<em><strong>The SAND Technical Analysis shows that SAND price has fallen drastically over the last 48 hours leading to a failed cup and handle pattern and risks of losing the $1 support level.</strong></em>
<h3>Key Technical Points:</h3>
<ul>
 	<li>SAND prices have decreased by 0.48% in the last 24 hours.</li>
 	<li>The price action shows a bullish failure to exceed the neckline of the cup and handle pattern at $1.35.</li>
 	<li>The 24-hour trading volume of Sandbox is $302 Million, indicating a rise of 44%.</li>
</ul>
<h3>Past Performance of SAND</h3>
As mentioned in our <a href="https://www.cryptoknowmics.com/news/sand-technical-analysis-bullish-pattern-helps-sandbox-float-above-1" target="_blank" rel="nofollow noopener">previous article</a>, the SAND price action shows the cup and handle pattern in the daily chart. However, the rejection on the 8th of July led to a bullish failure to surpass the neckline at $1.35, leading to a bearish retracement. The reversal breaks under the 50-day SMA to test the bottom support close to the psychological mark of $1.

<img src="https://s3.tradingview.com/snapshots/y/yHQsJzUP.png" alt="TradingView Chart" />

Source- <a href="https://www.tradingview.com/x/yHQsJzUP/" target="_blank" rel="nofollow noopener">Tradingview</a>
<h2>SAND Technical Analysis</h2>
Over the past three days, the SAND prices have dropped by 16%, warning of a fallout rally under the $1 mark. Hence, traders can indeed find a selling opportunity to ride the <a href="https://www.cryptoknowmics.com/news/xrp-technical-analysis-xrp-usd-will-break-either-bullish-or-bearish-side-next-week/" target="_blank" rel="noopener">bearish</a> trend, which may lead to the $0.85 support level.

The MACD indicator shows the bullish trend in the positive territory, taking a retracement, and warns of a bearish crossover leading to a downfall in the fast and slow lines. Hence, the technical indicator showcases a potential start of a bearish trend as the positive histograms crumble.

The RSI indicator shows a dramatic fall in the underlying bullishness as a slope crosses under the halfway line and the 14-day average line. Hence, the technical indicator supports the idea of a fallout rally cracking under the psychological mark of $1.

In a nutshell, the <a href="https://www.cryptoknowmics.com/news/sand-technical-analysis-bullish-pattern-helps-sandbox-float-above-1/" target="_blank" rel="noopener">SAND</a> technical analysis projects a high likelihood of a crazy selling spree which may shortly break the psychological mark of $1.
<h2>Upcoming Trend</h2>
If the selling spree gains momentum, the SAND prices may drop by more than 15% to test the bottom support at $0.85.

Resistance Levels: $1.35 and $1.50

Support Levels: $1 and $0.85

SAND Technical Analysis: Will SAND Prices Sustain Above $1?

SAND Technical Analysis shows that the SAND price has fallen drastically over the last 48 hours leading to a failed cup and handle pattern.

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: Will SAND Prices Sustain Above $1?

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