SAND Technical Analysis: Crossroads at $4 Increases Volatility

The SAND coin price retraces to the support trendline as it retests the bullish breakout of $4. Will the retest bring bullish reversal? SAND is an ERC-20 token that powers these ecosystem’s exchanges and interactions. For instance, you pay SAND tokens in order to participate in games, buy equipment, or to customize your avatar. In the future, SAND will also serve as a governance token that allows its owners to participate in influence on the changes to the ecosystem once The Sandbox DAO is created. SAND is also a way to purchase ASSETS as well as LANDS, digital pieces of real estate that are represented by ERC-721 tokens that are NFTs. The players can make use of their LANDS, which is a digital plot of 96×96 meters to host the games as well as ASSETS. Let us move ahead to read about SandBox technical analysis. Past Performance of SAND SAND token price shows a growth of 40% within a fortnight, resulting in an expanding channel in the daily chart. The price action shows a reversal near the support trendline and marks a retest of the cup and handle breakout at $4. Moreover, the price action shows lower price rejection near the 100-day EMA which showcases the possibility of a bullish reversal. SAND/USD Daily Chart SAND Technical Analysis The SAND coin price showing a reversal from $5 accounts for a 15% downfall and an increase in trend momentum. Hence, the chances of a bullish reversal are decreasing. Therefore, traders need to wa...