SAND price analysis for Feb 11, 2022, comes with a slightly bullish analysis for investors as the token now aims to breach the resistance found at the $4.5 price level. If successful, we can witness SAND above $5 in the coming days. Moreover, it is also important to note that SAND has outperformed many altcoins in the market, as seen in our SAND price analysis for Feb 9, 2022.
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The data from CoinMarketCap shows that the trading volume of the token dropped 29.87% in the last 24 hours, followed by a 5.78% drop in the market cap. Meanwhile, the Volume / Market Cap Ratio for the token stands at a value of 0.2855, followed by a Market Dominance of 0.23%. Also, the token is 47.12% from its all-time high witnessed on Nov 25, 2021, which makes it a good time to buy the coin.
The daily candle for SAND opened at $4.39 and reached a daily high of $4.5. Moreover, the daily low for the token stands at a price of $4.32.
SAND price analysis on the daily chart
SAND price analysis on the daily chart can be confirmed on a bullish note for the near future. The MACD indicator shows that the MACD line (blue) continues to progress above the signal line (orange). Higher prices are possible.
The RSI line has gradually turned positive and now reads 54. The buying pressure prevails for Feb 11, 2022.
The SAND price fractal is moving inside the Bollinger Bands after the token failed to break out from the upper end of the Bands. However, prices remain bullish because the token is still in the upper region.
Conclusion
SAND price analysis for Feb 11, 2022, can be concluded on a bullish note as all the indicators are bullish, and the chances of SAND reaching a new all-time high this year is quite high. The metaverse is a safe bet for investors following huge institutional backing in 2021-22.
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