SAND fails to consolidate above $3.5 as trading volume drops

SAND price analysis for March 25, 2022, comes on a slightly sluggish note for the metaverse token as it was unable to push through the important price resistance of $3.5 and maintain prices above it. It is important to note that as per our SAND price analysis for March 24, 2022, the token did break the $3.5 resistance for a brief period but failed to turn it into a support region as investors took profit.

The data from CoinMarketCap shows that the trading volume of the token dropped by around 22.34% in the last 24 hours followed by a 1.34% surge in the market cap. Moreover, the Market Dominance of the token dropped to 0.19%, while the Volume / Market Cap Ratio has a value of 0.246.

The daily candle for SAND opened at a price of $3.47 and reached a daily high of $3.48. Also, the daily low for the token stands at $3.38, and the price of 1 SAND at the time of writing is $3.41.

SAND price analysis for March 25 on the daily chart

SAND price analysis on the daily chart for March 25 will take into account the readings from 3 of the biggest indicators in the crypto space. 

Source: TradingView

The MACD indicator shows that the MACD line and the signal line are very much far apart as the bulls have taken over the price action. Moreover, the MACD histogram is also bullish with green bars.

The RSI indicator for SAND reads a value above 57 which means that the buying pressure is high while the gradient of the line for today suggests that we might see further lower prices for today.

The price action failed to break out from the upper end of the Bollinger Bands which means that soon, we might see SAND retest the middle zone.

Conclusion

SAND price analysis for March 25 concludes on a slightly sluggish note for the token as it remains below the $3.5 resistance level.