💰SAND/USDT Analysis💰

🔥Trend Analysis

On the H1 chart, SAND/USDT is showing a strong upward trend and has surpassed several previous resistance levels. However, the current price is showing signs of stagnation after reaching a peak near $0.80, indicated by short-term bearish candles. The RSI indicates that the price has entered the overbought zone (>70) but is turning back. This may signal a short-term correction before the main trend continues.

🔥Important Levels to Note

Nearest support: $0.72 - $0.74 (may coincide with EMA or Fibonacci retracement 0.382).

Main resistance: $0.80 - $0.82 (recent peak area). If broken, the next target could be $0.85.

🔥H4 Trading Plan

⭐Bullish Scenario:

If the price corrects to the support area of $0.72 - $0.74 and shows signs of recovery (such as bullish reversal candles or increased volume), consider opening a buy order. The target is around $0.80 and further to $0.85.

Stop loss: Below $0.70 to protect capital.

⭐Bearish Scenario:

If the price breaks below the support of $0.72 and closes a candle below this area, the likelihood of a deeper correction to $0.65 (Fibonacci retracement 0.618) is high. In this case, consider not trading or opening a short position.

🔥Supplementary Indicators

RSI: Monitor the RSI on the H4 chart. If the RSI returns to the 50 - 60 range while the price does not break support, this is a signal reinforcing the upward trend.

EMA: Check the EMA20 and EMA50 on H4 to confirm that the upward trend is still valid.

💥Risk Management

Risk/Reward ratio (RR): Set a minimum RR of 1:2. Do not trade when the price fluctuates too close to resistance/support without clear signals.