The Sandbox / US Dollar Cryptocurrency Forecast
A very red day for The Sandbox / US Dollar cryptocurrency price after a -5.93% fall in the Wednesday trading session
(Updated on May 01, 2024)
The The Sandbox / US Dollar cryptocurrency price fell by -5.93% on the last day (Wednesday, 1st May 2024) from $0.439 to $0.413. It has now fallen 3 days in a row. During the last trading day the cryptocurrency fluctuated 8.49% from a day low at $0.396 to a day high of $0.429. The price has fallen in 8 of the last 10 days and is down by -12.81% for this period. Volume has increased on the last day by 101 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 108 million shares were bought and sold for approximately $44.64 million.
The cryptocurrency is at the lower part of a very wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $0.389 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect The Sandbox / US Dollar cryptocurrency with a 90% probability to be traded between $0.385 and $0.783 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and cryptocurrencies seldom manage to go directly from the bottom of a trend up to the top. Cryptocurrencies turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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SANDUSD Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 $0.449 and $0.535. 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 -48.28%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the cryptocurrency should be followed more closely.
Support, Risk & Stop-loss for The Sandbox / US Dollar cryptocurrency
On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $0.391. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $ may give a huge drop in the cryptocurrency price.
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 $0.0336 between high and low, or 8.49%. For the last week, the cryptocurrency has had daily average volatility of 6.16%.
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 2nd
For the upcoming trading day on Thursday, 2nd we expect The Sandbox / US Dollar to open at $0.412, and during the day (based on 14 day Average True Range), to move between $0.369 and $0.456, which gives a possible trading interval of +/-$0.0430 (+/-10.43%) 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 20.86% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.415 (0.58%) than the support at $0.391 (5.14%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is The Sandbox / US Dollar cryptocurrency A Buy?
The Sandbox / US Dollar holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this cryptocurrency. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -6.940 Strong Sell Candidate Downgraded
Predicted Opening Price for The Sandbox / US Dollar of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $0.412 ( 0.0162%) | $0.413 |
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 | 0.446 | 8.13 % | |
| R2 | 0.433 | 5.02 % | ||
| R1 | 0.425 | 3.10 % | ||
| Current price: | 0.413 | |||
| Support | S1 | 0.400 | -3.13 % | |
| S2 | 0.392 | -5.05 % | ||
| S3 | 0.379 | -8.16 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.512 | 24.07 % | |
| R2 | 0.434 | 5.12 % | ||
| R1 | 0.415 | 0.582 % | ||
| Current price | 0.413 | |||
| Support | S1 | 0.391 | -5.14% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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