October 3, 2023

Cardano rose for the second straight session to start the weekend, as the token continued to move away from a key price bottom. Cryptocurrency markets were marginally higher in today’s session, with the global market rising by 0.56% as of writing. Solana continued to consolidate on Saturday.

Cardano (ada,

Cardano (ada) surged for the second consecutive session, as the coin moved away from recent support points.

– Advertisement –

After Friday’s low of $0.3783, ada/USD rose to an intraday high of $0.3902 to start the weekend.

As a result of this move, Cardano moved further away from the recent bottom at $0.3775 after a failed breakout attempt.

ada/USD – Daily Chart

– Advertisement –

From the charts, it appears that the bulls rejected the breakout after the 14-day Relative Strength Index (RSI) bounced off a floor at 55.00.

At the time of writing, the index is tracking at 56.96, with a potential target for traders at 60.00.

– Advertisement –

can they reach this destination, there’s a good chance ada Will be trading above $0.4000.

Solana (Sun)

After a volatile week of trading, Solana (SOL) entered the weekend slightly higher, although price uncertainty was also high.

SOL/USD topped out at $20.71 to start the weekend a day after sitting at a low of $20.33.

Saturday’s activity shows that Solana continues to hover near a long-term bottom at $20.15, and this follows a crossover of the moving averages (MAs).

SOL/USD – Daily Chart

The 10-day (red) MA moved below its 25-day (blue) counterpart at the start of the week, though it was unable to extend its distance from the trendline.

See also  Study: 55% of Americans Believe They Will Lose It All if a Recession Hits the United States

This comes as the 14-day RSI is holding close to its own support point at 46.00.

Unless there is a breakout of this bottom, or a move above resistance, it is likely that SOL will continue to trend sideways.

Register your email to receive weekly price analysis updates sent to your inbox:

Do you expect Solana to rally this weekend? Let us know your thoughts in the comments.

disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services or companies. bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services described in this article.