Market Overview for The Sandbox/Tether (SANDUSDT) – 2025-10-04

• Price declined from 0.2896 to 0.2760, forming bearish momentum with expanding volatility.
• Volume surged at 2025-10-03 171500 with a 0.2887 close, signaling bearish continuation.
• RSI dropped below 30, suggesting oversold conditions; Bollinger Bands show price at lower extremes.
• A large bearish engulfing pattern formed at 2025-10-04 003000, confirming downward bias.
• Fibonacci retracement suggests potential support at 0.2754–0.2760 from the 0.279–0.284 swing.

Over the past 24 hours, The Sandbox/Tether (SANDUSDT) traded from 0.2896 to 0.2760, closing at 0.2762. Total volume reached 5.35 million, and turnover stood at 1.47 million USD. The pair exhibited bearish pressure, especially after the large 15-minute candle at 17:15 ET on 2025-10-03, which saw a 216,913.8 USD turnover and a 0.2887 close.

Structure and formations on the 15-minute chart revealed a strong bearish bias. A large bearish engulfing pattern emerged at 00:30 ET on 2025-10-04, with the close at 0.2863 and a high of 0.2868, confirming a reversal of bullish momentum. Key support levels appear at 0.2760–0.2770, where price has bounced twice in the final 24 hours. Resistance levels remain untested above 0.284–0.285. A potential reversal could occur if price holds above these support levels and forms a bullish hammer or inverted hammer pattern.

On the 15-minute chart, the 20-period and 50-period moving averages remained bearish, with the 50 SMA below the 20 SMA, confirming a downward trend. The daily chart shows the 50-period and 200-period moving averages also in a bearish crossover, indicating a longer-term downtrend. The pair remains below both moving averages, reinforcing the bearish outlook.

Momentum indicators reflected strong bearish momentum. The RSI dropped below 30 into oversold territory, suggesting a potential rebound if buyers enter the market. However, without a clear reversal pattern or bullish volume confirmation, the oversold condition may not guarantee a rebound. The MACD remained negative with bearish divergence, indicating that selling pressure may persist. Bollinger Bands showed volatility expansion, with price consistently sitting at the lower band, suggesting increased bearish participation.

Volume and turnover data revealed significant bearish participation. A notable spike occurred at 17:15 ET on 2025-10-03, with a 216,913.8 USD turnover. This volume coincided with a sharp decline in price, providing confirmation of bearish continuation. However, a divergence in volume and price could signal weakening momentum, but such a divergence was not observed. Turnover remained elevated across the 24-hour period, especially during the final two hours, where volume averaged 200k per 15-minute candle.

Fibonacci retracement levels suggest potential support and resistance zones. From the 0.279–0.284 swing, key support levels align at 0.2754 (61.8%) and 0.2767 (50%). Resistance levels are expected at 0.279–0.280, where price has previously struggled. If the price breaks above 0.2805, a test of 0.283–0.284 could follow. The current price is near the 61.8% level, which may act as a critical support zone.

Backtest Hypothesis
A potential backtest strategy could involve a short entry on a bearish engulfing pattern with a stop-loss above the engulfing high and a target at the nearest Fibonacci support level. If applied to this 15-minute dataset, a trade at 00:30 ET on 2025-10-04 at 0.2863 with a stop at 0.2868 and a target at 0.2760 would have yielded a 3.7% gain, assuming no slippage. This setup aligns with the MACD divergence and RSI oversold condition. A longer-term strategy using daily moving average crossovers (50/200) could also confirm bearish trends and provide a filter for entries based on momentum.