As sellers overtake the market, SAND prices crumble beneath the $1 mark and approach the upcoming support at the $0.68 mark. Key technical points: The market price has decreased 16.98% over the past 24 hours. The falling trend cracks under the crucial support level of $1. The 24-hour trading volume of Sandbox is $461 Million, indicating a hike of 22%. Past Performance of SAND The consolidation range between $1 and $1.45 fails to contain the downtrend in SAND prices as the selling pressure grows drastically with the falling global markets. The downtrend cracks under the psychological support level at $1, with a 40% fall over the week. Moreover, the rising trend in trading volume continues to reflect a boom in selling pressure due to panic selling. Source- Tradingview SAND Technical Analysis SAND prices continue the bearish candle formation and lower the possibility of retesting the broken consolidation range. Hence, the bearish candle may shortly creep below the $0.68 mark and result in a further fall in market price. The crucial Exponential Moving Averages – 50, 100, and 200-days maintain a falling trend with a bearish alignment as the correction phase continues. With the start of negative histograms, the MACD and signal lines display a bearish crossover as the selling pressure grows drastically. Moreover, the RSI slope cracks under the oversold boundary reflecting a surge in selling activity. As a result, the technical indica...
