SANDUSDT - LONG IDEA
Hello Traders,
Here’s a new analysis on SAND/USDT, as the stop-loss from the previous idea was triggered.
Currently, the price has entered a well-defined zone that has been subject to multiple rejections and retests over the past weeks. However, it is also reacting to a key confluence area, rejecting both an important trendline and the 0.618 Fibonacci retracement level (at 0.59).
For now, we’ll monitor the daily candle close to assess whether there’s a solid opportunity to open a long position.
If this pivot level is breached and a Break of Structure (BoS) begins to take shape, the more prudent approach will be to wait for the price to drop toward the 0.48 region before considering a long entry.
Here’s a new analysis on SAND/USDT, as the stop-loss from the previous idea was triggered.
Currently, the price has entered a well-defined zone that has been subject to multiple rejections and retests over the past weeks. However, it is also reacting to a key confluence area, rejecting both an important trendline and the 0.618 Fibonacci retracement level (at 0.59).
For now, we’ll monitor the daily candle close to assess whether there’s a solid opportunity to open a long position.
If this pivot level is breached and a Break of Structure (BoS) begins to take shape, the more prudent approach will be to wait for the price to drop toward the 0.48 region before considering a long entry.
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