The crypto markets opened the week largely in the green, with several assets up double digits on Monday. One of them was; ADAwas up 13% today; THETA was also higher, up about 15%.
Cardano (ADA)
ADAwas one of the most notable moves on Monday, as prices surged toward long-term resistance levels.
Monday sawADA/USD rise to an intraday record of $0.6435, the highest since May 31.
The move, which began at support at $0.5560, quickly rose to resistance at $0.6430 by the end of the week.
This surge occurred as price strength quickly increased and the 14-day RSI is now trading above its own ceiling at 54.
As of this writing, the index is at 55.33, which is its highest reading since April 6, a positive sign that the momentum in is finally changing.
Overall,the ADAremains down nearly 85% from its all-time high last September.
Theta Network (THETA)
THETA also hit a new weekly high, up 15% in Monday’s session.
With Monday’s rally, prices reached an intraday peak of $1.38, which was less than 24 hours from when prices were at a low of $1.20.
The move allowed THETA to continue rising from support near $1.15 and instead approached resistance at $1.40.
As the chart shows, this ceiling has not been broken for almost a month, but after today’s rise, bulls look to test this point.
Price strength is at the 44.40 resistance point, which is the highest it has traded in over two months.
An eventual break above this point could see a bullish move to push prices toward the $1.50 level.
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