Solana fell to a three-week low on Feb. 10 as momentum in the cryptocurrency markets remained firmly bearish. As of this writing, global market cap is trading 4.23% lower, with bears picking up sentiment. Cardano was also on the decline, falling as much as 8% today.
Solana (SUN)
Solana (SOL) prices tumbled during the session today, which comes as the bears have apparently recovered market sentiment.
Following a high of $22.90 on Thursday, SOL/USD moved to an intraday low of $20.20 earlier in the session.
This drop resulted in the token hitting its lowest point since January 19, when solana last hit a $20.00 floor.
Since hitting a high of 87.67 on the 14-day RSI on Jan. 13, price strength has steadily declined.
As a result of this, the index is now at 44.21, which is its weakest point since January 2, when the SOL was below $10.00.
Ultimately, this has its positives, as longer-term bulls may view it as a sign that prices are gradually moving in the right direction.
Cardano (ADA)
Cardano (ADA) extended its own recent sell-off on Friday, and prices fell for the third session in a row.
ADA/USD fell to an intraday low of $0.3558 today, which comes after prices peaked at $0.3896 on Thursday.
As a result of this drop, ADA it fell to its weakest point since January 25, breaking a bottom at $0.3590 in the process.
Since you fell from this foothold, ADA it has rallied a bit, with the bulls moving to buy the price decline.
This took place as the RSI stabilized at a floor of 46.70, with Cardano currently at $0.3611.
If this bottom on the indicator continues to hold firm, there could be a rally during the week, with bulls re-entering the market.
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Do you expect a rally in Cardano once today’s selloff has ceased? Let us know your thoughts on it in the comments.
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