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SAND AND VERASITY - ALTCOIN CHART ANALYSIS

 


SAND has recovered after a week-long sideways and accumulation phase and has now been rising significantly for a few days. We are currently in a resistance area at around $ 6.83.


Take the fib. Retracement level and pulling it down from the all-time high to our lowest point of correction, we can see that we are right at the golden pocket (0.618 - 0.65 Fib. Retracement level).


We have already tested this for a short time and were immediately rejected. In order for the uptrend to continue at SAND, we have to break through this area as soon as possible and, if necessary, confirm it as support.


We can also see a possible end of the sideways phase in the SAND / BTC 4H chart. After moving around 0.0001 BTC for days, we were recently able to see an increase here as well.


At the moment we are trading at around 0.000136 BTC, which is exactly at the upper end of our range since the all-time high. In the RSI we have formed a bearish divergence and thus the first bearish signs.



Leaving the range directly upwards would not be advantageous. It would be better if we test our smaller uptrend or the EMA ribbons again and then try to leave the range again.


Verasity (VRA) is still in a clear downtrend, which we last tried to break, but were rejected here. Right now we're at around $ 0.038.


On the 4H chart, we form a small uptrend in the downtrend. This is in confluence with the EMA Ribbons and thus serves as a support. Another resistance above us is the 200-EMA.



The 200-SMA (last 200 average candles / purple) is also above us as a resistance. It would be desirable if we both break through impulsively and switch the resistances with a confirmation to support.

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