The Sandbox (SAND)

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SAND/USDT Analysis 📊

Recently, SAND has demonstrated significant performance, managing to shift its trajectory from a descending channel and reach the top of an ascending channel. Below is a more detailed analysis of the current situation and potential scenarios:

⚖️ Current Situation:

Breakout from the Descending Channel: SAND has exited the descending channel and is currently undergoing a pullback. This move started from the support zone (0.19 – 0.23 USD).

Current Correction: The upward wave has corrected to the 0.5 Fibonacci zone (0.45 – 0.49 USD). This level is a key zone for the continuation of the trend.

Red Resistance Zone: The price is currently facing significant resistance in the range of (0.8 – 0.99 USD). A successful close above this level is crucial for the continuation of the uptrend.

🔍 Upcoming Scenarios:

Bullish Scenario:
If the price manages to break and sustain above the red resistance zone (0.8 – 0.99 USD), the following targets become achievable:

1.618 Fibonacci: 1.41 – 1.69 USD
2.272 Fibonacci: 2.42 – 2.9 USD
2.618 Fibonacci: 3.94 – 4.98 USD
High volume entry during the breakout of the red resistance zone is essential.

Bearish Scenario:
If the price fails to break through the red resistance zone, a deeper correction is likely:

0.618 Fibonacci level: 0.4 – 0.43 USD
Green PRZ Zone: If the 0.618 Fibonacci level is lost, the price might drop to this zone, which includes daily resistance and the middle line of the channel.
⚙️ RSI Indicator:

RSI Support: The trendline connecting the RSI lows can serve as support during a price correction. The range (33.88 – 39.26) is key for RSI support.

Entry into Overbought Zone: RSI movement towards the overbought zone can push the price toward higher targets. Overextended zones (86.33 – 92.15) are accessible.

RSI Middle Line: This line could act as support and help stabilize the uptrend.

⚡️ Key Points:

Red Resistance Zone (0.8 – 0.99 USD): Sustaining above this zone is crucial for the continuation of the uptrend.

Formation of Strong Bullish Candles and Significant Volume: Strong bullish candlestick formations and a sharp increase in volume can confirm the breakout of this resistance.

Volume Consideration: High volume entry during the breakout of the resistance zone is a positive signal.

Price Behavior at the 0.5 Fibonacci Level: This level serves as the primary initial support.

PRZ Support Zone: In case of a correction, this zone (overlapping with daily resistance and the middle line of the channel) could prevent further price declines.

🔔 Summary:

The technical analysis of SAND indicates that after breaking out of the descending channel, the price is at a critical stage. A breakout above the red resistance zone (0.8 – 0.99 USD) could open the path for higher targets. However, traders should pay close attention to price behavior around key support and resistance zones and should not neglect risk management.

🟠 Practical Suggestions:

For Entering a Trade: Wait for a breakout of the red resistance zone along with high volume.

Risk Management: Diversify your capital into multiple parts and set stop-loss orders below key support levels.

Stay Updated: Given the constantly changing market conditions, staying updated with new analyses is essential.

⏰ Stay tuned for the next updates!