Crypto Technical Analysis

SandBox Technical Analysis: Will SAND Price Hit INR 150 This Month?

Sandbox Technical Analysis

Key Takeaways:

  • The Sandbox price closed the previous day’s trade at INR 86.80 with a market capitalization of INR 115.38 billion and a circulating supply of 1.26 billion SAND
  • The SAND price is heavily consolidating around INR 100 and displaying possibility to drop by 25% to visit June lows again
Current Price INR 90.04
Market Cap INR 113,326,646,078
Circulating Supply 1.26 billion SAND
Max Supply 3 billion SAND
Vol (24H) INR 24,386,590,732
Change (7D) -7.20%

Technical Analysis for July 2022

Technical Analysis at a Glance

Short-Term The SAND price has dropped significantly and attempting for a rebound, however, bears still hold some strength that may ease in the next couple of hours
Mid-Term The upswing ignited during mid-June appears to have accomplished as the asset is preparing to undergo a significant pullback
Long-Term The asset was extremely bearish since the beginning of 2022, but the trend reversal is approaching fast that may uplift the price to INR 200 soon

Check latest SAND INR Price, Charts, and Data.

Impact of Crypto Crash on SAND Price

The Sandbox price ever since it reached the highs has been trading within a deep descending channel, much before the crypto crash. The asset had dropped nearly 50% before the crash while a couple of events slashed the prices by more than 60% since May 2022. However, the SAND price has dropped by more than 90% from its highs, while the chances of a rebound are fewer.

Along with the crash, the Indian traders are also experiencing tough times with the new tax policies imposed recently. According to the new policy, the traders will be charged 30% of the profits incurred and 1% TDS on every transaction. Hefty taxes within a bear market have currently dried up the volume to some extent in the exchanges. While the impact on the price remains negligible.

Read more on 30% Crypto Tax & 1% TDS on Crypto

Technical Indicators & Pivot Levels

Indicator Value (STF/HTF) Action (STF/HTF)
Relative Strength Index(RSI) 43.06 / 44.20 Sell / Sell
MACD -0.015 / -0.42 Sell / Sell
Average Directional Index(ADX) 43.56 / 49.07 Sell / Sell
Ultimate Oscillator 44.66 / 39.00 Sell / Sell
Bull-Bear Power -0.05 / -0.78 Sell / Sell

Pivot Levels

Moving Average Short Term Long Term
MA 5 INR 89.34 INR 87.11
MA 10 INR 90.38 INR 94.76
MA 20 INR 93.80 INR 159.97
MA 50 INR 92.61 INR 189.91
MA 100 INR 89.74 INR 95.08
MA 200 INR 88.55 INR 46.74

The fresh bearish trend has cemented the SAND price within a descending trend in all the time frames. Presently, there is no indicator which is at least neutral as almost all of them are pointing toward a ‘sell’ signal.  While RSI is bearish and heading towards the lower support, MACD is also displaying an accumulated selling pressure in all the time horizons. 

On the other hand, the strength of the rally is pretty weak and the volatility of the rally is also extremely less. Therefore, the descending trend may continue without any possibility of a strong rebound.

Also Read: Top 6 NFT Tokens

SandBox Technical Analysis for Short Term

sandbox

Source: Tradingview

  • The SAND price after flipping from the June lows is trading within a bullish ascending triangle
  • Presently, the asset has hit the lower support and hence is expected to rebound towards the upper resistance at INR 105.75
  • However, the asset is expected to get rejected from the resistance and also drop down to hit the lower support close to INR 100 then
  • Further with another trend reversal, the SAND price is expected to flip and range high gigantically and achieve INR 115 before the end of July.

Additional Read: Sandbox Price Prediction

SandBox Technical Analysis for Long Term

sand

Source: Tradingview

 

  • Despite a short-term bounce being imminent, the SAND price is pretty bearish and expected to breakdown from the local support soon
  • The price has flipped this support a couple of times before but failed to gain bullish momentum to reach the local resistance. Therefore cannot be considered a strong support level
  • Therefore, the current descending trend may drag the price below this support and could test the last point of defense if failed to flip from the support zone
  • On the other hand, a flip from the support zone could enable the price to regain its position above INR 100 that may uplift the price beyond INR 115.

Additional Read: MANA vs SAND

Where & How to Buy SandBox(SAND)?

Buying or selling on CoinDCX is simple and safe by following just 3 simple steps,

  1. Download the CoinDCX App on your smartphone
  2. Register by entering your details
  3. Once verified, fund your wallet and buy a SAND token

Investing nowadays is simpler with CoinDCX’s newly launched Crypto Investment Plan(CIP), where-in you can invest in easy weekly installments. Therefore, start investing in Bitcoin & other cryptos with Crypto SIPs now!

FAQs

Is SandBox bullish or Bearish?

Sandbox is extremely bearish in all the time horizons at the press time

What is the current RSI for SAND?

The RSI is 43.06 in the short term and 44.02 in the long term. Check latest SAND Price - https://coindcx.com/trade/SANDUSDT

Is it a good time to buy a SandBox?

SandBox is currently on the verge to hit the lower support and may rebound well very soon. Therefore may be a good time to invest with proper research and understanding.

*Prices as of 12th July, 2022


Disclaimer: The above views, information represent the independent views of Primestack Pte. Ltd, Neblio Technologies Pvt. Ltd, and/or their affiliate entities and are for informational/ educational purposes only. The content, information or data provided above is not an offer, or solicitation of an offer, to invest in, or to buy or sell any interest or shares, digital assets/ cryptocurrencies or securities, or to participate in any investment or trading strategy. Any statement or communication made above shall not be treated as legal, financial, investment or tax advice by the reader. The calculations, data, risk-return formulations, performance or market capitalization indicators captured above are based on the independent data sourcing including collation of public information and/or analysis performed by analysts, advisors or employees of Primestack Pte. Ltd/ Neblio Technologies Pvt. Ltd and/or their affiliate companies and/or any third party. Past performance is not indicative of any future results. The reader(s) are hereby advised to consult their financial/ legal/ tax advisor(s) before making any investment.


 

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