Here is a technical analysis of SAND/USDT:
Observations:
Trend:
Price recently surged by 57.17%, indicating strong bullish momentum.
Current price is $0.6180, slightly below the MA(7) and MA(25), suggesting a short-term consolidation or correction.
Key Moving Averages:
MA(7): $0.6301 (short-term resistance).
MA(25): $0.6144 (currently tested as support).
MA(99): $0.4848 (long-term bullish bias intact).
MACD:
MACD Histogram is slightly negative, indicating bearish divergence and weakening momentum.
DIF is still above DEA, signaling that a reversal might not be confirmed yet.
Volume:
The volume spike earlier supports the bullish breakout, but recent candles show decreasing volume, indicating waning buying pressure.
Trade Recommendations:
1. Long Entry/Exit Points:
Entry: Around $0.6150–$0.6200, near the MA(25) if it holds as support.
Take Profit (TP):
TP1: $0.6660 (recent high).
TP2: $0.7000 (psychological resistance if momentum continues).
Stop Loss (SL): $0.5880 (below recent lows and support zone).
2. Short Entry/Exit Points:
Entry: If price breaks below $0.5880 with volume confirmation.
Take Profit (TP):
TP1: $0.5500 (previous support zone).
TP2: $0.5000 (near MA(99) and psychological level).
Stop Loss (SL): $0.6200 (above MA(25)).
Trade Duration:
Long Position: 1–3 days, depending on whether it breaks resistance levels.
Short Position: 1–2 days, as bearish corrections are usually sharper but shorter in duration.
Contingency Plans (if signals go against your position):
Plan A (Long fails, price drops):
Exit at SL ($0.5880). Reassess for re-entry around $0.5500 or $0.5000.
Plan B (Short fails, price rallies):
Exit at SL ($0.6200). Switch to long position targeting $0.6660.
Plan C (Consolidation between $0.5880–$0.6200):
Avoid trading until a clear breakout above $0.6200 or breakdown below $0.5880.
Plan D (Strong breakout above $0.6660):
Enter long on breakout confirmation with volume and target $0.7000. #ETHPriceSurge #USBitcoinBill $SAND