SAND drops another 3%: Falls out of top 40

Cryptocurrency Price analysis and Prediction

April 22, 2022

Cryptocurrency Price analysis and Prediction

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SAND price analysis for April 22, 2022, comes on a bearish note for the token as chances of the metaverse token remaining bearish are high. Moreover, the nearest resistance for the token stands at a price of $3, which the token did break through but failed to maintain prices above this region, as noted in our SAND analysis for April 21, 2022. It is also important to note that the current price of the token is nearly 66.91% low from its all-time high after a price fall of 3% in the last 24 hours.

The data from CoinMarketCap shows that the trading volume of the token dropped by around 10.01% in the last 24 hours, followed by a 3.42% drop in the market cap. Moreover, the Market Dominance of the token dropped to 0.17%, while the Volume / Market Cap Ratio has a value of 0.1365.

The daily candle for SAND opened at a price of $2.75 and reached a daily high of $2.79. Also, the daily low for the token stands at $2.74, and the price of 1 SAND at the time of writing is $2.79.

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SAND price analysis for April 22 on the daily chart

SAND price analysis on the daily chart for April 22 will take input from the data gathered from the daily chart below.

Source: TradingView

The RSI indicator for SAND reads a value below 44, which confirms that the bulls have been pushed out of the market and bears are in control.

The price action is currently situated in the lower end of the Bollinger Bands, and the chances of a bearish breakout in the near future seem high.

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The MACD indicator shows that the MACD line is touching the signal line are nearly overlapping; however, as per the current situation, SAND might continue with a bearish divergence.