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.
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.
6 Likes
Reward
6
7
Repost
Share
Comment
0/400
NewDAOdreamer
· 2h ago
The double bottom has stabilized, and increasing volume means it's speaking. The feeling of this rebound is coming.
View OriginalReply0
GateUser-a606bf0c
· 16h ago
The double bottom is so obvious, and the buying pressure is quite strong. Looking forward to this rebound breaking through 0.1447.
View OriginalReply0
RektRecorder
· 16h ago
The double bottom does have some potential, but whether the support at 0.134 can hold depends on the subsequent trading volume. Simply increasing volume for a rebound is not enough.
View OriginalReply0
MagicBean
· 16h ago
The idea that a double bottom formation indicates strong buying pressure is getting tired, and I'm just worried that the rebound will be cut short and drop again.
View OriginalReply0
SeeYouInFourYears
· 16h ago
Double bottom is indeed interesting, but can this wave push up to 0.1447? It feels a bit uncertain.
---
Volume expansion is a signal; buying pressure is strong. Short-term outlook is not bearish.
---
Stop loss at 138, target 1447. The ratio is okay. Let's gamble a little.
---
Golden cross? Then let's wait and see, don't rush to buy.
---
Support at 0.134 is so solid, indicating that some people still have confidence.
---
Another double bottom and a golden cross, sounds good but can it be realized?
---
A rebound is possible, but don't be too greedy, everyone.
---
Strong buying pressure is a fact, and the technical chart also looks good.
View OriginalReply0
MevWhisperer
· 17h ago
The double bottom is indeed stable, and the volume matches nicely. It looks like this wave at 0.1447 could go higher.
View OriginalReply0
TokenomicsTherapist
· 17h ago
Double bottom, this time I feel there's some potential, but we still have to wait for a breakout to confirm.
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.