$SAND surged from 0.0658 to 0.088 in less than a day, and has now pulled back to around 0.078. It's still up +18.4% over 24 hours, and the 540M in trading volume is a clear sign of increased activity.
I'm bullish, but I wouldn't chase it at this level. The key is whether 0.075 holds—it's the first pullback support after the rally and roughly the upper edge of the base it rose from. If it holds, 0.088 is the resistance it needs to break. A breakout above it on increased volume would signal a second leg up, with a target around 0.095.
If I were going long, I'd scale in between 0.075 and 0.078, with a stop below 0.071. In other words, if it breaks below the pullback low, I'd admit I'm wrong and exit, keeping losses under control. If it shoots straight up to 0.088, fails, and volume dries up, then this is just a sentiment-driven move—don't get attached.
Both long and short trades are possible here, but I'd rather wait for a confirmed pullback than chase the price. Older coins like $SAND can rise fast, but they can fall just as quickly, so don't size your position too aggressively.
I'm bullish, but I wouldn't chase it at this level. The key is whether 0.075 holds—it's the first pullback support after the rally and roughly the upper edge of the base it rose from. If it holds, 0.088 is the resistance it needs to break. A breakout above it on increased volume would signal a second leg up, with a target around 0.095.
If I were going long, I'd scale in between 0.075 and 0.078, with a stop below 0.071. In other words, if it breaks below the pullback low, I'd admit I'm wrong and exit, keeping losses under control. If it shoots straight up to 0.088, fails, and volume dries up, then this is just a sentiment-driven move—don't get attached.
Both long and short trades are possible here, but I'd rather wait for a confirmed pullback than chase the price. Older coins like $SAND can rise fast, but they can fall just as quickly, so don't size your position too aggressively.
