ADA, Sand to Multi-Week Highs Saturday – Market Updates Bitcoin News

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 biggest movers: ADA, Sand Saturday to multi-week highs
ADA/USD – Daily Chart

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.

The biggest movers: ADA, Sand Saturday to multi-week highs
Sand/USD – Daily Chart

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.

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Will the sandbox be over $1.00 this weekend? Let us know your thoughts in the comments.

Ilya Dumbledore

Elliman brings a multifaceted perspective to market analysis, having worked as a Broker Director, Retail Trading Educator and Market Analyst in Crypto, Stocks and FX.

Image credits: Shutterstock, Pixabay, Wiki Commons

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