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HomeCrypto NewsSAND, FLOW, AUDIO – NFT Tokens Begin Upward Movements

SAND, FLOW, AUDIO – NFT Tokens Begin Upward Movements


The Sandbox (SAND) & FLOW (FLOW) have damaged out from a long-term descending resistance line.

Audius (AUDIO) has reclaimed the $0.87 horizontal help space. 

All three of those Non-Fungible tokens (NFT) have proven potential to renew their upward actions in the direction of their closest resistances.

SAND

SAND has been reducing alongside a descending resistance line since March 27. On July 3, it managed to interrupt out above this line and proceeded to achieve a excessive of $0.692 on July 17. The excessive was made simply above the 0.618 Fib retracement resistance degree. 

Nonetheless, SAND couldn’t maintain the upward motion and decreased, after creating an extended higher wick. 

Regardless of the drop, technical indicators are nonetheless bullish. The RSI is above 0 and the MACD is above 0. Whereas the Stochastic oscillator is shifting upwards, it has not made a bearish cross but.

SAND breakout
Chart By TradingView

The shorter-term 4-hour chart reveals that the token has already accomplished a 5 wave bullish construction (orange), which had an prolonged fifth wave (black).

 Afterwards, it retraced all the way in which to the $0.35-$0.38 help space earlier than bouncing. The help is created by the 0.618 Fib retracement help degree and a horizontal help space.

To ensure that the upward motion to proceed, SAND has to carry above the $0.35-$0.38 help space. If profitable, it’s more likely to escape from the 0.618 Fib retracement resistance degree at $0.61 and doubtlessly transfer in the direction of $0.90.

SAND impulse
Chart By TradingView

Highlights

  • SAND broke out from a descending resistance line.
  • Quick-term indicators are bullish.

FLOW

FLOW has been rising since reaching a low of $6.01 on June 22. On July 7, it broke out from  a descending resistance line that had been in place since April.

The token continued to extend till it was rejected by the 0.382 Fib retracement resistance degree at $20. 

Regardless of the drop, technical indicators are nonetheless comparatively bullish, for the reason that MACD is constructive and the RSI is above 50. 

The following resistance is the 0.618 Fib retracement resistance degree at $20.80.

FLOW Breakout
Chart By TradingView

The shorter-term six-hour chart reveals a accomplished bullish impulse and ensuing A-B-C corrective construction (black). 

The drop ended as quickly as SAND reached the 0.618 Fib retracement help degree at $11.51. The token has been shifting upwards since. 

The MACD & RSI are each rising, supporting the continuation of the upward motion. 

Subsequently, it’s doable that FLOW will make one other try at breaking out above $20 and presumably enhance in the direction of $28.80.

FLOW impulse
Chart By TradingView

Highlights

  • FLOW has damaged out from a descending resistance line. 
  • It’s dealing with resistance at $20 and $28.80

AUDIO

AUDIO has been reducing since March 27, when it reached an all-time excessive worth of $4.99. The downward motion continued till a low of $0.59 was reached on June 22. This purportedly brought on a breakdown from the $0.87 horizontal help space (purple icon). 

Nonetheless, the token reclaimed the extent shortly afterwards and has now validated it as help (inexperienced icon). If the upward motion continues, the closest resistance space could be at $2.05. 

Nonetheless, technical indicators are comparatively impartial. The RSI is on the 50 line and the MACD is slightly below the 0 line. As well as, the Stochastic oscillator is shifting downwards, even when it has not but made a bearish cross.

AUDIO Range
Chart By TradingView

The shorter-term two-hour chart reveals that AUDIO has damaged down from an ascending help line and is presently validating it as resistance. 

To ensure that the short-term development to be thought-about bullish, the token has to reclaim this line.

AUDIO Ascending support
Chart By TradingView

Highlights

  • AUDIO has reclaimed the $0.87 help space.
  • It has damaged down from an ascending help line.

For BeInCrypto’s newest bitcoin (BTC) evaluation, click here.

Disclaimer

All the knowledge contained on our web site is printed in good religion and for normal info functions solely. Any motion the reader takes upon the knowledge discovered on our web site is strictly at their very own threat.



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