SAND Technical Analysis - Buying Spree Explodes SAND Above $1.50

Описание: Holla viewers,
This is Megha Chhikara back with a brand new coin for you!
Today, we will analyze the overnight growth in SandBox as it crosses above $1.50, to check if the uptrend will sustain for the upcoming week!
With the overall market turning bullish last night, which was expected as Bitcoin sustained above $30K as predicted in our last analysis, we see a new phase of buyers entering the market with high hopes.
And, with SAND buyers coming back into action, thankfully, we can finally see some action in Meta tokens and other altcoins as well.
Watch the entire video till the end to learn more about the upcoming trend in SAND, and don’t forget to hit the subscribe button!
So beginning with the market values, SAND's current market price today is $1.51 at 3:30 GMT, a rise of 12.06% in the past 24 hours, showing explosive recovery!
The graph on my screen has a lot to say about SAND today, too, let’s see what it is!

https://www.tradingview.com/x/bFhNDpjt/
Analyzing the previous trend in SAND, we see a downtrend in a falling expanding channel, accounting for a downfall of 65% last month. The bearish phase broke under the crucial level of $1.50 before taking support at $1.
And, this is the spot where the actual recovery started as buyers overtook the trend control gradually with a consolidation breakout. Furthermore, the high momentum consolidation breakout rally challenges the falling trendline of the bearish expanding channel. This is the new upcoming spot where traders and investors must pay attention to get an entry spot as the trendline breakout will unleash the trapped bullish momentum.
Moving on to the technical indicators, the momentum indicators are coming in extremely bullish and display trend reversal.
The crossover in the DMI indicator of DI lines, i.e the ones represented by the orange and blue lines here in the graph indicates a rise in the bullish trends which is also supported by the falling ADX line here on the graph.
The choppiness in the Vortex indicator is cutting points from the bullish reversal signal but the positive alignment sustaining for the day will improve the bullish case. And, MACD showcases a sustained uptrend in the fast and slow lines projecting a new phase of a buying spree.
In a nutshell, the extremely bullish conditions will inflate the market value of SAND above $2 within this week.
However, buyers must consider the possibility of a reversal to retest the breakout.
This was the technical analysis for SAND. We hope this was helpful, and you got what you were looking for!! If you enjoyed the session, please subscribe to Cryptoknowmics!!