{"id":15468,"date":"2022-12-14T18:53:13","date_gmt":"2022-12-14T18:53:13","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/sol-hits-3-week-high-as-ada-consolidates-ahead-of-fomc-meeting-bitcoin-news\/"},"modified":"2022-12-14T18:53:13","modified_gmt":"2022-12-14T18:53:13","slug":"sol-hits-3-week-high-as-ada-consolidates-ahead-of-fomc-meeting-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/sol-hits-3-week-high-as-ada-consolidates-ahead-of-fomc-meeting-bitcoin-news\/","title":{"rendered":"SOL Hits 3-Week High, as ADA Consolidates Ahead of FOMC Meeting \u2013 Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Solana surged to a three-week high ahead of this afternoon\u2019s Federal Open Market Committee meeting (FOMC). The token rose for a second consecutive day, hitting a key price ceiling in the process. Cardano mainly consolidated on Wednesday, as prices fell from a recent high.<\/strong><\/p>\n

Solana (SOL)<\/h2>\n

Solana (SOL) was a notable gainer on Wednesday, as prices surged to a three-week high.<\/p>\n

Following a low of $13.61 on Tuesday, SOL\/USD raced to an intraday high of $14.68 earlier in today\u2019s session.<\/p>\n

As a result, solana moved to its strongest point since November 26, which is the last time prices were trading above a key ceiling of $14.70.<\/p>\n

\"Biggest
SOL\/USD \u2013 Daily Chart<\/figcaption><\/figure>\n

Looking at the chart, this resistance point has yet to be broken following today\u2019s gains, with SOL trading at $14.67 as of writing.<\/p>\n

The 14-day relative strength index (RSI) also rose, and is currently tracking at 48.36, however it also failed to break out of a resistance level.<\/p>\n

As of writing, the index remains below a ceiling of 49.00, which appears to be the main obstacle in place, preventing any further surges.<\/p>\n

Cardano (ADA<\/a>)<\/h2>\n

On the other hand, cardano (ADA<\/a>) moved away from a recent eight-day high, as price consolidated ahead of today\u2019s FOMC meeting.<\/p>\n

ADA<\/a>\/USD fell to a low of $0.3069 earlier in the day, which comes less than a day after hitting a peak at $0.3152.<\/p>\n

This surge in price sent cardano to its strongest point since December 5, which is the last time price was above a ceiling of $0.3270.<\/p>\n

\"Biggest
ADA<\/a>\/USD \u2013 Daily Chart<\/figcaption><\/figure>\n

From the chart, it can be seen that today\u2019s price consolidation began following a failed breakout of the 46.00 ceiling on the RSI indicator.<\/p>\n

Currently, the index is tracking at 43.79, with momentum appearing to be heading for a floor at 37.60.<\/p>\n

Should price strength reach this point, it is likely that ADA<\/a> will be trading close to the $0.3000 support level.<\/p>\n

Register your email here to get weekly price analysis updates sent to your inbox:<\/em><\/p>\n

Do you expect cardano to rally following today\u2019s interest rate decision? Let us know your thoughts in the comments.<\/strong><\/em><\/p>\n

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\nEliman Dambell <\/h6>\n

\nEliman brings an eclectic point of view to market analysis, he was previously a brokerage director and retail trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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