SANDBOX – ALTCOIN CHART ANALYSIS

Sandbox (SAND) is in a slight consolidation phase, in an overarching downtrend. Monthly support S1 gives us strong support and we've been able to stay here as volume increases.

Right now we're trading at around $0.87. The 4H-EMA ribbons represent strong resistance, especially as the trading volume is clearly decreasing. This could indicate a next move.

From a chart perspective, the first target would be the $1.00 area as this is where the next resistance is and former support would thus become resistance. At least in the short term, it looks like a recovery.

On the daily chart, the whole thing looks a bit more bearish. Of course, there is more to get for the big fish at the top, but we also have a large liquidity zone at the bottom.

The first has already been filled up to around USD 0.80 and represents the start of the bull run at SAND. The first important area has thus been filled. However, the second is around USD 0.60 and already represented strong support at that time.

Thus, after an initial recovery, a second wave of corrections could follow up to around USD 0.60 before we could see a first bottoming out.

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