The Sandbox / US Dollar Cryptocurrency Forecast
The Sandbox / US Dollar cryptocurrency price up 0.99% on Wednesday
(Updated on Apr 17, 2024)
The The Sandbox / US Dollar cryptocurrency price gained 0.99% on the last trading day (Wednesday, 17th Apr 2024), rising from $0.433 to $0.437. During the last trading day the cryptocurrency fluctuated 8.69% from a day low at $0.410 to a day high of $0.446. The price has been going up and down for this period, and there has been a -28.46% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 74 million more shares were traded than the day before. In total, 103 million shares were bought and sold for approximately $44.96 million.
The cryptocurrency lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.398 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the cryptocurrency is expected to rise 26.89% during the next 3 months and, with a 90% probability hold a price between $0.505 and $1.12 at the end of this 3-month period.
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SANDUSD Signals & Forecast
Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The The Sandbox / US Dollar cryptocurrency holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.476 and $0.617. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Sunday, March 10, 2024, and so far it has fallen -45.19%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for The Sandbox / US Dollar cryptocurrency
The Sandbox / US Dollar finds support from accumulated volume at $0.434 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This cryptocurrency may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this cryptocurrency is considered to be "very high risk". During the last day, the cryptocurrency moved $0.0356 between high and low, or 8.69%. For the last week, the cryptocurrency has had daily average volatility of 23.10%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SANDUSD) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect The Sandbox / US Dollar to open at $0.431, and during the day (based on 14 day Average True Range), to move between $0.375 and $0.500, which gives a possible trading interval of +/-$0.0624 (+/-14.28%) up or down from last closing price. If The Sandbox / US Dollar takes out the full calculated possible swing range there will be an estimated 28.55% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.434 (0.80%) than the resistance at $0.512 (17.09%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is The Sandbox / US Dollar cryptocurrency A Buy?
The The Sandbox / US Dollar cryptocurrency holds several negative signals and despite the positive trend, we believe The Sandbox / US Dollar will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this cryptocurrency.
Current score: -4.042 Sell Candidate Unchanged
Predicted Opening Price for The Sandbox / US Dollar of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| $0.431 ( 1.43%) | $0.437 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SANDUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.466 | 6.71 % | |
| R2 | 0.453 | 3.60 % | ||
| R1 | 0.444 | 1.68 % | ||
| Current price: | 0.437 | |||
| Support | S1 | 0.417 | -4.54 % | |
| S2 | 0.409 | -6.47 % | ||
| S3 | 0.395 | -9.58 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.541 | 23.68 % | |
| R2 | 0.538 | 23.11 % | ||
| R1 | 0.512 | 17.09 % | ||
| Current price | 0.437 | |||
| Support | S1 | 0.434 | -0.80% | |
| S2 | 0.429 | -1.94% | ||
| S3 | 0.415 | -5.08% |
FAQ
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