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SOL up 15% as bullish sentiment continues to rise – market updates
Solana extended recent gains on Wednesday as the token rose as much as 15% in today's session. The move saw prices hit their highest level since mid-December and comes as market sentiment has shifted in a bullish direction. Cardano was also in the green as it hit a one-week high today. Solana (SOL) Solana (SOL) rose for the sixth straight session on Wednesday as market momentum remains bullish. SOL/USD rose to a high of $14.10 earlier in the day, less than a day after trading at a low of 11.83...
SOL up 15% as bullish sentiment continues to rise – market updates
Solana extended recent gains on Wednesday as the token rose as much as 15% in today's session. The move saw prices hit their highest level since mid-December and comes as market sentiment has shifted in a bullish direction. Cardano was also in the green as it hit a one-week high today.
Solana (SOL)
Solana (SOL) rose for the sixth straight session on Wednesday as market momentum remains bullish.
SOL/USD rose to a high of $14.10 earlier in the day, less than a day after trading at a low of $11.83.
Today's rally saw the token climb to its highest level since December 15, when it last collided with resistance at $14.50.
Looking at the chart, the increase comes on Wednesday when SOL crossed a ceiling of 53.00 on the Relative Strength Index (RSI).
As of this writing, the index is at 59.79, the strongest point since November 6th.
Bulls in Solana are likely to continue trying to break a ceiling of $14.50 in the coming days.
Cardano ( ADA )
Another notable winner on Wednesday was Cardano ( ADA ), which climbed to a weekly high earlier today.
After hitting lows of $0.2505 on Tuesday ADA /USD raced to a high of $0.2668 earlier in today's session.
The move saw the token colliding with long-term resistance at $0.2660, reaching its highest level since December 27.
As can be seen from the chart, this rally pushed the RSI to its own resistance at 47.00, causing previous gains to fade.
Currently, the index is at 46.75, with Cardano trading at $0.2649 ahead of the Federal Reserve's December meeting minutes.
The 10-day moving average (red) and its 25-day counterpart (blue) have also converged, which could be a catalyst for an upside cross later in the week.
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Do you expect Cardano to break its current resistance level this week? Let us know your thoughts in the comments.
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