Solana extended current gains on Wednesday, as the token rose by as much as 15% in today’s session. The move saw costs struck their acme considering that mid-December, and comes as market sentiment has actually moved in a bullish instructions. Cardano was also in the green, as it struck a one-week high today.
Solana (SOL)
Solana (SOL) increased for a 6th straight session on Wednesday, as market momentum stays bullish.
SOL/USD rose to a high of $14.10 earlier in the day, less than a day after trading at a low of $11.83.
Today’s rally saw the token climb to its acme considering that December 15, when it last hit a resistance level of $14.50.
Looking at the chart, Wednesday’s rise comes as SOL moved beyond a ceiling of 53.00 on the relative strength index (RSI).
As of composing, the index is tracking at 59.79, which is its greatest point considering that Nov. 6.
Bulls in solana will likely continue to try a breakout of a ceiling at $14.50 in the coming days.
Cardano (ADA)
Another significant gainer on Wednesday was cardano (ADA), which climbed up to a one-week high earlier today.
Following a low of $0.2505 on Tuesday, ADA/USD raced to a peak of $0.2668 earlier in today’s session.
The relocation saw the token collide with a long-lasting resistance level of $0.2660, striking its greatest level considering that December 27 while doing so.
As can be seen from the chart, this rally pressed the RSI to its own resistance of 47.00, which has actually led to earlier gains alleviating.
Currently, the index is tracking at 46.75, with cardano trading at $0.2649 ahead of the U.S. Federal Reserve’s fulfilling minutes for December.
The moving average of 10 days (red), and its 25-day (blue) equivalent have also neared in distance, which might be driver for an upwards cross later on in the week.
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