Sandbox Prediction Today, December 7, 2022: SAND/USD Retains Position Above Key Support

Through low volatility, SAND/USD price action has steadily picked up profits and is now Reclining above a key support level. Also, at this point price activity seems ready to stay a bit longer above this key support.

Sandbox Analysis Statistics Data:
SAND value now: $0.6100
SAND market cap: $925.83 million
Sandbox moving supply: 1.50 billion
Sandbox Total Supply: 3 billion
SAND Coinmarketcap ranking: #47

Major price Levels:
Top: $0.6130, $0.6160, $0.6190
Base: $0.6100, $0.6080, $0.6050

Sandbox Prediction Today December 7, 2022: SAND/USD Price Is Rejected at Resistance, But May Rise Upwards still

Price action in the SAND/USD met a strong resistance at $0.6173 and has bounced a little to the downside. Nevertheless, price action remains above the MA of the Bollinger band indicator. Consequently, this further increases the chances of a continued upside move. Furthermore, the lines of the MACD indicator continue to rise from below the 0.00 level toward the upside. At the same time, the bars on the positive side of the Moving Average Convergence Divergence indicator continue to grow above the equilibrium level. The activities on technical indicators keep showing positive signs despite the appearance of the latest bearish price candle. Consequently, all these signs are indicating that prices may increase in this market.

Sandbox Prediction Today December 7, 2022: SAND/USD May Have Started Pulling Back to the Upside

Coming to the 4-hour market, we can observe that price action has already made attempts to rise upwards. Also, we can see that the latest bullish price candles forward above the MA line. Consequently, this seems to be portraying that price may continue to rise upwards from this point. However, the lines of the MACD could be seen now merging to initiate a bearish crossover while above the 0.00 level. Nevertheless, the appearance of the latest bullish may have just signaled the abortion of that crossover. By implication, Sandbox’s price may still move towards the $0.6300 price level.

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