📈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
