SAND repeatedly found support around 0.134 twice without breaking below, clearly forming a double bottom pattern, and this support level appears to be quite solid. Recently, several candlesticks have shown increased volume, and the price has started to rebound upward. More importantly, the short-term moving averages have turned upward, showing signs of a golden cross. What does this indicate? It suggests that the buying pressure below this price level is quite strong, and it is unlikely to fall further in the short term.



From a technical perspective, there is a chance for a rebound rally to the upside, with the target potentially set near the previous high of 0.1447. However, remember to manage risks properly when trading, and setting a stop-loss at 0.138 would be more prudent.
SAND-0.72%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 8
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pinned