CoinCu will cover the price action of 3 prominent altcoins including Sandbox (SAND) which have surged since Jan 22nd.
RUNE has been falling since November 2nd along with a descending resistance line. The downtrend so far has resulted in a low of $3.25, down 76%. Similar to BTC, RUNE is moving along a descending resistance line. The trend cannot be considered bullish until it crosses this resistance line.
The next area of resistance is at $6.50.
Daily RUNE/USDT chart | Source: TradingView
SAND has fallen into a descending parallel channel since hitting an all-time high on Nov. 25. The downtrend resulted in a low of $2.55 on Jan. 22nd.
The bounce has also served to confirm the $3.20 area as support.
A breakout of this channel will confirm that the correction is complete.
SAND/USDT daily chart | Source: TradingView
CRV has been falling since Jan. 4 when it peaked at $6.80.
It hit a low of $2.36 (green icon) on Jan. 24 and bounced back. This move is to validate the $2.50 zone as support, which has been in place since October 2021.
If the uptrend is to continue, the next resistance lies at $4.07 created by the 0.382 Fib retracement level and the horizontal resistance area.
Daily CRV/USDT Chart | Source: TradingView
Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.