SAND rebounds from $2.5, aims to turn $2.7 into support

SAND price analysis for April 19, 2022, comes on a sluggish note for the token which has seen a surge of 0.58% in the last 24 hours. On the other hand, the token has seen a good rebound from the $2.5 price region which has held as an important price support for the metaverse token. We can expect that the chances of the token reclaiming $3 to remain considerable under the condition that the bulls continue their magic. Meanwhile, as noted in our SAND analysis for April 18, 2022, the token has a strong resistance at $3.

The data from CoinMarketCap shows that the trading volume of the token surged by around 53.22% in the last 24 hours, followed by a 0.42% 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 0.112.

The daily candle for SAND opened at a price of $2.7442 and reached a daily high of $2.78. Also, the daily low for the token stands at $2.716, and the price of 1 SAND at the time of writing is $2.7282.

SAND price analysis for April 19 on the daily chart

SAND price analysis on the daily chart for April 19 will consider the data from the daily chart below with 3 of the most crucial indicators integrated into it.

Source: TradingView

The RSI indicator for SAND reads a value below 40 which means that the bulls and the bears are at war with each other with the latter dominating.

The MACD indicator shows that the MACD line remains below the signal line confirming that the selling pressure is quite higher than expected.

The price action is currently situated in the lower end of the Bollinger Bands for SAND which means that buyers need to watch their backs in the market.

Conclusion

SAND price analysis for April 18, 2022, ends on a slightly bullish note but indicators remain sided with the bears of the market.