SAND Technical Analysis: Overnight Buying Spree Crosses $1.50

SAND price chart shows a late-night bullish recovery brings a consolidation breakout and prepares to outgrow the bearish channel. Key technical points: The SAND market value increased by 11.45% in the last 24 hours. Consolidation breakout comes with a double bottom breakout. The 24-hour trading volume of Sandbox is $584 Million, indicating a hike of 123.25%. Past Performance of SAND The prior trend in SAND displays a decline within a bearish expanding channel, accounting for a drop of 65% in the last month. This bearish period broke beneath the critical mark of $1.50 before gaining the support level of $1. At this point, the real rebound began when buyers gradually took over the trend control, with the double bottom breakout that outgrew the consolidation period. Source- Tradingview SAND Technical Analysis A high-energy consolidation rally SAND is a challenge to the falling trendline of the expanding bearish channel. This helps buyers reclaim the $1.50 mark and increases the likelihood of uptrend continuation. The bullish crossover of the DMI indicator and the drop in the ADX line indicate a decline in bearish momentum resulting in a trend reversal. Hence, with the new trend in motion, we can shortly see a rise in the ADX line representing the rise in bullish momentum. The choppiness of the Vortex indicator separates points away from the bullish signal. However, positive alignments throughout the day will strengthen the bullis...