Market Overview for The Sandbox/Tether

Summary
• Price action shows a bearish bias, with a key support level at 0.1168 and resistance at 0.1233.
• High volume activity observed during the sharp decline to 0.1162, confirming bearish momentum.
• RSI reached oversold conditions, suggesting potential for a near-term rebound, but Bollinger Bands show compressed volatility.
• A large bullish engulfing pattern formed near 0.1195–0.1201, indicating possible short-term buying interest.
• Volume and turnover diverged during the morning session, hinting at weakening bear pressure.

24-Hour Price Action and Volume

The Sandbox/Tether (SANDUSDT) opened at 0.1214 on 2025-12-16 at 12:00 ET and traded as high as 0.1248 before closing at 0.1178 at 12:00 ET on 2025-12-17. The 24-hour range was 0.1161 to 0.1248. Total volume reached 10,162,494.0, with a notional turnover of approximately $1,183,538.64 (calculated using average price).

Key Price Levels and Candlestick Patterns

Price found strong bearish resistance near 0.1233 and 0.1248, with a large bearish rejection at these levels. A key support level appears to be forming at 0.1168, where price consolidated after breaking below 0.12. A bullish engulfing pattern emerged at 0.1195–0.1201, suggesting short-term buying interest may be stepping in. A morning doji at 0.1199–0.1199 hinted at indecision, while the strong bearish body forming at 0.1245–0.1217 confirmed a reversal from earlier bullish momentum.

Volatility and Momentum

Bollinger Bands displayed a tightening during the midday session, followed by a sharp expansion during the afternoon sell-off. This is consistent with a buildup in bearish momentum before a significant price drop. RSI hit an oversold reading near 0.1162, potentially signaling a near-term bounce, but without strong volume confirmation, a rebound may remain limited. MACD showed a bearish crossover with the signal line, and negative divergence with price during the morning session, suggesting a continuation of downward pressure.

Volume and Turnover Divergence

Despite heavy volume during the sharp drop to 0.1162, notional turnover weakened in the final hours of the 24-hour window, suggesting a possible exhaustion of bearish selling. However, during the rebound from 0.1168 to 0.1178, volume remained relatively low, indicating weak conviction in the move.

Fibonacci and Trend Context

A 61.8% Fibonacci retracement level from the recent 0.1162 to 0.1248 swing is found at 0.1221, which has acted as a key resistance area. Price appears to be consolidating near 0.1168–0.1178, which corresponds to the 38.2% retracement level, suggesting a potential pivot point for short-term traders.

The market may continue to test the 0.1168 support in the next 24 hours, with a possible bounce if buying interest steps in. However, a breakdown below that level could accelerate downward momentum. Investors should remain cautious as volatility remains elevated and trend continuation remains a strong possibility.