SAND Technical Analysis: Another Bearish Strike At $2.60 Zone

After surviving last day’s bearish attack, the $2.60 support zone faces another strike threatening a downfall in SAND coin price. Key technical points: SAND price shows a fall under the $2.60 support zone. The 100-day EMA falls and warns of a bearish crossover with the 200-day EMA. The 24-hour trading volume of Sandbox is $366.54 Million, marking a 30% fall. Past Performance of SAND SAND coin price shows a sideways movement between the $2.60 support zone and the $3 mark in the last fortnight. Moreover, the recent sharp bearish strike at the support zone cracks underneath it with an engulfing candle of 5.52%. Source-Tradingview SAND Technical Analysis With the SAND coin price creeping under the support zone, the underlying bearishness is crystal clear. Hence, the daily closing below the barrier will ensure a bearish trend continuation to the next support at $2.30. The falling trend in the EMAs increases the bearish spread between the 50 and 200-day EMA after the death cross. Moreover, the downtrend in the 100-day EMA teases a potential crossover with the 200-day EMA to achieve a bearish alignment. MACD Indicator: The merged MACD and signal lines kept a sideways trend in the negative territory but with the recent fall, the bearish spread emerges. RSI Indicator: The constant rejections from the halfway mark drives the RSI slope deeper into the nearly overbought territory. Hence, the momentum indicators reflect a surge in the unde...