Giovanni Russo Cardano’s price increased the past two days, meaning that it is further away from a “key price floor”. Right now, all cryptocurrency markets are slightly higher overall compared to earlier today. Solana continues to stay around the same value Saturday.
ADA Gaining Momentum as 14-day RSI Stays Above 55
The value of Cardano (ADA) increased for two days in a row. On Friday the ADA/USD price really dropped to $0.3783 but then on Saturday it quickly rose again and reached the highest point that day of $0.3902. This meant it was moving away from being at its lowest on Friday – which was $0.3775 – as people weren’t able to keep up the momentum of slightly increasing its value as what was expected. If you take a look at the chart, it seems like buyers weren’t able to maintain their goal when the 14-day relative strength index (RSI) stayed around 55.00 after climbing from an earlier slope downwards.
Right now, the number that shows how trading is doing is 56.96 which could go higher to a maximum of 60.00. If this happens, it is likely that ADA will be sold for over $0.4000.
“Wild Week-end Ahead
The price of Solana (SOL) had a really wild week. It started at $20.33 and rose up to $20.71 at the beginning of the weekend but the uncertainty of its price is still very high. As of Saturday’s activity, it stuck around at a long-term low near $20.15 and this came after it crossed two moving averages on a chart.
At the start of this week, a line that followed the stock prices over 10 days (red line) moved lower than a line watching the stock prices for 25 days (blue line). But it couldn’t get very far away from the trend.
The 14-day chart points to 46.00 as an important level – if we don’t break it or go above another point, then SOL’s price will probably stay in place and keep going up and down without really changing.
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Do you think Solana will get stronger this weekend? Let us know what you think in the comments!
