To start the week, RUNE rose more than 10%. It surged as global cryptocurrency markets tried to get into the green on the 4th of July. After an uneven start, crypto market capital is now up 3.15 percent as of this writing. SAND, another notable player, has extended its recent gains by more than 13%.
Thorchain (RUNE).
RUNE saw a noteworthy mover Monday as the prices rose more than 10% on the Independence Day of the United States.
Prices climbed closer to a one week high when the token reached an intraday high of $2.08
At the time of writing RUNE/USD was trading higher than usual for the third session in a row, nearing a critical resistance level.
This ceiling is the $2.50 mark which hasn’t been hit since June 25, when bulls made an attempt to move past this point.
The chart shows that although prices could once more collide with the ceiling, it is possible for a breakout to be prevented by an obstacle.
This would correspond to the resistance at 49.80 on the 14 day RSI. It hasn’t been broken since April early.
The Sandbox (SAND).
SAND was also one of today’s biggest gainers, as prices rose by as much as 12% earlier in the day.
Following a low of $1.02 to end the weekend, SAND/USD surged to an intraday peak of $1.15 during Monday’s session.
SAND rose in the back-to-back session for its first time in more than one week. It comes as prices move further away from recent support levels.
Despite bearish efforts to move the token lower, this support point of $0.95 has held strong.
At the time of writing bearish pressure had turned to bullish and traders are now aiming for a $1.50 ceiling.
We could witness a new surge in bullish momentum as the moving averages for 10-days (10-days) and 25-days have recently crossed in an upward direction.
Is it possible that SAND will reach $1.50 by this week? We’d love to hear your comments.
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