SAND has broken a descending trendline, indicating a potential shift in momentum after a prolonged bearish phase. The price, which had been constrained between $0.23 and $0.30, recently showed signs of exhaustion near $0.11 to $0.12, suggesting weakening sell pressure. This breakout follows weeks of compression, hinting at increased market participation.
Despite the breakout, SAND faces significant resistance near $0.20 to $0.23, a previous consolidation range that now acts as a supply zone. Analysts caution that without strong volume and acceptance above this range, upward moves may be limited to retracements. On the 15-minute chart, SAND shows a base forming near $0.113 to $0.114, with higher lows indicating a short-term bullish structure. The price is currently consolidating between $0.126 and $0.129, maintaining a constructive short-term outlook if it holds above $0.125.
SAND Price Breaks Trendline, Signals Short-Term Bullish Momentum
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