Summary
•
formed a bullish engulfing pattern following a deep pullback to 0.1474.
• Price broke above 0.1532, with volume confirming the breakout.
• RSI moved into overbought territory, suggesting a potential pullback.
• Volatility expanded, with price trading outside the upper Bollinger Band for much of the session.
• 50-period MA crossed above key support at 0.1494, signaling a short-term bullish bias.
The Sandbox/Tether (SANDUSDT) opened at 0.148 on 2026-01-17 at 12:00 ET, surged to 0.1661, and closed at 0.1496 by 12:00 ET on 2026-01-18. Total volume reached 68,623,450.0, with a notional turnover of 10,121,135.18.
Structure & Formations
SANDUSDT experienced a sharp rebound from 0.1474 after a 5-minute bearish candle with a long lower wick, signaling short-covering. A bullish engulfing pattern emerged as price closed above 0.1532 with strong volume. Key support levels were retested at 0.1494 and 0.1480, with the 0.1474 level acting as a critical floor.
Moving Averages
On the 5-minute chart, the 20-period MA crossed above the 50-period MA, reinforcing a short-term bullish bias. On the daily chart, the 50-period MA is approaching the 100-period MA, suggesting potential for a broader upward shift.
MACD & RSI
The 12:00 ET close saw RSI at 70, indicating overbought conditions, while the MACD histogram showed positive divergence during the breakout. These suggest that momentum may be slowing as price approaches key resistance.
Bollinger Bands
Volatility expanded significantly during the afternoon and evening hours, pushing price above the upper Bollinger Band multiple times. Price has since retracted into the band, but the widening of the bands suggests ongoing market uncertainty.
Volume & Turnover
Volume spiked above 16 million at 00:15 ET and again at 08:15 ET, confirming bullish momentum. Turnover increased in tandem, indicating strong participation. No significant volume divergence was observed, supporting the continuation of the current trend.
Fibonacci Retracements
The pullback to 0.1474 aligned with the 61.8% Fibonacci retracement level of the prior 5-minute rally. Price now appears to be testing the 38.2% retracement level at 0.1536 on the recent swing.
Looking ahead, SANDUSDT may face near-term resistance at 0.1540 and could pull back to retest the 0.1500 level in the next 24 hours. Investors should be mindful of the overbought RSI and potential for a consolidation phase.
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