SAND Technical Analysis Feb 23

SAND, with RSI at 34.92 approaching the oversold region, MACD histogram giving positive momentum signal; however, bearish short-term trend continues below EMA20. Indicators are awaiting volume confirmation for a possible momentum bounce.

Trend Status and Momentum Analysis

SAND is currently trading at 0.08 dollars and has narrowed its daily range with a 3.62% drop in the last 24 hours. While the overall trend direction is confirmed downward, momentum indicators are producing mixed signals. RSI 14 period at 34.92 approaching oversold region, indicating short-term rebound potential. MACD maintaining bullish tendency with positive histogram, showing momentum not weakening despite price drop. EMA ribbon structure bearish, price trading below EMA20 (0.09 dollars) and negatively affecting short-term trend strength. Volume at 18.56 million dollars is moderate, but no strong distribution supporting the drop; instead, accumulation traces are visible. Multi-timeframe (MTF) confluence has 9 strong levels: 2 supports/1 resistance on daily, 1 resistance on 3-day, weekly 3 supports/3 resistances balance. Supertrend bearish signal but momentum oscillators offering notable recovery opportunity in terms of confluence. Main supports at 0.0793 and 0.0702 dollars (both 63/100 score), resistance at 0.0833 dollars (71/100 score). Bearish target 0.0389 (22 score), bullish target 0.1107 (13 score) appears low probability.

RSI Indicator: Buy or Sell?

RSI Divergence Analysis

RSI 14 period at 34.92 level and just above 30, signaling entry into classic oversold region. Price making new lows at recent bottoms while RSI forming higher lows; this indicates regular bullish divergence and shows momentum strengthening below price. No hidden divergence on daily chart, but RSI holding 40 band on weekly implies trend strength not fully exhausted. Divergence confirms waning selling pressure and groundwork for potential bounce. If RSI drops below 30, bearish momentum may increase; however, current level is critical threshold for buy signal.

Overbought/Oversold Regions

RSI at 34.92 approaching oversold zone (below 30), this condition historically marking end of 10-15% pullbacks for SAND. 50 level acting as midline resistance; breaking it would strengthen momentum confluence. Overbought region (above 70) distant, so short-term selling pressure may remain limited. When observing RSI with Stochastic confluence, oversold conditions supportive for buy momentum.

MACD Signals and Histogram Dynamics

MACD in bullish status, above signal line and histogram expanding with positive values. Despite price drop, histogram bars staying positive emphasizes bullish divergence – momentum gathering in buyers’ hands. Recent crossover positive, but caution if histogram narrows. On daily chart, MACD line near 0 axis, holding here could signal trend reversal. Weekly MACD histogram slightly positive, showing long-term momentum resisting bearish pressure. If confirmed by volume, MACD could generate strong bullish signal from this level; current situation interpreted as preparation before consolidation.

EMA Systems and Trend Strength

Short-Term EMAs

Price below EMA20 (0.09 dollars), confirming short-term trend bearish. Ribbon squeeze between EMA10 and EMA20 shows weak momentum; expansion bearish direction. Price approaching EMA20 critical for potential test – rejection would accelerate drop to supports.

Medium/Long-Term EMA Supports

EMA50 around 0.095 acting as resistance, EMA200 at 0.12 forming distant support. Ribbon dynamics confirming downtrend, but EMA100 flat movement implying reduced trend strength. Price below long-term EMAs sustains selling pressure in big picture; EMA50 breakout essential for momentum recovery.

Bitcoin Correlation

Bitcoin at 65,845 dollars with 3.15% drop in downtrend, Supertrend bearish and main supports in 64,183-62,591-60,000 dollars band. BTC resistances at 65,920-68,225-71,028. SAND highly correlated with BTC (%0.85+), BTC drop triggering sell wave in altcoins. If BTC breaks below 64k, SAND could slide to 0.07s; recovery above 66k would accelerate SAND 0.09 test. As BTC dominance rises, altcoin caution mode active – SAND momentum tied to BTC.

Momentum Outcome and Expectations

SAND momentum analysis carries bullish potential with RSI oversold approach and MACD positive histogram; divergences showing selling strength exhausted. Though EMA bearish, 0.0833 resistance testable with volume confirmation. MTF confluence balanced with 9 levels, but downtrend dominant. Short-term, 0.0793 support must hold; breakdown activates bearish targets. Long-term, BTC correlation decisive, monitor momentum confluence. Overall outlook cautiously optimistic: Oversold RSI and MACD bullishness opening rebound window but trend strength weak. Volume increase will determine signal strength. Details available in SAND Spot Analysis and SAND Futures Analysis.