The SAND coin price action shows a growth of 12.50% in the last 24 hours, with a lower price rejection indicating a potential bullish reversal.

The overnight growth of 9.66% in the SAND coin price marks the potential end of the correction phase as the buying pressure increases. The price action sustains above the $3 mark and hints at a daily chart's bottom creation. However, the possibility of a $3 fallout indicates the threat of a bearish takeover. Will the downfall regain momentum?
<h2>Key technical points:</h2>
<ul>
 	<li style="font-weight: 400">SAND coin price sustains above the $3 mark.</li>
 	<li style="font-weight: 400">The price chart shows a bearish crossover of the 50 and 100-day EMAs. </li>
 	<li style="font-weight: 400">The 24-hour trading volume in the SandBox token is $1.31 Million, indicating a 4% fall. </li>
</ul>
<h2>Past Performance of SAND</h2>
The SAND token price continues the downfall from the 50-day EMA as it fails to sustain above the $4 mark. The rejection from the $4.35 mark resulted in a decline of 32% last week. Moreover, the downfall breaks below the 200-day EMA and consolidates below it. 

<img src="https://s3.tradingview.com/snapshots/g/gnOedaYV.png" alt="TradingView Chart" />

Source-<a href="https://www.tradingview.com/x/gnOedaYV/">Tradingview</a>
<h2>SAND Technical Analysis </h2>
The SAND coin price action resembles the movement observed in the last week of January near the 200-day EMA. Moreover, the lower price rejection of more than 10% last night increases the possibility of a bullish reversal.

The crucial 50, and 100-day EMAs give a bearish crossover in the daily SAND/USD chart resulting in the increased bearish attention. Moreover, despite the lower price, rejection-led growth fails to rise above the 200-day EMA.

The RSI Indicator slope hovers above the oversold boundary, with the 14-day SMA breaking below the central line. Moreover, the slope shows a bullish divergence in the last two dips at $3. Hence, the indicator reflects the possibility of a reversal. 

The DMI indicator shows a rising trend of bearishness as the -DI lines rise higher with the falling +DI line. The gradual growth in the ADX line reflects the rise in the trend momentum.

<img class="aligncenter size-full wp-image-228275" src="https://www.cryptoknowmics.com/news/wp-content/uploads/2022/02/Screenshot_22.png" alt="" width="1427" height="549" />

As per the GIOM indicator, 66% of the total addresses are out of money, indicating that their buying/holding price is more than the market price. Hence, these addresses are at a loss. Moreover, the resistance clusters are significantly stronger looking than the support ones. Therefore, the bullish reversal might face an early setback. 

In conclusion, the SAND technical analysis showcases the possibility of a reversal against the strong resistance zones above the market price.
<h2>Upcoming Trend</h2>
The SAND coin price shows the possibility of a reversal from the $3 is high, but the extensively stronger resistances warn of an early failure. Hence, traders must wait for the price to sustain above the dynamic EMAs before taking a bullish trade. 

Support Levels: $2.75 and $2.30

Resistance Levels: $3.15 and $3.50

SAND Technical Analysis: Rejection Hints The End Of Correction Phase

The SAND coin price action shows a growth of 12.50% in the last 24 hours, with a lower price rejection indicating a potential bullish reversal.

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: Rejection Hints The End Of Correction Phase

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