Market Overview for The Sandbox/Tether (SANDUSDT) on 2025-09-23

• Price drifted lower overnight before forming a morning consolidation.
• A key resistance level appears at 0.2750, with support near 0.2690.
• Volatility picked up after 09:00 ET, but volume remains mixed.
• The RSI and MACD show moderate divergence, hinting at potential reversal.

At 12:00 ET–1 on 2025-09-22, SANDUSDT opened at 0.2722 and drifted down, reaching a 24-hour low of 0.2669 before closing at 0.2742 by 12:00 ET on 2025-09-23. The price ranged between 0.2669 and 0.2767 over the past 24 hours. Total volume amounted to 12,432,271.0, while notional turnover reached $3,387,415.32. The session shows a moderate price recovery into the early afternoon.

Structure & Formations

SANDUSDT formed several key price levels over the 24-hour period. A distinct support zone appears near 0.2690, as price bounced off this area multiple times from 19:00 to 02:00 ET. A resistance cluster emerged around 0.2750–0.2760, tested during the late morning and afternoon. Notable patterns include a bearish engulfing formation between 09:00–10:00 ET and a bullish morning consolidation between 09:30–10:30 ET. A long-legged doji around 11:45 ET signals indecision.

Moving Averages

Using 15-minute data, the 20SMA and 50SMA show a converging trend, with the price currently above both. This suggests a moderate bullish bias but with no clear breakout confirmed. On the daily chart, the 50DMA, 100DMA, and 200DMA remain in a flat-to-bullish alignment, indicating no immediate bearish divergence. Price remains above the 200DMA, which is a positive sign for medium-term holders.

MACD & RSI

The MACD crossed into positive territory during the early afternoon, confirming the morning rally, but momentum has since weakened. The RSI currently sits near 55, which is neutral. Price reached an overbought condition earlier in the day (RSI ~65), but this did not result in a strong correction. A divergence between price and RSI near 06:00–08:00 ET hints at possible exhaustion in the bullish move.

Bollinger Bands

Volatility increased after 09:00 ET, expanding the Bollinger Bands from a narrow range. Price traded near the upper band between 09:30–10:45 ET and pulled back toward the midline, suggesting a possible reversion to the mean. The 20-period Bollinger Band width expanded by ~30% during the session, indicating heightened short-term uncertainty.

Volume & Turnover

Trading activity increased significantly after 09:00 ET, with peak volume reaching ~706,397.0 between 03:15–03:30 ET. Turnover spiked with the morning consolidation, but volume failed to confirm the bullish breakout above 0.2750. A divergence between price and volume is observed during the 10:00–11:00 ET period, suggesting caution for further upside.

Fibonacci Retracements

Applying Fibonacci to the recent 0.2669–0.2767 swing, 0.2750 aligns with the 78.6% retracement, acting as a psychological resistance level. The 0.2736 and 0.2717 levels correspond to the 61.8% and 38.2% retracements respectively, which have been touched multiple times and could offer support or resistance in the near term.

Backtest Hypothesis

A potential backtest strategy involves entering long positions on the break of the 0.2717 Fibonacci level (38.2% retracement) with a stop-loss placed below the 0.2706 support and a target at the 0.2750 resistance. This setup would be triggered during consolidative phases and tested during breakout attempts. Traders could use the Bollinger Band reversion and MACD divergence as filtering signals to manage risk. Given the current market structure and volume dynamics, this strategy may offer a favorable risk-reward profile for intraday traders.