The cryptocurrency market is gaining momentum ahead of the upcoming White House summit on Friday. Investors have regained confidence, helping Bitcoin recover to $91K.
Immutable (IMX)
IMX recently broke out of a falling wedge pattern. The breakout occurred on February 26, when IMX surpassed the wedge’s upper boundary, reaching a local high of $0.76. A pullback to the support level at $0.56 confirmed the breakout. The token is currently trading at $0.66, approaching resistance levels at $0.76 and $0.86. A move above these levels could trigger a rally to $1.18, representing a 78% potential upside from the current price.
The Sandbox (SAND)
SAND also completed a breakout from a falling wedge on March 1, reaching a local high of $0.36. After a pullback to $0.28, the token has rebounded and is now trading around $0.32. A decisive breakout above the $0.36 and $0.43 resistance levels could lead to a rise to $0.54, representing a 68% gain from current levels.
Conclusion
IMX and SAND have confirmed their breakouts, turning previous resistance levels into supports. If these tokens overcome immediate resistances and key moving averages, a bullish continuation could follow. As Bitcoin and the broader market strengthen, IMX and SAND may be poised for further gains.
As the cryptocurrency market anticipates the White House summit, the positive sentiment reflects in major cryptocurrencies and altcoins like IMX and SAND.
