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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:
- The SAND coin price sustains above $3
- The MACD indicator shows a bullish crossover
- The 24-hour trading volume in the Sandbox token is $1.44 Million, indicating a 21% rise.
Past Performance of SAND
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. 
Source-Tradingview
SAND Technical Analysis
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.
Upcoming Trend
The SAND 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