SANDUSDT Breaks Major Downtrend โ Golden Pocket Retest!
Technical Analysis:
SAND/USDT has successfully broken out of a descending trendline that had been capping the price since late 2024. The breakout occurred with increased volume, signaling strong buyer interest.
Following the breakout, price rallied and is now retesting a key support zone, which includes:
A demand zone (yellow box) between 0.2748 - 0.2885, aligning with the Fibonacci Golden Pocket (0.618 - 0.5)
A solid horizontal support around 0.2913
Fibonacci retracement levels are clearly defined:
0.3126
0.3467
0.4010
0.5417
Up to major resistance near 0.9384
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Bullish Scenario ๐ข:
If the price holds above the Golden Pocket zone and prints bullish confirmation (such as a bullish engulfing or hammer candlestick), then further upside potential is likely:
1. Initial targets: 0.3126 and 0.3467
2. Mid-range targets: 0.4010 and 0.5417
3. Long-term potential: 0.6981 and possibly the major resistance at 0.9384
Stronger confirmation would come from a daily candle closing above 0.3126.
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Bearish Scenario ๐ด:
If price breaks below the 0.2748 zone, it could indicate a failed breakout, potentially leading to:
1. Initial support: 0.2700
2. Deeper pullback zone: 0.2131 (previous low)
3. Potential fakeout of the trendline breakout
A daily close below 0.2748 would strongly validate the bearish setup.
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Chart Pattern Overview:
Descending Triangle Breakout already confirmed
Price is now in the retest phase of the breakout
The Golden Pocket Fibonacci zone is the crucial point of trend continuation or reversal
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Conclusion:
The breakout from the long-standing downtrend marks a strong shift in structure. However, a successful retest at the Golden Pocket will be key to confirming further bullish continuation. If buyers defend this zone, SAND is likely to print a higher low and resume its upward move.
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