SAND coin price retraces to the $3 mark as the seller's-driven trend gains momentum. Will bears take down the psychological support?

Key technical points:
<ul>
 	<li>The SAND coin price sustains above $3</li>
 	<li>The MACD indicator shows a bullish crossover </li>
 	<li>The 24-hour trading volume in the Sandbox token is $1.44 Million, indicating a 21% rise. </li>
</ul>
<h2>Past Performance of SAND</h2>
The SAND coin price propelled higher due to the active buying spree to capture the dip after a week of consolidation. However, the altcoin failed to sustain above the 200-day EMA, resulting in the downfall to the psychological support of $3. The constant support near the $3 mark brings the possibility of a reversal, despite the recent 15% downfall in the last 72 hours.

<img src="https://s3.tradingview.com/snapshots/y/YnYfu2A5.png" alt="TradingView Chart" />

Source-<a class="editor-rtfLink" href="https://www.tradingview.com/x/YnYfu2A5/" target="_blank" rel="nofollow noopener">Tradingview</a>
<h2>SAND Technical Analysis</h2>
The SAND coin price action shows increased selling pressure as it fails to sustain above $3.5. Hence, the chances of a downfall below the emotional support of $3 are significantly increasing.

The crucial Exponential Moving averages show a weak bullish alignment as the 50 and 100-day EMAs give a bearish crossover. Moreover, the prices recently crossed below the 200-day EMA, indicating the increased seller's control over the trend.

The Stochastic RSI indicator shows the K and D lines failing to rise above the overbought boundary resulting in a bearish crossover. Hence, the indicator projects the end of the bull cycle. 

The RSI Indicator slope sustains above the 14-day average despite the failure to rise above the 50% line. Moreover, the RSI slope shows a bullish divergence in the past three dips on $3. Hence, the chances of a bullish reversal are significantly high.

In a nutshell, the SAND technical analysis projects increased volatility that may shortly bring a sharp move.
<h2>Upcoming Trend</h2>
The <a href="https://www.cryptoknowmics.com/news/the-sandbox-metaverse-game-hits-2m-registered-users/">SAND</a> coin price gains bearish momentum and hints at surpassing the $3 mark shortly. However, the RSI divergence projects increased the chances of reversal. Hence, traders can soon find a considerable momentum release on either side. The price action confirmation is a must to avoid traps hidden in the price chart to ride the trend.  

Resistance Levels: $3.66 and $4.5

Support Levels: $3 and $2.5

SAND Technical Analysis: Should You Buy The Dips in SandBox? 

SAND coin price shows an active buying spree near $3, resulting in a 15% recovery. Will the resurfacing bulls break above the resistance trendline?

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

SAND Technical Analysis: Should You Buy The Dips in SandBox?

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