Solana surged 22% on Monday. Because bullish sentiment has returned to the cryptocurrency market. The move sent the token up to its highest level since November, when he was caught up in the FTX collapse. Cardano also started the week higher, up nearly 13%.
Solana (SOL)
Solana (SOL) is one of Monday’s big moves as the price of the token rose by a whopping 22%.
SOL/USD surged to an intraday high of $16.62 earlier in the week less than 24 hours after trading at a low of $13.47.
Today’s price gains have pushed SOL to his highest since November 12th. Days after the token plummeted, after being exposed to the FTX/Alameda scandal.
chart, Monday’s rally follows a breakout of the key resistance level at $15.00. was broken.
The result lifted the 14-day Relative Strength Index (RSI) to 73.26, his strongest point since April.
A reversal of momentum is likely in the coming days as prices are relatively overbought at the moment.
Cardano (ADA)
Cardano (ADA) were also notable gainers, with the token rising for the second day in a row .
Following Sunday’s low of $0.2865,ADA/USD hit a high of $0.3409 in today’s session.
Similar to Solana, the move came after Cardano hit his highest since November and broke the $0.3250 ceiling.
chart we see today’s rise results in the 14 day RSI 2021 It rose to levels not seen since September.
This has eased the previous rally somewhat and ADA/USD is trading at his $0.3247 at the time of writing.
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