SAND Technical Analysis: Bears Create A Downside Risk of 15%

SAND coin price hints at a downside risk of 15% if the bulls fail to transcend the long-coming resistance trendline or is it a bearish masquerade? Key technical points: SAND coin price trades below the daily support of $2.8 The daily chart shows a downfall of 6% in the last 36 hours The 24-hour trading volume in the SandBox Token is $452 Million, marking a 23% fall. Past Performance of SAND SAND coin price fails to sustain above the 200-day EMA despite the reversal from the $2.90 support level. The following downfall breaks below the support level and forms a bottom at $2.808. However, the recent rise in the underlying bearishness breaks below the $2.80 mark and hints at a downtrend continuation. Source-Tradingview SAND Technical Analysis SAND coin prices may generate a buy signal with closing below the $2.80 mark, resulting in a price fall to $2.30. However, a lower price rejection is possible, as seen thrice before from the $2.61 mark. Hence, traders must wait for a price action confirmation. The crucial daily EMAs maintain a downtrend as the 50-day EMA approaches the 200-day EMA increasing the chances of a death cross. RSI Indicator: The RSI slope continues the sideways march showing no indication of a divergence in the price chart. The RSI slope offers support at 36%, and a downfall below will give a selling opportunity. Stochastic RSI Indicator: The K and D lines fail to give a bullish spread and undermine the positive cr...