Issued on: 21st July’23
Valid upto: 28th July’23
Token: SAND
Category: METAVERSE
Market Cap: $852,657,061
Circulating Supply: 1,934,931,926
Total Supply: 3,000,000,000
Price Update:
SAND price at the time of writing (21st July, 15:30) is $0.4406, with a 24-hour trading volume increased by 21% to $65,635,895. SAND price is down by 0.33% in the last 24 hours according to coinmarketcap.com.
Source: TradingView
Trade SAND in Futures Market at CoinDCX
Analyzing the above chart:
- Since February 2023, SAND has been experiencing a downtrend, which is supported by volume confirmation. The current trend indicates that it is consolidating and gradually declining, suggesting a bearish outlook.
- The SAND’s price is currently trading below its 50-day, 100-day, and 200-day Exponential Moving Averages (EMA). This situation provides further confirmation of the bearish sentiment, indicating a strong likelihood of continued downward movement.
- SAND faced resistance at the previous support ($0.4830), extending the downtrend. It’s expected to fall further if the current channel is broken.
- A Short Trading strategy can be assessed between $0.4509-$0.4392 with an invalidation above $0.4748
- On the downside, one can see a fall of 15-20% toward $0.4081 & $0.3708. (valid for 7 days)
- It would seem that one should maintain a balanced risk-to-reward ratio and check the use of leverage and position size to ride out current market conditions.
Note: SAND is now available in the futures market in both Go and Pro apps with up to 15x leverage.
LAST 30 DAYS ANALYSIS SUMMARY:
| DATE | TOKEN | STRATEGY
(Long/Short) |
TOKEN RETURN% | TOKEN RETURN %
(with 8x leverage) |
BTC RETURN% |
| 19-Jun | SUI | Long | 13.77% | 110.16% | 10.93% |
| 20-June | AVAX | Long | 12.29% | 98.31% | 11.50% |
| 23-June | IMX | Long | 6.77% | 54.16% | 1.97% |
| 27-June | CFX | Long | -3.99% | -31.90% | -1.65% |
| 29-June | AAVE | Long | 26.89% | 215.09% | 0.21% |
| 29-June | MTL | Long | 11.97% | 95.80% | 1.77% |
| 30-June | ETH | Long | (not considered) | – | – |
| 04-July | FTM | Long | -5.93% | -47.44% | -2.94% |
| 04-July | LRC | Long | -5.33% | -42.64% | -4.02% |
| 05-July | APT | Long | -3.72% | -29.76% | -2.22% |
| 06-July | SOL | Long | 30.59% | 244.72% | 2.69% |
| 11-July | MATIC | Long | 13.69% | 109.52% | 3.77% |
| 12-July | DOT | Long | 9.87% | 78.96% | 1.82% |
| AVERAGE RETURN | 8.91% | 71.25% | 1.99% | ||
| SUCCESS RATE | 62% |
Return % is calculated based on pricing data as available on the platform and is valid for 15 days from the date of publishing.
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