SAND recorded good growth during the last week

SAND recorded good growth during the last week, from $0.35 to $0.39. The support that took place on this monthly range has caused the price to exit the downward channel in the 4-hour time frame. Four ascending candles, all of which closed above the previous candle, can be a sign of buying pressure to maintain support and a possible trend change in the future. Of course, this is because the SAND currency weekly candle forms a bullish pattern. Otherwise, we will reduce the price again. In the weekly timeframe, bearish candles are very powerful, and the current support level in the minimum conditions should be able to create a positive swing in the weekly timeframe.

In the 4-hour time frame, a definite sign of a trend change can be seen with the last strong upward movement. The price has hit an important resistance in the range of $0.47-0.48, and due to the high angle of the collision, there is a possibility of breaking this resistance and hitting the resistance of $0.49-0.50. We expect a stronger negative reaction from the second resistance. But due to the possibility of negative divergence in 4 hours and below this resistance, if a negative reaction is observed, the price can enter a corrective wave. So, the support we can consider for it is in the range of $0.44 to $0.43, which can cause the price to bounce back in the coming days.