SAND reject around $3 as sideways movement dominates

SAND price analysis for March 10, 2022, confirms that the token has been rejected at the $3 price level following a drop in trading volume. It seems that the metaverse token has dropped in popularity as indicators reveal a sideways movement for the token. Moreover, the SAND price analysis for March 9, 2022, confirms that the token is unable to move past the $3 resistance.

The data from CoinMarketCap shows that the trading volume of the token has surged by 18.74% in the last 24 hours followed by a 0.19% surge in the market cap as well. Moreover, the Market Dominance of the token rests at 0.18%, while the Volume / Market Cap Ratio has a value of 0.1905.

The daily candle for the token opened at a price of $2.9 and reached a daily high of $2.98. Moreover, the daily low for the token stands at $2.86, and the price of 1 SAND at the time of writing is $2.87.

SAND price analysis for March 10 on the daily chart

SAND price analysis on the daily chart for March 10 will make use of the 3 most valuable indicators on the daily chart.

Source: TradingView

The MACD indicator shows that the MACD line and the signal line are very close to each other and chances are that prices can break out on either side. It is also important to note that the MACD histogram shows that price action is not stable. 

The RSI line shows a value of 40.24 which means that the bears are in charge. Moreover, the gradient of the line is negative for today which means that prices might decline. 

The price action for SAND is situated in the lower end of the Bollinger Bands which means that the chances of witnessing a bearish breakout are very high. 

Conclusion

The SAND price analysis for March 10, 2022, confirms that the SAND token is not able to breach $3 as bulls and bears remain in a stalemate.