Market Overview for SANDUSD on 2025-09-04

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• SANDUSD opened at $0.2821, peaked at $0.2829, and closed at $0.2753 on 2025-09-04 at 12:00 ET, marking a bearish 24-hour session.
• A distinct downtrend unfolded from 03:30 ET onward, with a low of $0.2737 before a mild rebound in the afternoon.
• Total volume was 1,046.0 and turnover was $296.84, reflecting elevated trading interest during the early morning selloff.
• The price formed a bearish engulfing pattern near $0.2829 and a hanging man near $0.2742, signaling potential exhaustion in the short-term.
• RSI moved into oversold territory, suggesting a possible bounce, though trend strength remains to the downside.

The SANDUSD pair opened at $0.2821 at 12:00 ET on 2025-09-03 and traded as high as $0.2829. It closed the 24-hour period at $0.2753 on 2025-09-04 at 12:00 ET. Total volume during the session was 1,046.0, while total turnover reached $296.84. A notable bearish reversal unfolded following a morning consolidation period, as price broke below key support levels during the overnight hours in New York.

Structure & Formations

The SANDUSD price chart displayed a bearish engulfing pattern on the 15-minute timeframe at $0.2829 on 03:30 ET, followed by a sharp decline that formed a hanging man candle at $0.2742. Price found temporary support at $0.2737 but failed to retest the intraday high. A key support zone appears to have formed near $0.2737–$0.2742, with resistance hovering near $0.2829. The formation of a descending triangle between 03:30 and 08:45 ET suggested continuation of the bearish bias after a breakout.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages were in a bearish crossover trend, with the price consistently trading below both. On the daily chart, the 50-period MA was below the 100-period and 200-period MAs, reinforcing the bearish bias. The price closed near the lower end of the 50-period MA, indicating continued bearish momentum in the near term.

MACD & RSI

The MACD line remained negative throughout most of the session, with the histogram narrowing slightly in the afternoon as the selloff showed signs of easing. The RSI dropped to oversold levels near 27 during the early morning selloff, raising the possibility of a short-term bounce. However, the slow RSI and negative MACD suggest that the downtrend may persist unless a strong bullish reversal forms.

Bollinger Bands

Price action showed volatility expansion as the bands widened during the selloff from 03:30 to 05:30 ET. Following a consolidation period, the bands narrowed again in the afternoon, indicating a potential breakout setup. Price currently resides near the lower band, consistent with overbought conditions in the opposite direction, suggesting caution on further short-term bearish bets.

Volume & Turnover

Volume spiked sharply during the early morning hours (03:30–06:30 ET), with the largest volume spike occurring at 04:50 ET. This coincided with the formation of a hanging man pattern and a price drop to $0.2742. Notional turnover also showed a peak during that period, indicating strong bearish conviction. In contrast, volume remained subdued in the afternoon despite a mild rebound, suggesting a lack of strong bullish interest.

Fibonacci Retracements

A recent swing high of $0.2829 and swing low of $0.2737 were used to plot Fibonacci retracement levels. The 61.8% retracement level is around $0.2784, which has not yet been tested. Price action currently sits near the 38.2% retracement level at $0.2780, but bears appear to have control. A break below $0.2737 could push the next 38.2% level down to $0.2714, offering a potential target if the selloff resumes.

Backtest Hypothesis

Given the bearish engulfing and hanging man patterns observed during the early morning selloff, a backtesting strategy could be constructed that looks for similar patterns near key resistance levels, combined with a break below the 50-period MA and a MACD crossover to the downside. Entries could be triggered on a confirmation candle breaking a Fibonacci retracement level such as 61.8% or 78.6%, with a stop above the nearest resistance. A trailing stop could be used to capture potential short-term momentum while managing downside risk in a highly volatile market.