SAND price action remains sluggish below $3 resistance

SAND price analysis for April 14, 2022, beings on a bearish note for the token as chances of losing the $2.8 price region seems considerable for now. This is because the volume has declined and bulls have failed to break and consolidate prices above the $3 price resistance. On the other hand, the SAND price analysis for April 13, 2022, showed us that the token rebounded from $2.6 which is currently minor support for the price action. The chances of breaking $3 are very low for now. 

The data from CoinMarketCap shows that the trading volume of the token crashed by around 15.47% in the last 24 hours, followed by a 2.48% surge 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 0.09651.

The daily candle for SAND opened at a price of $2.86 and reached a daily high of $2.91. Also, the daily low for the token stands at $2.85, and the price of 1 SAND at the time of writing is $2.88.

SAND price analysis for April 14 on the daily chart

SAND price analysis on the daily chart for April 14 will discuss the possibility of higher prices in the coming days for the metaverse token.

Source: TradingView

The RSI indicator reads a value below 43 which means that soon investors can expect a move towards $2.5 price support as the volume continues to decline. 

The MACD indicator shows that the MACD line and the signal line are moving closer to each other indicating a sluggish movement for SAND and a decline in demand. 

The price action has also dropped to the lower end of the Bollinger Bands which means that bulls are not having a very good time for now. 

Conclusion

SAND price analysis for April 14, 2022, ends on a bearish note for the metaverse token as chances of retesting $2.5 in the near future seem very high.