Market Overview for The Sandbox/Tether (SANDUSDT) – 2025-11-02

• Price declined from a 24-hour high of $0.21 to a low of $0.2036, closing at $0.2092.
• Volatility spiked during midday, with a 0.74% range in the 15:30–16:45 ET period.
• Volume surged in the final hours, reaching a peak of 286,925 units during the 09:00–10:45 ET window.
• RSI signaled overbought conditions during the morning rally, followed by a pullback into oversold territory.
• A bearish engulfing pattern formed around $0.21 at 05:45 ET, indicating potential short-term pressure.

The Sandbox/Tether (SANDUSDT) opened at $0.2062 on 2025-11-01 at 12:00 ET and closed at $0.2092 on 2025-11-02 at 12:00 ET, with a 24-hour high of $0.21 and a low of $0.2036. The pair traded at a total volume of 3,146,698 units, with a notional turnover of $659,410. The price action displayed a volatile and mixed session, with sharp intraday swings.

On the 15-minute chart, the price broke above the 20-period and 50-period moving averages in the early morning before retreating below both by midday. This suggests a lack of directional conviction, with bullish momentum failing to hold. The 200-period moving average remained above the price, reinforcing a broader bearish bias. The MACD (12, 26, 9) showed a narrowing histogram and a bearish crossover into negative territory, indicating weakening bullish momentum. RSI moved into overbought conditions in the morning and pulled back into oversold levels in the afternoon, signaling a potential consolidation phase.

Bollinger Bands widened during the midday selloff, with price closing near the lower band at 05:45 ET, suggesting increased volatility and short-term bearish pressure. A 61.8% Fibonacci retracement of the morning rally (from 0.2062 to 0.2101) aligned closely with the 0.2080 level, which served as a temporary floor in the afternoon. A bearish engulfing candle at 05:45 ET and a doji at 10:45 ET highlighted indecision and possible exhaustion.

Volume spiked in the final hours of the session, particularly at 09:00–10:00 ET and 14:30–15:00 ET, coinciding with the most significant price declines. The surge in volume during these periods, combined with a drop in turnover, suggests potential liquidity drying up and bearish participation. The divergence between volume and price—especially in the 10:00–12:00 ET window—may indicate a short-term bottoming process. Traders should watch for a breakout above the 0.2100 resistance or a breakdown below 0.2070, with the next 24 hours likely to see continued volatility and potential for a directional move.

The upcoming 24 hours may see the price test key support and resistance levels based on recent intraday swings. A breakdown below 0.2070 could extend the selloff, while a rebound above 0.2101 may signal a short-term reversal. However, high volatility and divergences in price-volume dynamics suggest caution for new long positions. A consolidation phase is also possible, depending on macro conditions and market sentiment.

Backtest Hypothesis

The observed intraday swings and overbought RSI readings suggest a potential backtesting opportunity using a simple overbought-entry, support-based-exit strategy. Given the price behavior, using the nearest swing-low pivot as an exit rule appears most suitable. This would involve:

• Entering long on RSI overbought signals (crossing above 70 on the daily chart).
• Exiting on the first daily close that revisits or undercuts the most recent swing-low before entry.

For SANDUSDT, a swing-low pivot-based exit would have captured the intraday pullbacks observed in the 15:30–16:00 ET and 10:30–11:00 ET windows. A backtest using RSI overbought entries and swing-low exits could help evaluate the viability of this approach in managing short-term volatility and extracting directional bias.