Solana rallied as much as 20% on Saturday as the crypto markets came alive to kick off the weekend. The token hit a 12-week high in today’s session, breaching a key price high in the process. Cardano also hit its strongest point since November, with the global cryptocurrency market capitalization rising 6.86% as of this writing.
Solana (SUN)
Solana (SOL), was one of the notable gainers on Saturday, as the token rallied as much as 20% in today’s session.
SOL/USD hit a high of $26.41 to start the weekend, which follows Friday’s low of $21.27.
As a result of this move, solana broke a key resistance level of $25.00, reaching its strongest point since November 8 in the process.
Looking at the chart, the 14-day RSI also broke through its own high at the 73.00 mark.
At time of writing, the index stands at 73.84, with the next visible resistance at the 81.00 zone.
If the bulls were to hit this wall, then solana is likely to move above the $30.00 point.
Cardano (ADA)
Another big mover of the weekend was cardano (ADA), which also moved to its strongest point since November.
After a low of $0.3364 on Saturday, ADA/USD ran to an intraday high of $0.3726 earlier today.
This surge saw cardano jump to its strongest point in the past 12 weeks, breaking through resistance at $0.3650 in the process.
As can be seen on the chart, the move brought price strength to a ceiling of 73.00, however, it has so far failed to clear this hurdle.
Because of this, previous gains have been down a bit as traders moved to lock in profits, leading to ADA it is currently trading at $0.366.
If this hurdle is finally overcome, the next goal for ADA the bulls will probably be $0.40.
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What’s behind this weekend’s rally in cryptocurrency prices? Let us know your thoughts in the comments.
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