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SANDUSDT trade ideas

SANDUSDT DOWNTREND CONTINUATION OR REVERSAL ? Hello Traders, Before we start to discuss, I'll be so glad if you share your opinion on this post's comment section and hit the like button if you enjoyed it! - Checking our 1D time chart frame we can see that SAND is in bearish mode that began in November 2021, price action has responded to a descending trendline and tumbled 75.4% from the All-Time High of $8.44. The traders are actively selling at this upper trendline, restricting any significant bull run. -On the other hand, the buyers had defended the $2.6 support since last quarter, preventing any excessive loss. Thus, the price action got sandwiched between the descending trendline and stiff support, yet buyers failed to hold this important support level and the price went down to psychological support 2$ , moreover on April 30th the sellers managed a daily candle closing below the $2 support, suggesting another leg down. However, this breakdown was not that significant, and the price jumped above $2 soon after. The $2 support is an important support level ( demand zone ) as well acting as an psychological support . - I suggest 2 scenarios : - Bullish scenario : Buyers will try to push the price again to S/R $2.6 , breaking this level will give us a sign that buyers trying to take control and will push the price higher in order to break the descending trendline which it will be our trigger for bullish reversal uptrend - Bearish Scenario : In attempt for a pullback , buyers are facing a stiff S/R $2.6 and 20 EMA acting as dynamic resistance to this price which will cause the price to dip again to level support $2 then price would accumulate for a certain time or even price can continue its downward move to level support $1.11 . Until now SAND is still trading in bearish mode until a new confirmation from buyers , will be watching 1D candle close above this level support $2 to take an idea where the next move would take in Good Luck Traders!
by Johnny_a88
📊SAND: is huge PUMP coming? Half-year downtrend come to an end!🎯Sandbox (SAND) is one of the top game-fi projectsand has been in a downtrend for 161 days. The price has fallen from the highs by 78%. Traders with margin positions were liquidated on the last DUMP - this is shown by Volumes. 🔶 On the chart I have marked such important zones: support zone - $1.99-$2.20 huge value zone - $2.47-3.35 value zone - $3.97-$4.33 I mark these zones with horizontal volumes. If you don't know how to use them, let me know in comments! I`ll make a education idea for you! The price rebounded from the $1.99-2.20 support zone and broke the trend line. But a local pullback is possible. Globally , it is important to look at the price reaction when the global trend line is tested. If the price starts pushing under it, it is very possible for SAND to reach the zone of $3.96-4.33. After such a long downtrend, many traders and investors closed their positions at a loss or break-even and do not want to buy, although if Bitcoin continues its uptrend, the price may renew its ATH. Friends, press the "like"👍 button, write comments and share with your friends - it will be the best THANK YOU. P.S. Personally, I open an entry if the price shows it according to my strategy. Always do your analysis before making a trade.
by Yuriy_Bishko
5
SANDUSDTHI guys I'm here with a new analyze of The Sandbox coin Is forming a compound correction and the place of it is Wave 4 The first section of corrective phase is a Zigzag and the second one is a Flat Flat has 3 waves(a,b and c) that are shown in red in the box named Flat on chart The wave C of Flat has made of 5 elliot waves that 3 of it has formed and we will have wave 4 and 5 At the end of the wave 5 we can open a long order we can find the end of the correction(the wave 4) with pitchfork or fibonachi clusters
Long
by Mahsamahdavi_trader
2