SAND drops to 40th position in the market with 2% price drop

SAND price analysis for April 15, 2022, also comes on a bearish note for the token as the entire market seems to be undergoing a bearish phase and the price action for most of the tokens has been sluggish or bearish. On the other hand, the SAND token has been able to keep prices above $2.8 despite losing the support at $3 which was a huge loss for the bulls. On the other hand, as noted in our SAND price analysis for April 16, 2022, the $3 price level is now a region of resistance for the metaverse token.

The data from CoinMarketCap shows that the trading volume of the token crashed by around 5.20% in the last 24 hours, followed by a 2.61% drop in the market cap. Moreover, the Market Dominance of the token rests at 0.17%, while the Volume / Market Cap Ratio has a value of 0.09396.

The daily candle for SAND opened at a price of $2.78 and reached a daily high of $2.82. Also, the daily low for the token stands at $2.76, and the price of 1 SAND at the time of writing is $2.80.

SAND price analysis for April 15 on the daily chart

SAND price analysis on the daily chart for April 15 will take into account the readings below to figure out the future price action for the metaverse token.

Source: TradingView

The MACD indicator shows that the MACD line and the signal line are very close to each other but the MACD indicator remains bearish.

The RSI indicator shows a value below 41 which further confirms that the bears are in control of the price action and the gradient of the line suggests that sluggish movement is possible.

The price action is situated in the lower end of the Bollinger Bands which confirms that lower prices might follow for SAND in the coming days.

Conclusion

SAND price analysis for April 15, 2022, ends on a bearish note for the metaverse token as chances of losing $2.8 as support remain high.