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.
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.
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.