ADA, SAND rise to multi-week highs on Saturday – Market Updates Bitcoin News
Cardano was one of Saturday’s notable winners, with the token rising to a three-week high. The sandbox was also in the green, rising to a multi-week high, as sentiment in the cryptocurrency market is mostly bullish. Overall, the global crypto market value is up almost 2% at the time of writing.
Cardano (ADA)
Cardano (ADA) climbed to a three-week high on Saturday, as the token rose for a fourth consecutive session.
After a low of $0.4894 on Friday, ADA/USD could reach a high of $0.5235 to start the weekend.
Saturday’s peak is the highest point the token has traded at since August 18, and comes as prices climbed above a major resistance point.
The $0.5115 ceiling was breached earlier in the day, coming as the 10-day (red) moving average crossed against its 25-day (blue) counterpart.
Looking at the chart, another notable event is that the 14-day Relative Strength Index (RSI) also moved above a ceiling, at 56.00.
Now tracking near 58.00, should the index reach its higher resistance point of 60.40, we could see the ADA price recapture the $0.5440 mark.
Sandbox (SAND)
The Sandbox (SAND) was another notable draw to start the weekend, with prices also hitting a multi-week high.
SAND/USD managed to climb above the $1.00 mark on Saturday, hitting an intraday high of $1.02 in the process.
Today’s high is the strongest point that SAND has reached since August 26, and comes after four days of back-to-back gains.
However, some fear that this run could be aborted, as the RSI looks set to collide with a ceiling at 49.30.
At the time of writing, the RSI is tracking at 48.33, which is the highest point since mid-August, when prices traded above $1.35.
Should the index move past the upcoming hurdle, bulls are likely to aim for the exit near resistance around $1.10.
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Will the sandbox stay above $1.00 this weekend? Let us know your thoughts in the comments.
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