SAND/USDT Bracing for a Bullish Reversal? 👀 🚀Thesandbox💎 Paradisers, spotlight on #SANDUSDT as it crafts a compelling narrative in the current market landscape. Recently rebounding from resistance, it is now fortifying its position at a pivotal support level, signaling a potential upswing in its market journey.
💎 #TheSandbox, in its recent market dance, has elegantly maneuvered through descending channels, breaking upwards with notable momentum. After conquering the resistance at $.4759,it is now navigating the $.5978 level, retesting what seems to be transforming from resistance into a strategic support zone. This shift could potentially catapult NYSE:SAND into an upward trajectory, targeting higher resistance echelons.
💎 However, as we chart these digital sands, #SAND traders must remain astutely prepared for the market's dynamic tides. In the event that it encounters resistance headwinds and starts to waver, a pivot to a strategic rebound from the support level of $.3640 might be imperative.
💎 Should #SAND descend beneath this critical support threshold, a strategic recalibration becomes paramount. This situation would demand a nuanced reassessment of the bullish stance, requiring a savvy adaptation of trading strategies to the evolving contours of the market. 🌴💰
Sandust
The Sandbox (SAND) - June 17hello?
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(SANDUSDT 1W Chart)
Below 1.5294 is likely to be a mid- to long-term investment area.
So, whether it can move higher than 1.5294 is the key.
(1D chart)
In the short-term and medium-term perspective, it needs to rise above the 1.2907-1.5294 section to turn into an uptrend.
So, we need to see if we can find support and move higher above 0.7189.
An important volume profile section is formed around 0.2204.
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** All indicators are lagging indicators.
Therefore, it is important to be aware that the indicator will move accordingly as price and volume move.
However, for the sake of convenience, we are talking in reverse for the interpretation of the indicator.
** The MRHAB-T indicator used in the chart is an indicator of our channel that has not been released yet.
** The OBV indicator was re-created by applying a formula to the DepthHouse Trading indicator, an indicator disclosed by oh92. (Thanks for this.)
** Support or resistance is based on the closing price of the 1D chart.
** All descriptions are for reference only and do not guarantee a profit or loss in investment.
(Short-term Stop Loss can be said to be a point where profit and loss can be preserved or additional entry can be made through split trading. It is a short-term investment perspective.)
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Potential Boost coming for SANDOn a higher Time Frame, SAND is moving in a symmetrical triangle and on a lower TIme Frame, it is moving in upward channel.
Also it has found strong support on 1 Day 20 EMA.
So there are two potential scenarios here.
Scenario 1 (Black path) - SAND to move in an upward channel and break above Upper part of the symmetrical triangle
Scenario 2 (Red Path) - SAND to break below current channel and then find support on 1 day EMA before continuing its journey up.
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SAND/BTC (Potential Bearish Pattern?)💎Technical Analysis Summary💎
BINANCE: SANDBTC
-SAND broke its key level of support last Oct 19
-The price fell down to 291s sat level
-Currently, it is consolidating in a small range
-This might be a potential Bear flag
-By looking at the price action
-Though it is still an unconfirmed pattern
-I recommend to take caution and follow your stop-loss
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SAND/USDT (Broke Local Resistance)💎Technical Analysis Summary💎
BINANCE: SANDUSDT
-SAND broke the local resistance area with good volume
-It is now trying to move above the upper channel where Bulls have a slight edge
-If you will look at the bigger picture, SAND still within a large channel
-So be careful, things can go around within minutes
-If I'll be looking to enter for a Long position
-A healthy pullback to retest old resistance turning new support
-Would a be potential Buy signal provided there is Bullish reactions during pullback
-Upside target is up to 0.066 dollars
A big Thanks for donating 💰 via Tradingview coins this week to seba26-77 🙏🎉
``````````````````````````````````````````````
Trading Involves High Risk ⚠️
Not Financial Advice 💸
Please Exercise Risk Management 💱
``````````````````````````````````````````````
If You Like My Daily Published Ideas 👍
A little Help By Supporting My Channel 📺
Through Leaving A Thumbs Up, Comment & Follow 💬
Happy Trading! ➡️ Thank You! 😊
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