SAND rose more than 15% on Friday as crypto prices rebounded after selling off during Thursday’s trading session SAND fell to a one-week low yesterday and another notable gainer MATIC, fell to a nearly 10-day low on Thursday. Overall, the crypto market is up 1.30% at the time of writing.
SAND was one of the most notable moves during today’s trading session as crypto prices rebounded on Friday.
Following a low of $0.9644 on Thursday, SAND/USD rose to an intraday peak of $1.17 at the start of July.
Token prices have risen little over the past two weeks after hitting a bottom of $0.7393 on June 18.
This was the lowest SAND has been since October 2021, prompting bulls to re-enter the market and buy the dip.
Looking at the chart, and despite recent price uncertainty, the 10-day moving average (MA) is slightly crossing the 25-day MA.
This uptrend means that bulls may try to raise prices further, targeting the $1.50 point.
MATIC has been trading in a channel of lows for the past seven days, but today’s rally halted that trend.
It fell to a bottom of $0.4224 on Thursday but rallied to a peak of $0.4957 on Friday.
As of this writing, MATIC/USD is up nearly 9% from yesterday’s low, but volatility remains high.
Bears seem to be trying to bring the price down to the support level around $0.3975, but the bulls are resisting this for now.
After breaking out of the 14-day RSI support point at 46.50, the indicator has struggled to find a new floor and is currently at 42.79.
Unless the bears can push back toward this old support point, they will look to push this to a lower level, 39.20, which would almost certainly take MATIC below $0.4000.
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