Market Overview: The Sandbox/Tether (SANDUSDT) – November 9, 2025

Summary
• Price opened at $0.2025 and closed at $0.2023 with a high of $0.2063 and low of $0.1980.
• Volatility and turnover spiked after 15:00 ET as price retested a prior 24-hour high.
• Volume increased to 1.76M contracts at 17:00 ET, suggesting possible distribution.
• RSI-14 briefly entered overbought territory in the afternoon but failed to close above 70.

The Sandbox/Tether (SANDUSDT) opened at $0.2025 and closed at $0.2023 on 2025-11-09, trading between $0.1980 and $0.2063. Total 24-hour trading volume reached 14.6M contracts, with notional turnover of approximately $2.94M. The session featured a sharp midday rebound and a late surge above the 15-minute high.

Structure and formations suggest a developing range-bound pattern between $0.2000 and $0.2060. A key resistance level appears to be forming near $0.2060, where price tested and pulled back twice in the past 24 hours. A bullish engulfing pattern formed at 15:45 ET on a 15-minute chart, suggesting short-term buying interest. However, the pattern failed to close above the high of the prior candle, casting doubt on its reliability. A doji formed at 03:45 ET, indicating indecision and possible support consolidation near $0.1990.

The 20-period EMA crossed above the 50-period EMA during a morning rally, signaling a temporary bullish bias. However, the 50-period EMA remains above the 100 and 200-period lines, suggesting a longer-term bearish bias. MACD turned positive midday, confirming the short-term bullish momentum, but failed to hold the signal line, indicating waning strength. RSI-14 peaked at 69.5, nearly reaching overbought territory, but failed to close above 70, suggesting a potential pullback.

Bollinger Bands widened significantly during the late afternoon rally, with price closing near the upper band. This expansion indicates heightened volatility, but also suggests overextension. The 15-minute RSI divergence and the failure to hold above the 20-period EMA may signal an upcoming consolidation phase. Fibonacci retracements from the key $0.2060 high show 38.2% retracement at $0.2033 and 61.8% at $0.2007—levels where price has shown resistance and support in the last 24 hours.

Volume spiked significantly at 17:00 ET with a 176,416-contract candle, but the price closed lower, indicating possible distribution. Notional turnover also spiked, but the price action suggests divergence, which could be a precursor to a reversal.

Backtest Hypothesis
The RSI-14 indicator is a key momentum oscillator used in the proposed backtest strategy. It measures overbought (>70) and oversold (<30) conditions, which could be used to generate trade signals for the “HOLD.P – Harbor Alpha Layering ETF.” However, the system could not retrieve RSI-14 data for the specified ticker, likely due to limited market coverage or an incorrect symbol. To proceed with the backtest, it’s essential to either confirm the correct ticker or suggest an alternative ETF with robust historical data. Once a valid ticker is provided, the RSI-14 values can be calculated and used to identify overbought conditions. The strategy then triggers a buy at the next day’s open, holds for five trading days, and exits. Performance metrics will compare this strategy to a simple buy-and-hold baseline. This approach aims to assess the effectiveness of using RSI-14 for timing long-term entry points in a selected ETF.

The next 24 hours could see a retest of the $0.2035–$0.2060 resistance zone, especially if volume picks up after the 17:00 ET spike. A failure to hold above $0.2035 could lead to a pullback toward $0.2010. Investors should monitor the 50-period EMA for signs of a shift in bias.