<strong><em>SAND prices action shows a successful retest of the rounding breakout with the neckline at $1. Should you consider buying low?</em></strong>

<strong>Key technical points:</strong>
<ul>
 	<li>The SAND market price has decreased by 6.23% over the past 24 hours.</li>
 	<li>The price action shows a breakout rally struggling to find bullish momentum.</li>
 	<li>The 24-hour trading volume of Sandbox is $385 Million, indicating a drop of 11%.</li>
</ul>
<h2>Past Performance of SAND</h2>
<a href="https://www.cryptoknowmics.com/news/sand-technical-analysis-reversal-in-sandbox-soon-to-retest-1/">SAND</a> price action shows the bullish breakout of the rounding bottom pattern with a 62% jump between June 18th to 25th to reach $1.28. However, the retest phase of the rounding bottom pulls the prices back to the $1 mark. However, the falling trend in the trading volume during the retest phase increases the likelihood of a bullish reversal.

<img src="https://s3.tradingview.com/snapshots/m/Mb6O8FYM.png" alt="TradingView Chart" />

<strong>Source- </strong><a href="https://www.tradingview.com/x/Mb6O8FYM/" target="_blank" rel="noopener">Tradingview</a>
<h2><span style="font-weight: normal">SAND Technical Analysis </span></h2>
The consecutive Doji formation near the $1 mark hints at a post-retest reversal in the SAND prices. Hence, traders with a long-term perspective can find the retest phase as an excellent entry spot. The DMI indicator displays the DI lines trying to sustain a positive alignment after the recent crossover. It is evident by the lines turning sideways turn, resulting in a dramatic decline in the bullish spread.

The RSI indicator indicates a fall in the bullish sentiment as the slope retests the halfway line. However, the rising trend in the 14-day SMA reflects long-term growth in the underlying bullishness. The MACD indicator displays a positive trend in the fast and slow lines but the decrease in the bullish spread questions the uptrend continuation. In addition, the intensity of the MACD histograms weakens abruptly, warning of a downfall under $1. Hence, the technical indicators go slightly against the SAND price action analysis.
<h2><span style="font-weight: normal">Upcoming Trend</span></h2>
If the increasing demand for the SAND token drives the prices above $1.28, the uptrend will hit the $1.45 ceiling and attempt a bullish breakout. However, the downfall of the $1 support level will result in a price drop to the $0.68 mark.

<strong>Resistance Levels:</strong> $1.28 and $1.45

<strong>Support Levels:</strong> $1.00 and $0.68

SAND Technical Analysis: Will The $1 Retest Regain Bullish Speed?

SAND Technical Analysis shows a successful retest of the rounding breakout with the neckline at $1. Should you consider buying low?

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 The $1 Retest Regain Bullish Speed?

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