The SAND prices showcase an overnight increase of 16% but struggle to surpass the $1.45 level teasing a reversal to the $1.30. Key Technical Points: The SAND prices jumped by 7.26% in the last 24 hours. However, the bullish trend struggles to surpass the $1.45 resistance level. The 24-hour trading volume of Sandbox is $1.018 Billion, indicating a rise of 177%. Past Performance of SAND During the early-June sell-off, the SAND holder lost the $1.27 support and plunged to a new 2022 low mark of $0.737. However, the coin price showcased a sharp recovery from this level and attempted to breach the flipped resistance of $1.27. Since last month, the coin chart showed several failed attempts to break this resistance, eventually revealing an ascending triangle pattern. Source – Tradingview SAND Technical Analysis The higher low formation within this pattern reflected a gradual growth in bullish momentum, indicating the buyers are wrestling for trend control. As a result, on July 18th, the buyers gave a massive breakout from the $1.27 neckline, supported by a significant pump in volume. Today, the SAND price is 0.21% down, and the long-wick rejection attached to the daily candle may encourage a $1.27 retest. The increased buying pressure last night influenced the MACD and signal lines to gain a bullish spread and drive the RSI slope to approach the overbought boundary. Hence the momentum indicators maintain a bullish bias, opposing the ...
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