Cardano rallied for the second session in a row to kick off the weekend, as the token continued to pull away from a key price low. Cryptocurrency markets were marginally higher in today’s session, with the global market up 0.56% at the time of writing. Solana continued to consolidate on Saturday.
Cardano (ADA)
Cardano (ADA) rose for the second session in a row, as the token moved away from a recent support point.
After a low of $0.3783 on Friday, ADA/USD jumped to an intraday high of $0.3902 to start the weekend.
As a result of the move, Cardano moved further away from a recent bottom at $0.3775, following a failed breakout attempt.
On the chart, it looks like the bulls rejected the breakout after the 14-day RSI bounced off a bottom at 55.00.
At the time of writing, the index is at 56.96, with a ceiling at 60.00, a potential target for traders.
If they reach this destination, there is a good chance that ADA it will trade above $0.4000.
Solana (SUN)
After a volatile week of trading, the solana (SOL) started the weekend slightly higher, however price uncertainty was also high.
SOL/USD hit a high of $20.71 to start the weekend, one day after hitting a low of $20.33.
Saturday’s activity sees solana continue to hover near a long-term bottom at $20.15, and this comes after a moving average (MA) crossover.
The 10-day MA (red) moved below its 25-day counterpart (blue) earlier in the week, however it was unable to extend its distance from this trend line.
This occurs when the 14-day RSI remains close to a support point of its own, at the 46.00 mark.
Until a breakout of this bottom occurs, or there is a move above resistance, the SOL is likely to continue to trend sideways.
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