Sandbox, Fantom, and Ethereum Classic flashed massive revival from closest supports as the crypto market gained around 4% within the past day. For now, a close beyond resistance level would open doors for further recovery. Meanwhile, the latest bullish move exhibited low volumes, showing a feeble act by bulls.
The past seven weeks had SAND oscillating within the $2.8 – $4.8 range. The previous upswing registered remarkable gains until poking the resistance at $4.8. After that, it hit its 3-week trend-line support before breaching it on February 13. The alt flipped $3.19 from support to nearest resistance.
The downtrend halted near $2.8 as bulls joined to test the closest resistance line. Nevertheless, Sandbox experienced upside rejection near the 20EMA, which matched the $3.19-zone. Moreover, the latest candles displayed bearish pin bars, suggesting a bearish edge.
While publishing this content, Sandbox traded around $3.157. RSI’s latest revival conquered the trend-line resistance, targeting a higher level at 45. Nevertheless, the DMI lines gap decreasing highlights a short-term bullish resurgence.
Ethereum Classic (ETC)
Ethereum Classic recorded an impressive 76.2% ROI since 9-month lows on January 22, poking past the resistance of $36. After that, ETC witnessed a 34.7% correction to test the support at $24. However, the altcoin gained more than 9% within the past day, targeting value levels of $27. Any close beneath this mark would highlight a concealed bearish divergence.
While publishing this content, Ethereum Classic traded around $27.01. The past 24hrs saw the RSI reversing from the oversold territory to snap the 42-mark. Any close past the trend-line resistance would cancel the bearish tendencies. Surprisingly, MACD’s histogram climbed past the equilibrium and displayed decreased selling influence. However, its lines remained beneath the zero-line, showing buyers were yet to dominate.
Bears dominated since Fantom reversed from $3.32. With that, the alt lost more than 56%, hitting its 2-month low on February 22. The downside phase had FTM range-bound inside $2.49 – $1.9. Fantom recorded lower highs while keeping $1.9 until breaching the level to touch February lows. The alt targets the 20SMA around $1.6 (nearest resistance).
While publishing this post, Fantom traded at $1.6086. The Relative Strength Index witnessed a quick recovery after hitting the oversold zone. A close past the 42-barrier might see a climb to the half-line. Nevertheless, the latest gains could not incorporate increasing volume, highlighting weak bullishness.