SAND Technical Analysis: Trend Within Channel Arrives At A Crossroad

The SAND coin price shows a brawl between bulls and bears near the resistance trendline of the rising channel. Can bulls emerge victorious? The game was launched in the month of October 2021. Planet Sandbox claims to be the largest third-person sandbox in the world of blockchain. It’s a physics-powered Sandbox shooting game that lets players create and manage arenas, and compete against other players with NFTs. Let us move ahead to read about SandBox technical analysis. Past Performance of SAND The SAND coin price shows an uptrend in action with a 60% growth in the past two weeks within a rising chanel in the daily chart. Currently, the price rests near the resistance trendline of the parallel channel projecting the possibility of a reversal. However, the lower price rejection near the 50-day EMA showcases the possibility of a bullish breakout of the channel. SAND/USD Daily Chart SAND Technical Analysis The SAND coin price sustains above the $4.5 mark with a lower price rejection present in the recent daily candles. Hence, traders can expect a breakout entry as the uptrend challenges the resistance trendline. The crucial Exponential Moving Averages (50, 100, and 200) maintain a bullish alignment as the 50-day EMA provides dynamic support to the rising price. The DMI indicator shows a continuation of the bullish trend as the DI lines sustain an ascending alignment. However, the ADX line shows a falling trend momentum and threat...