📈SAND Futures: Short-Term Trading Analysis⚡️
🔍Exploring SAND, a metaverse venture with long-term potential, we shift our lens to short-term trading prospects within SAND futures, scrutinizing a 4-hour timeframe.
📈Beginning with candlestick analysis, SAND witnessed a notable decline post-breaking the 0.5629 support, settling near 0.382, thereby forming a consolidation zone between 0 and 0.382. The duration of this range remains uncertain.
💥RSI, after touching a support level at 13, now stabilizes around 50, signaling a reset amid price stabilization. Await RSI's confirmation as it forms a new structure. Meanwhile, volume diminishes post-reaching the 0.4050 floor, synchronizing with the consolidation phase, implying reduced activity during price correction.
📉For potential short positions, monitor a breach below 0.4050, presenting potential entry points, with an initial target set at 0.3647. Conversely, exercise patience for long positions, awaiting confirmation near 0.4710 or a bullish move followed by a correction.
📝Stay vigilant as SAND's short-term trajectory unfolds, capitalizing on emerging opportunities while navigating market dynamics.
🧠💼It's important to acknowledge the inherent risks in futures trading, with the potential for margin calls if risk management is neglected. Always adhere to strict capital management principles and utilize stop-loss orders, ensuring that the initial target offers a risk-to-reward ratio of 2
📈Beginning with candlestick analysis, SAND witnessed a notable decline post-breaking the 0.5629 support, settling near 0.382, thereby forming a consolidation zone between 0 and 0.382. The duration of this range remains uncertain.
💥RSI, after touching a support level at 13, now stabilizes around 50, signaling a reset amid price stabilization. Await RSI's confirmation as it forms a new structure. Meanwhile, volume diminishes post-reaching the 0.4050 floor, synchronizing with the consolidation phase, implying reduced activity during price correction.
📉For potential short positions, monitor a breach below 0.4050, presenting potential entry points, with an initial target set at 0.3647. Conversely, exercise patience for long positions, awaiting confirmation near 0.4710 or a bullish move followed by a correction.
📝Stay vigilant as SAND's short-term trajectory unfolds, capitalizing on emerging opportunities while navigating market dynamics.
🧠💼It's important to acknowledge the inherent risks in futures trading, with the potential for margin calls if risk management is neglected. Always adhere to strict capital management principles and utilize stop-loss orders, ensuring that the initial target offers a risk-to-reward ratio of 2
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.