Massive Bearish Pressure Drives SAND toward $1.28 – May 24 Price Analysis

  • SAND presents bearishness today.
  • A sturdy resistance stood at $2.1
  • SAND has a stable support floor at $1.2.

Sandbox (SAND) price outlook shows the alternative token exhibited bearish bias as it revealed more bearish activities. The metaverse crypto plummeted beneath the $1.30 zone. May 24 sessions saw SAND/USD plunging towards $1.26 before rising to $1.28 – its current price. Bears drive the market for now. The Sandbox suffered a 9.4% decline within the past day.

Sandbox 4Hr Timeframe – Recent Developments

According to SAND price analysis, market volatility confirmed SAND’s decreasing characteristics. SAND/USD will react according to volatility fluctuations; before that, prices will remain steady near respective resistance and support boundaries. For now, the token seems less susceptible to volatile shifts. The BB’s upper limit served as a crucial resistance at $1.4. On the other hand, the Bollinger Band’s lower border represented support at $1.2.

SAND/USD price seems to cross beneath the MA curve, suggesting bearish tendencies. Moreover, SAND price maintains downtrends, revealing downside trends. The altcoin approached the support levels and breaching it might welcome further declines.

The Relative Strength Index stood at 41, showing that the alt stayed around the neutral’s lower regions near the devaluation territory. Also, RSI seems to follow a downside bias, affirming declines in SAND prices. The Relative Strength Index score decreases due to dominant selling activities.

1Day Timeframe – Market Shrinks

The daily chart has SAND’s volatility decreasing, meaning the altcoin will become less susceptible to a volatile shift. BB’s upper band serves as a critical resistance at $2.1, whereas Bollinger’s lower limit at $0.8 represents the SAND support floor.

The alt seems to cross beneath the MA curve, signaling bearishness. Bears might keep the market under control for some time as sentiments are in their favor, with the broad market flashing declines. That can see SAND violating its support barrier soon.

Final Thought

SAND price outlook shows bears in the front seats as the tokens seemed primed for further declines. Though the market exhibits reversal potential, that could take time. Nevertheless, SAND bulls can overtake the market in days or weeks.

Stay tuned for the latest updates.

Disclaimer: NFTs and Cryptocurrencies are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by our authors (namely Business Voices content) and the views expressed in these types of posts do not reflect the views of this website. Please read our full disclaimer here.

Leave a Reply