SAND – ALTCOIN CHART ANALYSIS

SAND continues to be in a clear downtrend. After trying to make a higher high above $3 this week, we failed to hold that area and were immediately sold off.

We are currently trading at around USD 2.70 and are therefore in a large support zone. However, this could still be filled up to around USD 2.65, since there is inefficiency in the market here and it would be important for the further course that we fill it.

Furthermore, we should get back above the monthly resistance S1 and the 4H-EMA ribbons as soon as possible. If we fail to retake these levels earlier in the week, we could dip back into the $2.50 area and below.

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