Cardano was one of Saturday’s notable gainers, with the token surging to a three-week high. The sandbox was also in the green, rising to a multi-week peak, as sentiment in the cryptocurrency market remains mostly bullish. Overall, the global crypto market cap is up nearly 2% as of writing.
Cardano (ADA)
Cardano (ADA) climbed to a three-week high on Saturday, as the token rose for a fourth consecutive session.
Following a low of $0.4894 on Friday, ADA/USD was able to reach a peak of $0.5235 to start the weekend.
Saturday’s top is the highest point the token has traded at since August 18, and comes as prices climbed above a major resistance point.
The ceiling of $0.5115 was broken earlier in the day, and comes as the 10-day (red) moving average crossed against its 25-day (blue) counterpart.
Looking at the chart, another notable occurrence is that the relative strength index (RSI) of 14-days also moved beyond a ceiling, at 56.00.
Now tracking close to 58.00, should the index hit its higher resistance point of 60.40, we could see ADA price recapture the $0.5440 mark.
The Sandbox (SAND)
The sandbox (SAND) was another notable mover to start the weekend, with prices also hitting a multi-week high.
SAND/USD was able climb above its $1.00 mark on Saturday, hitting an intraday high of $1.02 in the process.
Today’s peak is the strongest point that SAND has reached since August 26, and comes after four days of back-to-back gains.
Some fear that this run could be cut short, however, as the RSI looks set to collide with a ceiling at 49.30.
As of writing, the RSI is tracking at 48.33, which is its highest point since mid-August, when prices were trading above $1.35.
Should the index move past the upcoming hurdle, bulls will likely aim to target exits close to resistance around $1.10.
Register your email here to get weekly price analysis updates sent to your inbox:
Will the sandbox remain above $1.00 this weekend? Let us know your thoughts in the comments.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Credit: Source link
