Cardano was one of Saturday’s top gainers, with the token hitting a three-week high. The sandbox was also in the green, reaching multi-week highs, as sentiment in the cryptocurrency market remained mostly bearish. Overall, the global crypto market is up about 2% at the time of writing.
Cardano (ADA)
Cardano (ADA) rose to a three-week high on Saturday, as the signal rose for the fourth consecutive session.
Following Friday’s low of $0.4894, ADA/USD managed to reach a peak of $0.5235 to start the weekend.
Saturday’s high was the highest point the token has traded since August 18, and it was when the price rose above a key resistance point.
The $0.5115 ceiling was broken earlier in the day, and comes as the 10-day (red) moving average crosses its 25-day (blue) counterpart.
Looking at the chart, another significant event is the 14-day Relative Strength Index (RSI), which has also moved above the ceiling, at 56.00.
Now tracking towards 58.00, if the index hits its high resistance point of 60.40, we can see the price of ADA recapture the $0.5440 mark.
The sandbox (SAND)
Sand (SAND) was another notable mover to start the weekend, with prices reaching multi-week highs.
SAND/USD managed to break above the $1.00 mark on Saturday, hitting an intraday high of $1.02 in the process.
Today’s high is the strongest point the SAND has reached since August 26, and comes after four days of back-to-back gains.
Some fear this run could be short-lived, but the RSI looks poised to crash into the ceiling at 49.30.
As of writing, the RSI is tracking at 48.33, which is the highest point since mid-August when the price traded above $1.35.
If the index breaks above the upcoming barrier, bulls should target exits around $1.10.
Register your email here to have weekly price analysis delivered to your inbox:
Will the sandbox be over $1.00 this weekend? Let us know your thoughts in the comments.
Image credits: Shutterstock, Pixabay, Wiki Commons
DisclaimerThis article is for informational purposes only. It is not an offer or solicitation 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 shall be liable, directly or indirectly, for any damages or losses arising out of the use of or reliance on any content, goods or services referred to in this paragraph.