The SAND gained 12% on Wednesday as prices moved to a ten-day high during the session. The rise came when the crypto markets were mostly in the green, with AVAX also rising during the day. At the time of writing, the global crypto market cap is up around 3%.
SAND was one of the notable movers on the day on the hump, as the price of the token increased by 12% during the day.
After falling to a low of $1.12 on Tuesday, SAND/USD moved to a high of $1.28 earlier in today’s session.
The move saw the coin climb to its highest level since June 25, moving closer to a key resistance level in the process.
Looking at the chart, this resistance is located at the $1.35 point, and has not been broken since late May, when the price was trading around $1.50.
In order not only to reach this range, but also to potentially break it, we need to see the 14-day RSI move above its barrier.
At the time of writing, the Relative Strength Index is tracking at 57.50, which is slightly below the resistance level of 58.
AVAX was also in the green during Wednesday’s session, as the token similarly moved towards a resistance point.
On Wednesday, AVAX/USD rebounded to an intraday peak of $18.90, up $2 from yesterday’s low of $16.75.
As a result of this recent bullish pressure, the avalanche is now heading towards the $20 resistance point, which has not been hit since June 27.
Similar to SAND, for AVAX to continue trending higher, we need to see it break above its resistance level at 47 on the RSI indicator.
The recent volatility in prices can be seen by looking at the moving averages, which are intertwined in the recent past following a cross between the 10-day and 25-day MAs.
Once this turbulence fades away, we can start to see the price move in a clear direction, especially in the short term.
Do you expect AVAX to reach $20 in the coming days? Let us know your thoughts in the comments.
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