Can bullish SAND reclaim its pre-FTX amounts? Technological indicators counsel… #bullish #SAND #reclaim #preFTX #degrees #Complex #indicators #advise..

Disclaimer: The data introduced does not constitute economic, investment, buying and selling, or other sorts of assistance and is entirely the writer’s opinion

  • SAND could target its pre-FTX amount in the following couple of days.
  • The open up curiosity fee amplified, which could increase the uptrend momentum.

Sandbox [SAND] is among the finest performers in the new year’s rally. It posted 120% gains soon after increasing from $.3802 to $.8370. But extra gains could be likely in the coming days/months. 

At push time, SAND’s price was $.8019 and confronted an obstacle at $.8112. The pre-FTX amount could be within arrive at if the bulls triumph over the higher than hurdle. 

Browse SAND Value Prediction 2023-24

Pre-FTX levels: Can the bulls focus on it?

Supply: SAND/USDT on TradingView

The Relative Power Index (RSI) on the daily chart was 82 and in the overbought zone. It reveals SAND was particularly bullish and could try even more upward movement. 

For that reason, SAND bulls could go outside of the $.8112 stage and reclaim the pre-FTX stage of $.9167 in the future several times/months. These a transfer would present 12% added gains.  

However, a break under $.7236 would invalidate the over bullish bias. Offered that the overbought condition could also influence a selling price reversal, this kind of a correction could thrust SAND down to $.7236. But the $.6718 amount could consist of the fall. 

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SAND’s open curiosity charges enhanced, and the sentiment was constructive

Resource: Coinglass

In accordance to Coinglass, SAND’s open interest fee (OI) has been on a continual rise since early January, with minimal fluctuations. At press time, the OI amplified further as costs soared, displaying extra income was pumped into SAND’s futures markets. This could improve even further uptrend momentum and thrust SAND to reclaim its pre-FTX level. 

In addition, investors’ outlook on the asset remained good, as evidenced by constructive weighted sentiment. The bullish outlook could even further boost SAND’s efforts to aim at its November highs ahead of the FTX saga. 

Nevertheless, the energetic addresses in the earlier 24 hours dipped somewhat and could undermine a strong rally in the short expression. Even so, SAND’s buying and selling volume could raise if BTC maintains the $22K zone and targets at $23K amount. For that reason, traders should monitor BTC’s overall performance. 

Supply: Santiment

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