This week’s trading sessions have not yet been completed. However, from Monday to Wednesday, there have been valuing gains by leading as well as other cryptocurrencies.
Amongst them, Solana (SOL and Cardano (ADA) have been two of the exceptional gainers in the week so far.
SOL Hitting 3-week High Price
The value of Solana (SOL) surged positively on 14th December which helped the coin’s value to go past a 3-week high value.
A day before Wednesday, SOL was trading at a value of $13.61 but subsequently, the value surge became apparent on 14th December. Consequently, since the beginning of Wednesday, SOL has been trading at $14.68.
This indicates that the surge allowed SOL to obtain an aggregate gain of more than $1.
Since 26th November, SOL hasn’t been able to get on this point which unilaterally set $14.70 to be the coin’s crucial resistance level.
The coin’s present value is still short of at least 2 cents in accomplishing the crucial resistance point.
Evidently, the value surge has also bolstered SOL’s 14-day relative strength index (RSI).
At the time of this writing, index tracking indicates the coin’s tracking at 43.36 i.e. still falling short of the crucial resistance point of 49.
For SOL, tracking above the mark of 49.00 is of paramount importance because that would boost the cryptocurrency in eliminating the hurdles.
Gains for Cardano
The speculation emanating from FOMC’s meeting scheduled for today also turned in favor of Cardano (ADA). Because of the speculation, ADA is currently trading at a price that is higher than its value for the past 8-days.
As did Solana, ADA’s value also fell as low as $0.3069 on the 13th but the 14th December’s push put the price at $0.3152.
Currently, the coin has been trading in the market and looks stronger than it was in the past on 5th December. At that time, the value was way above the crucial ceiling value of $0.3270.
ADA’s RSI is moving upward with the Index presently tracking at 43.79. However, the fear is that the index may happen to edge down to a floor ceiling of 37.60.
If this phenomenon comes true, then it is likely that ADA will soon start trading at a price range near or below $0.3000. In case it falls below the particular level, then ADA’s price would fall even deeper.
Honorable Mentions – Bitcoin and Ethereum Value Gains
Presently, Bitcoin also is trading at a price that is near its crucial resistance level i.e. $18,000.
In an effort to surpass this crucial resistance, after making substantial gains, Bitcoin has taken a value as high as $17,930.
In the process, Bitcoin also rejected 13th December’s low of $17,412.19 and streamlined its RSI accordingly.
Bitcoin’s RSI is tracking at 60.00 and would be interested in going above the next crucial mark of 60.75. If it happens to cross that mark, then its value could move on above $18,000.
Bitcoin is hoping to move higher as well because there is so much at stake when it comes to Bitcoin. As the largest crypto starts moving in the bullish direction, it could help push another crypto higher.
On the other hand, Ethereum’s movement is also very much similar to Bitcoin. Ethereum also fetched substantial gains which allowed it to near its crucial resistance point.
Currently, the coin is trading at $1,341.44 which shows that it is way ahead of its bottom value of $1,289.23.
It did however move into the bottom on 13th December yet rebounded right from the beginning of trading sessions on 14th December.
Ethereum’s current RSI tracking is 58.06 but it would be craving for accomplishing the 59.00 mark. If the RSI does climb to the desired level, it could trigger another strong rally.
This could mean that the price of ETH may succeed in moving to a higher level and cross the current trading barrier.
Fxp360 Review – Is Fxp 360 Scam or a Trusted Broker? (Fxp360.com)
Coinbase Files A Petition To The SEC, Argues That Staking Should Not Be Classified As Securities
Celsius’ Adviser And Lawyer Fees Set To Hit $144M, Community Reacts