SAND surged 12% on Wednesday, moving prices to a 10-day high during the session. This rise was due to the crypto market being mostly green and AVAX also rising over the course of the day. At the time of writing, the global crypto market capitalization is about 3% higher.
Sandbox (SAND)
SAND was one of the notable moves on Hump Day, as the token’s price rose 12% over the course of the day.
After falling to a low of $1.12 on Tuesday, SAND/USD moved to a high of $1.28 earlier in the session today.
The move sent the token up to its highest level since June 25, approaching a key resistance level in the process.
The chart shows that this resistance is at $1.35 and has not been broken since late May when it was trading near $1.50.
The 14-day RSI needs to show a move above its own hurdle to not only reach this ceiling, but to potentially break it.
As of this writing, the Relative Strength Index is hovering at 57.50, just below resistance at 58.
Avalanche (AVAX)
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AVAX turned green over the course of Wednesday’s session as the token moved toward resistance points as well.
On Wednesday, AVAX/USD rose to an intraday peak of $18.90, which is more than $2 higher than yesterday’s low of $16.75.
As a result of this recent bullish pressure, the avalanche is now moving toward a $20 resistance point, which it has not hit since June 27.
Like SAND, AVAX needs to break out of the 47 resistance level on the RSI indicator in order to maintain an uptrend.
Recent price changes can be seen by looking at the moving averages that have been intertwined in recent days, following the crossing of the 10-day MA and 25-day MA.
Once this turbulence fades, the direction of prices may begin to become clearer, especially in the short term with momentum.
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