SAND coin price fails to continue the retest rally and falls below the 50 and 100-day EMAs. Is this the start of another downtrend? The SAND coin price retests the cup and handle breakout at the $4 support zone resulting in a rally above the 50-day EMA. However, the buyers fail to sustain the uptrend and retrace back to the $4 mark. Will this downfall result in a breakout below $4? Key technical points: The coin price retests the $4 mark. The MACD indicator shows the MACD and signal lines merging near the zero mark. The 24-hour trading volume in the SandBox token is $1.04 Billion, indicating a 5.38% fall. Past Performance of SAND With the SAND coin price breaking above the cup and handle, the rally hits the $4.88 mark but fails to continue the uptrend resulting in a downfall. The downfall retests the neckline of the cup and handle pattern at $4. The post-retest reversal bounces above to the $4.40 but the sudden rise in selling pressure kicks the price back to the $4 support zone. Currently, the SAND coin price trades at $4.05, with a price fall of 5.68% in the last 24 hours as the selling pressure grows. Source-Tradingview SAND Technical Analysis The SAND coin price action creates a symmetrical triangle pattern in the daily chart. Presently, the price rests near the support trendline and the $4 support zone. Hence, the confluence of such demand-rich support areas indicates a high possibility of a bullish reversal. The flattish...
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