SAND / TetherUSLong
SANDUSDT - LONG IDEA
Hello Traders,
Here’s a new analysis on SAND/USDT, as the stop-loss from the previous idea was triggered.
Currently, the price has entered a well-defined zone that has been subject to multiple rejections and retests over the past weeks. However, it is also reacting to a key confluence area, rejecting both an important trendline and the 0.618 Fibonacci retracement level (at 0.59).
For now, we’ll monitor the daily candle close to assess whether there’s a solid opportunity to open a long position.
If this pivot level is breached and a Break of Structure (BoS) begins to take shape, the more prudent approach will be to wait for the price to drop toward the 0.48 region before considering a long entry.
Here’s a new analysis on SAND/USDT, as the stop-loss from the previous idea was triggered.
Currently, the price has entered a well-defined zone that has been subject to multiple rejections and retests over the past weeks. However, it is also reacting to a key confluence area, rejecting both an important trendline and the 0.618 Fibonacci retracement level (at 0.59).
For now, we’ll monitor the daily candle close to assess whether there’s a solid opportunity to open a long position.
If this pivot level is breached and a Break of Structure (BoS) begins to take shape, the more prudent approach will be to wait for the price to drop toward the 0.48 region before considering a long entry.
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.