Market Overview for The Sandbox/Tether (SANDUSDT)

• SAND/USDT edged higher over the 24-hour period amid fluctuating volatility and mixed momentum.
• Price tested key resistance levels but lacked strong follow-through buying above 0.2165.
• Volume saw a notable spike in early bearish moves but remained subdued in recent bullish waves.
• RSI approached overbought territory briefly, hinting at potential consolidation.
• Bollinger Bands widened in mid-session, indicating increased uncertainty and range-bound trading ahead.

The Sandbox/Tether (SANDUSDT) opened at $0.2143 on 2025-10-28 at 12:00 ET and reached a high of $0.2168 and a low of $0.2067 before closing at $0.2118 at 12:00 ET on 2025-10-29. The total trading volume over the 24-hour period was approximately 11.65 million units, with a notional turnover of $2.44 million.

The price action revealed a volatile day, punctuated by bearish breakdowns and subsequent retests of key levels. A strong bearish candle formed around 20:30 ET, printing a low of 0.2067 before a partial recovery ensued. The price then consolidated in a range between 0.209–0.213, with buyers stepping in near key support levels around 0.2100–0.2110. A bullish reversal was attempted after 05:00 ET, with a high of 0.2168, but lacked the momentum to break past 0.2170. A bearish divergence between the RSI and price was evident in the late ET hours, hinting at possible exhaustion in the upward thrust.

The 15-minute chart showed the price oscillating between a 20 and 50-period moving average, with a crossover of these lines indicating potential for a shift in bias. The RSI reached a peak near 68 during the midday rally, which could signal a short-term overbought condition. However, given the strong volume in bearish moves, caution is warranted. Bollinger Bands were wide in the early part of the day and contracted slightly in the afternoon, suggesting a possible consolidation ahead.

Fibonacci retracement levels from the 0.2067 low to the 0.2168 high showed 0.2147 and 0.2126 as key resistance and support, respectively. The price briefly touched the 0.2157 retracement before retreating, reinforcing the bearish pressure in the upper end of the range. Volume was notably higher in the bearish candles, with the 20:30 ET candle alone accounting for a significant portion of the day’s turnover. The divergence between bullish price action and bearish volume suggests a potential for further downside in the near term.

The backtesting strategy described involves a momentum-based setup that uses a combination of Fibonacci retracements and RSI divergence to identify potential reversal points. This aligns with the observed price behavior in the 2025-10-29 session, where RSI reached overbought territory without corresponding follow-through volume. A potential backtest could evaluate entering short positions on RSI divergence and Fibonacci key levels during range-bound conditions. The strategy may benefit from incorporating a volatility filter based on Bollinger Bands contraction to reduce false signals.