Market Overview: The Sandbox/Tether (SANDUSDT) – 24-Hour Summary

• The Sandbox/Tether (SANDUSDT) traded in a tight range early before breaking out to the upside in the afternoon.
• Price surged past a key 24-hour high near 0.2844, with rising volume confirming the move.
• Momentum appears to be building as the RSI moved into overbought territory and MACD turned bullish.
• Volatility expanded as the asset moved out of a Bollinger Band contraction.
• A 61.8% Fibonacci level at ~0.2778 was broken, signaling a shift in sentiment.

The Sandbox/Tether (SANDUSDT) opened the 24-hour period on 2025-10-05 at 12:00 ET at 0.2822, with a high of 0.2864 and a low of 0.2741 before closing at 0.2855 at 12:00 ET the following day. Total volume for the period was 9,895,128 units, with a notional turnover of approximately $2,724,214 (calculated using average price and volume). The price exhibited a clear reversal pattern, starting with bearish pressure in the early morning but transitioning to a bullish bias as the session progressed.

Key support levels emerged at 0.2763 (broken but retested) and 0.2741, with resistance at 0.2805 and 0.2844. A bullish engulfing pattern was observed as price moved above 0.2844 in the afternoon, confirming a shift in sentiment. A long lower wick near 0.2741 also signaled rejection of further downside. The 20-period and 50-period moving averages on the 15-minute chart crossed above price during the final hours, supporting the bullish momentum.

The MACD crossed above the signal line with positive divergence, and the histogram showed growing bullish momentum. RSI rose into overbought territory, reaching 70+, but this does not immediately suggest a top due to strong volume. Bollinger Bands were in a contraction phase early in the period, followed by a breakout and expansion. Price remains above the 20-period SMA and is approaching the upper band, suggesting continued volatility. Fibonacci retracement levels showed strong relevance, with the 61.8% level at ~0.2778 being broken, indicating a move into new territory.

The volume profile displayed a clear increase in buying pressure after 16:00 ET, with several 15-minute periods showing volume spikes above 300,000 units. Notional turnover also rose as price surged higher. A divergence between price and volume was not observed, indicating strong confirmation of the bullish move. The highest turnover occurred around the 0.2844 level, confirming this as a key resistance-turned-support area.

Backtest Hypothesis

The backtesting strategy focuses on leveraging the convergence of bullish engulfing patterns, RSI overbought readings, and positive MACD divergence. Given the recent action on SANDUSDT, a strategy that enters long after a confirmed bullish engulfing candle closes above a 50-period moving average, with a stop loss at the low of the pattern and a target at the 61.8% Fibonacci extension, appears promising. This setup was confirmed in the data provided, particularly around 15:30–16:00 ET. A trailing stop loss could further lock in gains as the asset continues to hold above key support levels.