy The Dips in SandBox?

SAND coin price retraces to the $3 mark as the seller’s-driven trend gains momentum. Will bears take down the psychological support? Key technical points: The SAND coin price sustains above $3 The MACD indicator shows a bullish crossover The 24-hour trading volume in the Sandbox token is $1.44 Million, indicating a 21% rise. Past Performance of SAND The SAND coin price propelled higher due to the active buying spree to capture the dip after a week of consolidation. However, the altcoin failed to sustain above the 200-day EMA, resulting in the downfall to the psychological support of $3. The constant support near the $3 mark brings the possibility of a reversal, despite the recent 15% downfall in the last 72 hours. Source-Tradingview SAND Technical Analysis The SAND coin price action shows increased selling pressure as it fails to sustain above $3.5. Hence, the chances of a downfall below the emotional support of $3 are significantly increasing. The crucial Exponential Moving averages show a weak bullish alignment as the 50 and 100-day EMAs give a bearish crossover. Moreover, the prices recently crossed below the 200-day EMA, indicating the increased seller’s control over the trend. The Stochastic RSI indicator shows the K and D lines failing to rise above the overbought boundary resulting in a bearish crossover. Hence, the indicator projects the end of the bull cycle. The RSI Indicator slope sustains above the 14-day average d...