SAND/USDT: Direct recovery expected

---- Mid-term Analysis for the next coming 4 weeks to 3 months - Daily on Daily Chart (LOG)-------

SAND/USDT: Direct recovery expected

Context
- The Global Crypto market leads by BTC and ETH is still evolving within a bearish market configuration. Like the others digital assets SAND suffered about negative global market situation
- SNX is expected to bounce from the current bottom area and triggered the bullish divergence on RSI


Market configuration

- Graphical Elements :
Graphical Resistance = 2,57 & 8,50
Graphical Support = 0,68

- Mathematical Indicators:
EMA ( Exp Moving averages) are still capping the market = Bearish
RSI indicator (below) is on going divergence but still below 50% = Neutre

- Elliot & Harmonic Wave (Fibonacci):
Fibonacci Target (C) B is set at = 0,83
Fibonacci resistance of the wave in progress = 1,67
Fibonacci support of the wave (C) B(max extension) = 0,68
Fibonacci Bullish Target = 2,57


Conclusion

Preferred case => Regarding the mid-term element, SAND is expecting to do a bullish reversal from the area we are now. We are bullish above 0,68 towards 2,57 with an intermediate level at 1,67. the ATH is set at 8,50

Alternative cases => Breaking 0,68 a significant drop will open the door towards 0,26