Biggest Movers: ADA Extends Gains, as SOL Consolidates on Saturday – Market Updates Bitcoin News

Biggest Movers: ADA Extends Gains, as SOL Consolidates on Saturday – Market Updates Bitcoin News


Cardano rose for a second straight session to start the weekend, as the token continued to move away from a key price floor. Cryptocurrency markets were marginally higher in today’s session, with the global market up 0.56% as of writing. Solana continued to consolidate on Saturday.

Cardano (ADA)

Cardano (ADA) rose for a second consecutive session, as the token moved away from a recent support point.

Following a low of $0.3783 on Friday, ADA/USD jumped to an intraday peak at $0.3902 to start the weekend.

As a result of the move, cardano moved further away from a recent floor at $0.3775, following a failed breakout attempt.

ADA/USD – Daily Chart

From the chart, it appears that bulls rejected the breakout after the 14-day relative strength index (RSI) bounced from a floor at 55.00.

At the time of writing, the index is tracking at 56.96, with a ceiling at 60.00 a potential target for traders.

Should they reach this destination, there is a good chance that ADA will be trading above $0.4000.

Solana (SOL)

After a volatile week of trading, solana (SOL) entered the weekend marginally higher, however price uncertainty was also high.

SOL/USD reached a top at $20.71 to start the weekend, a day after sitting at a low of $20.33.

Saturday’s activity sees solana continue to hover close to a long-term floor at $20.15, and this comes following a crossover of moving averages (MA).

SOL/USD – Daily Chart

The 10-day (red) MA moved below its 25-day (blue) counterpart earlier in the week, however was unable to extend its distance from this trendline.

This comes as the 14-day RSI remains close to a point of support of its own, at the 46.00 mark.

Until a breakout of this floor occurs, or there is a move above resistance, it is likely that SOL will continue to trend sideways.

Register your email here to get weekly price analysis updates sent to your inbox:

Do you expect solana to rally this weekend? Let us know your thoughts in the comments.

Eliman Dambell

Eliman was previously a director of a London-based brokerage, whilst also an online trading educator. Currently, he commentates on various asset classes, including Crypto, Stocks and FX, whilst also a startup founder.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

More Popular News

In Case You Missed It


Source link

Leave a Reply

Your email address will not be published. Required fields are marked *