SANDUSDT Analysis: Correction before bullish continuation ?

Hello traders, i hope you're doing well.

Recently, the price broke above the $0.71 area, breaching several lower highs and key structural zones. Currently, the price has rejected the trendline within the channel that has been forming over the past few weeks.

I anticipate a potential correction towards the $0.55-$0.59 area before a possible retest of December high. This zone aligns with a strong support level, the 0.618 Fibonacci retracement, and the lower boundary of the channel.

If the price retrace to this area, there is a high probability of a bullish rebound.

Trade safely and manage your risk.