{"id":16267,"date":"2023-01-09T16:54:23","date_gmt":"2023-01-09T16:54:23","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/sol-up-22-as-ada-hits-highest-point-since-november-market-updates-bitcoin-news\/"},"modified":"2023-01-09T16:54:23","modified_gmt":"2023-01-09T16:54:23","slug":"sol-up-22-as-ada-hits-highest-point-since-november-market-updates-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/sol-up-22-as-ada-hits-highest-point-since-november-market-updates-bitcoin-news\/","title":{"rendered":"SOL up 22% as ADA Hits Highest Point Since November \u2013 Market Updates Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Solana surged by as much as 22% on Monday, as bullish sentiment returned to cryptocurrency markets. The move saw the token climb to its highest point since November, when it was embroiled in the FTX collapse. Cardano also moved higher to start the week, climbing by nearly 13%.<\/strong><\/p>\n

Solana (SOL)<\/h2>\n

Solana (SOL) was one of Monday\u2019s big movers, as prices of the token rose by as much as 22%.<\/p>\n

SOL\/USD surged to an intraday high of $16.62 to start the week, which comes less than 24 hours after trading at a low of $13.47.<\/p>\n

Today\u2019s rise in price pushed SOL to its strongest point since November 12, days after the token plummeted, after being exposed to the FTX\/Alameda scandal.<\/p>\n

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

From the chart, Monday\u2019s rally came following a breakout of a key resistance level at the $15.00 mark.<\/p>\n

As a result of this, the 14-day relative strength index (RSI) has risen to 73.26, which is its strongest point since April.<\/p>\n

Due to prices now being relatively overbought, there is a strong possibility that there could be a reversal in momentum in the coming days.<\/p>\n

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

Cardano (ADA<\/a>) was another notable gainer to start the week, with the token climbing for a second straight day.<\/p>\n

Following a low of $0.2865 on Sunday, ADA<\/a>\/USD hit a high of $0.3409 earlier in today\u2019s session.<\/p>\n

Like with solana, this move saw cardano hit its highest mark since November, and came after a breakout of a ceiling at $0.3250.<\/p>\n

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

Looking at the chart, as a result of today\u2019s rally, the 14-day RSI rose to a level not seen since September 2021.<\/p>\n

Due to this, earlier gains have somewhat eased, and as of writing, ADA<\/a>\/USD is trading at $0.3247.<\/p>\n

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

Could cardano rally back beyond this resistance level in the coming days? 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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