ADA, SAND Surge to Multi-Week Highs on Saturday – Market Updates Bitcoin News

Cardano was one of Saturday’s notable gainers, with the token surging to a three-week high. Also, the sandbox rose to an impressive multi-week high, as bullish sentiment in crypto market continued. As of this writing, global crypto market capital has risen nearly 2%.

Cardano (ADA)

Cardano (ADA), climbed to a 3-week high Saturday as the token rose for a forth consecutive session.

After a Friday low of $0.4894, the ADA/USD reached a high of $0.5235 on Saturday.

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.

Biggest Movers: ADA, SAND Surge to Multi-Week Highs on Saturday
ADA/USD – Daily Chart

The $0.5115 ceiling was breached earlier today, as the 10-day moving average (red) crossed its counterpart (blue).

Another notable occurrence in the chart is the 14-day relative strength index (RSI), which also moved above a ceiling at 56.00

Now at 58.00, ADA could regain the $0.5440 mark if it reaches its higher resistance level of 60.40.

The Sandbox (SAND).

Another notable mover was the sandbox (SAND), which helped to kick off the weekend. Prices also reached a multiweek high.

The SAND/USD traded above $1.00 on Saturday and reached an intraday peak of $1.02

Today’s peak is the strongest point that SAND has reached since August 26, and comes after four days of back-to-back gains.

Biggest Movers: ADA, SAND Surge to Multi-Week Highs on Saturday
SAND/USD – Daily Chart

There is a possibility that the run may be cut short as the RSI appears to meet a limit at 49.30.

The RSI currently stands at 48.33. This is the highest level since mid August, when prices traded above $1.35.

If the index clears the next hurdle, bulls will most likely target exits at resistance levels around $1.10.

Register here and get price analysis alerts sent directly to your inbox every week.

What will the weekend bring? Please share your opinions with us in the comments.

Eliman Dambell

Eliman is a market analyst with a diverse perspective. He has worked in various capacities, including as a retail trading teacher, brokerage director, and market commentator for Crypto, Stocks, and FX.

Images CreditsShutterstock. Pixabay. Wiki Commons

DisclaimerThis information is provided for educational purposes only. This article is not intended to be a solicitation or offer to sell or buy any product, service, or company. is not a provider of investment, tax, legal or accounting advice. The author and the company are not responsible for any loss or damage caused or alleged caused by the content or use of any goods, services, or information mentioned in the article.

Get more Crypto News at CFX Magazine