The SAND Technical Analysis shows that SAND price has fallen drastically over the last 48 hours leading to a failed cup and handle pattern and risks of losing the $1 support level. Key Technical Points: SAND prices have decreased by 0.48% in the last 24 hours. The price action shows a bullish failure to exceed the neckline of the cup and handle pattern at $1.35. The 24-hour trading volume of Sandbox is $302 Million, indicating a rise of 44%. Past Performance of SAND As mentioned in our previous article, the SAND price action shows the cup and handle pattern in the daily chart. However, the rejection on the 8th of July led to a bullish failure to surpass the neckline at $1.35, leading to a bearish retracement. The reversal breaks under the 50-day SMA to test the bottom support close to the psychological mark of $1. Source- Tradingview SAND Technical Analysis Over the past three days, the SAND prices have dropped by 16%, warning of a fallout rally under the $1 mark. Hence, traders can indeed find a selling opportunity to ride the bearish trend, which may lead to the $0.85 support level. The MACD indicator shows the bullish trend in the positive territory, taking a retracement, and warns of a bearish crossover leading to a downfall in the fast and slow lines. Hence, the technical indicator showcases a potential start of a bearish trend as the positive histograms crumble. The RSI indicator shows a dramatic fall in the underlying b...
