SAND retains prices above $2.6 as bulls aim for $3

SAND price analysis for April 13, 2022, comes on a bearish note for the token as it has seen a surge in prices in the last 24 hours. As per our analysis for the token for today, a 2.4% surge can be confirmed in the last 24 hours which is not much compared to other tokens. The market seems to be in a recovering mode after the huge sell-off that occurred a few days ago. As noted in our SAND price analysis for April 12, 2022, the nearest support for the metaverse token rests at $2.6 which hasn’t been breached. 

The data from CoinMarketCap shows that the trading volume of the token crashed by around 25.98% in the last 24 hours, followed by a 2.65% 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 0.1165.

The daily candle for SAND opened at a price of $2.77 and reached a daily high of $2.83. Also, the daily low for the token stands at $2.753, and the price of 1 SAND at the time of writing is $2.819.

SAND price analysis for April 13 on the daily chart

SAND price analysis on the daily chart for April 13 will take into account the data from the indicators placed in the daily chart below.

Source: TradingView

The MACD indicator shows that the MACD line and the signal line are close to each other but the signal line is dominating which means that the bears are in control. 

The RSI indicator reads a value below 41 which confirms that we can bear to remain in charge while the gradient of the line suggests that higher prices will follow today. 

The price action for SAND is situated in the lower end of the Bollinger Bands which confirms that overall, bears are in charge.

Conclusion

SAND price analysis ends on a slightly bullish note as chances of breaking above the $3 price level seem high.