RUNE surges to begin the week, while SAND extends its recent gains

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RUNE surges to begin the week, while SAND extends its recent gains

RUNE surges to begin the week, while SAND extends its recent gains
Source: BitcoinCom
1657001833 05 Jul / 06:17

RUNE began the week with a gain of almost 10 percent as global crypto markets raced to the green on July 4. After a cautious start to the day, the market capitalization of cryptocurrencies is up 3.15 percent as of writing, with SAND extending previous advances by about 13 percent.

RUNE was a significant mover on Monday, as prices increased by more than 10 percent on the Fourth of July.

To begin the week, the token reached an intraday high of $2.08, sending prices closer to a one-week high.

RUNE/USD is trading higher for the third straight session as it approaches a significant resistance level.

This ceiling is the $2.50 level, which has not been surpassed since June 25, when bulls attempted to do so.

According to the chart, even if prices may retouch this ceiling, a breakthrough may be challenging owing to an impending obstruction.

This is the 14-day RSI resistance of 49.80, which has not been breached since early April.

Earlier in the day, the price of sand increased by as much as 12 percent, making it one of the day’s most profitable commodities.

Following a weekend low of $1.02, the SAND/USD pair soared to an intraday high of $1.15 on Monday.

This is the first time in almost a week that SAND has risen in consecutive trading sessions, and it comes as prices continue to move away from a previous support level.

This support level at $0.95 has primarily been maintained despite recent attempts by bears to drive the token’s price lower.

At the time of writing, negative pressure has shifted to bullish, and traders now appear to be seeking a ceiling of $1.50.

With the 10-day and 25-day moving averages just crossed in an upward direction, we might witness an increase in bullish momentum in the following days.

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