SAND coin price hints at a downside risk of 15% if the bulls fail to transcend the long-coming resistance trendline or is it a bearish masquerade?

Key technical points:
<ul>
 	<li style="font-weight: 400">SAND coin price trades below the daily support of $2.8</li>
 	<li style="font-weight: 400">The daily chart shows a downfall of 6% in the last 36 hours</li>
 	<li style="font-weight: 400">The 24-hour trading volume in the SandBox Token is $452 Million, marking a 23% fall. </li>
</ul>
<h2>Past Performance of SAND</h2>
SAND coin price fails to sustain above the 200-day EMA despite the reversal from the $2.90 support level. The following downfall breaks below the support level and forms a bottom at $2.808. However, the recent rise in the underlying bearishness breaks below the $2.80 mark and hints at a downtrend continuation.

<img src="https://s3.tradingview.com/snapshots/x/xWLwlDiF.png" alt="TradingView Chart" />

Source-<a href="https://www.tradingview.com/x/xWLwlDiF/">Tradingview</a>
<h2>SAND Technical Analysis </h2>
SAND coin prices may generate a buy signal with closing below the $2.80 mark, resulting in a price fall to $2.30. However, a lower price rejection is possible, as seen thrice before from the $2.61 mark. Hence, traders must wait for a price action confirmation.

The crucial daily EMAs maintain a downtrend as the 50-day EMA approaches the 200-day EMA increasing the chances of a death cross. 

RSI Indicator: The RSI slope continues the sideways march showing no indication of a divergence in the price chart. The RSI slope offers support at 36%, and a downfall below will give a selling opportunity.

Stochastic RSI Indicator: The K and D lines fail to give a bullish spread and undermine the positive crossover as the lines succumb under bearish pressure. Therefore, a high likelihood of a negative crossover hints at a downfall below $2.80.

In short, SAND technical analysis gives a bearish vibe as the sellers outpass the $2.80 threshold.
<h2>Upcoming Trend</h2>
SAND coin price might touch the $2.30 mark shortly if the sellers achieve a closing below the $2.80 support level. The free fall will account for a discount of 15% of the current market price. However, a lower price rejection from the $2.60 mark will delay the downfall.

Support Levels: $2.60 and $2.30

Resistance Levels: $3 and $3.15

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SAND Technical Analysis: Bears Create A Downside Risk of 15%

SAND coin price hints at a downside risk of 15% if the bulls fail to transcend the long-coming resistance trendline or is it a bearish masquerade?

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

SAND Technical Analysis: Bears Create A Downside Risk of 15%

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