SAND Price Surges 52% on Korean Exchanges Lifting Warnings

The price of SAND surged by 52% on October 2 after Korean exchanges lifted trading warnings, but it has since retreated from its high. The token briefly reached $0.0736, about 63% above its daily opening price on Kraken, before falling to around $0.0683 at 13:39 UTC. This leaves buyers facing an early test of their commitment to maintaining the higher prices.

The removal of trading warnings by Coinone and Bithumb was a key factor in the surge, as it improved access to the token for holders. However, the increase in price also means that buyers now need to absorb additional supply that arrives on exchanges. The effect on price depends on both sides of this trade.

The daily RSI reading of 83.5 is above the conventional overbought threshold of 70, indicating a rapid acceleration in buying strength. However, the RSI can fall as price consolidates without ending a recovery, so weaker rebounds accompanied by breaks below support would provide a more useful warning than the elevated reading alone.