$ 105,658.9
BTC
2.56 %
$ 2,550.22
ETH
7.78 %
$ 0.7406
ADA
2.62 %
$ 649.83
BNB
2.13 %
$ 169.14
SOL
3.47 %

Peter Oleshchuk
Mar 23, 2022

SAND Technical Analysis: Cryptocurrency Is Ready For Growth

SAND
24th of November- it was on this day that the active phase of SAND growth ended and buyers gave their initiative. It was from this date that the long-term correction in the SAND market began, which corrected the growth wave from October by about 70%. During the whole period of SAND price correction, the trading volumes decreased significantly. This fact indicates the reluctance of large investors to fix profits and give up their positions. Therefore, the probability of the beginning of the formation of the SAND cryptocurrency's new growth wave is quite high.

SAND

At the time of writing, the price is near the important liquidity zone of $2.7. At this critical point, buyers have been in circulation since mid-January 2022. And since the end of February 2022, the SAND market has formed a fairly narrow consolidation in the range of $2.7-$3.5. If buyers manage to keep the $2.7 mark and take control of the $3.5 mark in March, the baseline scenario for the SAND price will grow to $5.2.

However, even if sellers break the $2.7 mark, the positive trend in the SAND market will continue. The fact is that the SAND price from January 2021 is moving in the global growth channel. The bottom line of the global growth channel is close to $1.7. Therefore, in the case of a deep correction of the BTC price and its return to the range of $38,000-$39,000 SAND cryptocurrency may make the final fall wave. Therefore, investing in SAND should allocate capital so that there was an opportunity to buy more.

Technical Analysis Of SAND On The Daily Timeframe

TradingView Chart

Analyzing the movement of the SAND price on the daily timeframe, you can see the confident movement of the price to break the local correction channel of the fall. At the time of writing, the SAND price is still in the correction channel. But, to break it, buyers just need to take control of the $3.5 mark. In addition to the fact that this is the upper limit of local consolidation, which we talked about above, in this note is the upper trend line of the fall channel. Taking control of $3.5 will be the first signal of sellers' weakness. The final target for hacking sellers' initiative is to fix above the $4.87 mark.

In the daily timeframe we see that on 8 February it was at this point that sellers managed to stop the counterattack of buyers and organize another fall wave by 44%. These two targets will ensure a complete reversal of the trend in the SAND market and pave the way for a global target of $7.9.

The SANDBTC Price Hints At The Reversal Beginning

TradingView Chart

Both on the weekly and in the daily timeframe of the SANDBTC price, you can see clear signals of completion of the correction. Though, if on the weekly timeframe we see a price stop and readiness to grow, the daily timeframe shows a more detailed picture. Pay attention to the trading volumes starting from 17 March. They have significantly grown.

However, even due to increased trading volumes, sellers are not able to easily lower the SANDBTC price and absorb the daily candle from 16 March. By keeping the local mark 0.000072, buyers will prove that the power in the SANDBTC market has changed and it is worth waiting for the growth impulse with the first target of 0.000088 and the final - 0.00011.

SAND Technical Analysis: Cryptocurrency Is Ready For Growth
Peter came to know about cryptocurrencies in 2017 and was instantly enamoured by their massive potential. As he gained more insights about the crypto market, he began writing about it. Peter's daily activity is analysis and forecasting, studying the price movements probabilities, and trying to understand the market inside. He is glad to witness such a phenomenon as cryptocurrency and decentralized finance, and to participate in it.

Related News

Bitcoin Records Highest Weekly Close Following Significant Daily Price Increase
LIVE CRYPTO NEWS

Bitcoin Records Highest Weekly Close Following Significant Daily Price Increase

Bitcoin (BTC) has achieved its highest weekly closing price in recent history, driven by a substantial surge in its daily price. This development signals strong bull ...
Ajay AgarwalMay 19, 2025
Factors That Could Propel XRP to Become a Leading Market Mover
LIVE CRYPTO NEWS

Factors That Could Propel XRP to Become a Leading Market Mover

XRP has the potential to become a significant driver of market activity, but certain key developments need to occur. These factors could catalyze substantial price m ...
Sujit KumarMay 17, 2025
Bitcoin's Path to $100K: Balancing Institutional Demand and Liquidity
LIVE CRYPTO NEWS

Bitcoin's Path to $100K: Balancing Institutional Demand and Liquidity

Bitcoin’s potential to reach the $100,000 price target presents a complex puzzle involving the interplay of institutional demand and potential “liquidity ...
Sujit KumarMay 17, 2025
CZ Warns Crypto Users About Rising Phishing Attacks
LIVE CRYPTO NEWS

CZ Warns Crypto Users About Rising Phishing Attacks

Changpeng Zhao (CZ), the CEO of Binance, has issued an urgent warning to cryptocurrency users about the increasing prevalence of phishing attacks. CZ is urging the c ...
Ajay AgarwalMay 17, 2025
PinkSale AutoStakeYield Fair Launch ad
XRP Price Analysis: Potential for $3 Target After Key Market Action
LIVE CRYPTO NEWS

XRP Price Analysis: Potential for $3 Target After Key Market Action

XRP’s price trajectory is drawing attention from analysts, with some suggesting the possibility of a move towards the $3 price target. This bullish outlook is ...
Sujit KumarMay 16, 2025