Biggest Movers: SAND up by 12% on Wednesday, Hitting a 10-Day High

SAND surged by as a lot as 12% on Wednesday, as costs moved to a ten-day excessive throughout the session. The rise comes as crypto markets had been largely within the inexperienced, with AVAX additionally rising over the course of the day. As of writing, the worldwide crypto market cap is sort of 3% greater.

The Sandbox (SAND)

SAND was one of many notable movers on hump day, as costs of the token rose by as a lot as 12% over the course of the day.

After falling to a low of $1.12 on Tuesday, SAND/USD moved to a excessive of $1.28 earlier in at present’s session.

The transfer noticed the token climb to its highest degree since June 25, shifting nearer to a key resistance degree within the course of.

Looking on the chart, this resistance is on the $1.35 level, and has not been damaged since late May, when costs had been buying and selling across the $1.50 mark.

In order to not solely attain this ceiling, however doubtlessly break it, we would wish to see the 14-day RSI transfer past a hurdle of its personal.

As of writing, the Relative Strength Index is monitoring at 57.50, which is barely beneath a resistance degree of 58.

Avalanche (AVAX)

AVAX was additionally within the inexperienced over the course of Wednesday’s session, because the token equally moved in direction of a resistance level.

Wednesday noticed AVAX/USD rally to an intraday peak of $18.90, which is over $2 greater than yesterday’s low at $16.75.

As a results of this latest bullish stress, avalanche is now shifting in direction of a resistance level of $20, which hasn’t been hit since June 27.

Similar to SAND, to ensure that AVAX to proceed to pattern greater, we would wish to see it escape of its resistance degree at 47, on the RSI indicator.

The latest volatility in costs might be seen by trying on the shifting averages, which have been intertwined in latest days, following a cross between the 10-day and 25-day MAs.

Once this turbulence fades, we could start to see costs in a clearer route in momentum, particularly within the brief time period.

Do you count on AVAX to achieve $20 in upcoming days? Let us know your ideas within the feedback.