Solana extended recent gains on Wednesday, as the token rose by as much as 15% in today’s session. The move saw prices hit their highest point 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) rose for a sixth straight session on Wednesday, as market momentum remains bullish.
SOL/USD surged 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 point since December 15, when it last collided with a resistance level of $14.50.
Looking at the chart, Wednesday’s surge comes as SOL moved beyond a ceiling of 53.00 on the relative strength index (RSI).
As of writing, the index is tracking at 59.79, which is its strongest point since Nov. 6.
Bulls in solana will likely continue to attempt a breakout of a ceiling at $14.50 in the coming days.
Another notable gainer on Wednesday was cardano (ADA), which climbed to a one-week high earlier today.
Following a low of $0.2505 on Tuesday, ADA/USD raced to a peak of $0.2668 earlier in today’s session.
The move saw the token collide with a long-term resistance level of $0.2660, hitting its highest level since December 27 in the process.
As can be seen from the chart, this rally pushed the RSI to its own resistance of 47.00, which has resulted in earlier gains easing.
Currently, the index is tracking at 46.75, with cardano trading at $0.2649 ahead of the U.S. Federal Reserve’s meeting minutes for December.
The moving average of 10 days (red), and its 25-day (blue) counterpart have also neared in proximity, which could be catalyst for an upwards 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.
Eliman 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.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Oman to Incorporate Real Estate Tokenization in Virtual Assets Regulatory Framework
Real estate tokenization is set to be incorporated into Oman Capital Markets Authority (OCMA)'s virtual asset regulatory framework. According to an advisor with the authority, the tokenizing of real estate will open investment opportunities for local and foreign investors. Real ... read more.
Solana extended recent gains on Wednesday, as the token rose by as much as 15% in today’s session. The move saw prices hit their highest point 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) rose for a sixth straight session on Wednesday, as market momentum remains bullish.
SOL/USD surged 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 point since December 15, when it last collided with a resistance level of $14.50.
Looking at the chart, Wednesday’s surge comes as SOL moved beyond a ceiling of 53.00 on the relative strength index (RSI).
As of writing, the index is tracking at 59.79, which is its strongest point since Nov. 6.
Bulls in solana will likely continue to attempt a breakout of a ceiling at $14.50 in the coming days.
Another notable gainer on Wednesday was cardano (ADA), which climbed to a one-week high earlier today.
Following a low of $0.2505 on Tuesday, ADA/USD raced to a peak of $0.2668 earlier in today’s session.
The move saw the token collide with a long-term resistance level of $0.2660, hitting its highest level since December 27 in the process.
As can be seen from the chart, this rally pushed the RSI to its own resistance of 47.00, which has resulted in earlier gains easing.
Currently, the index is tracking at 46.75, with cardano trading at $0.2649 ahead of the U.S. Federal Reserve’s meeting minutes for December.
The moving average of 10 days (red), and its 25-day (blue) counterpart have also neared in proximity, which could be catalyst for an upwards cross later in the week.
Register your email here to get weekly price analysis updates sent to your inbox:
Do you expect cardano to break its current resistance level this week? Let us know your thoughts in the comments.
Eliman 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.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Ripple CEO: SEC Lawsuit Over XRP 'Has Gone Exceedingly Well'
The CEO of Ripple Labs says that the lawsuit brought by the U.S. Securities and Exchange Commission (SEC) against him and his company over XRP "has gone exceedingly well." He stressed: "This case is important, not just for Ripple, it’s ... read more.
On Jan. 3, 2023, the former FTX CEO Sam Bankman-Fried (SBF) pleaded not guilty to eight criminal charges that involve two counts of wire fraud and six counts of conspiracy. In addition to the not guilty plea, SBF’s judge Lewis Kaplan granted the defendant’s request to keep the names of his $250 million bond signees redacted.
Disgraced FTX co-founder Sam Bankman-Fried (SBF) said he’s not guilty of the eight charges against him when he attended his court hearing in front of judge Lewis Kaplan on Tuesday. When SBF’s entourage arrived outside the Manhatten courthouse, his SUV was swarmed by the press and reports say the crowd was so large “Bankman-Fried’s mother was unable to exit the vehicle.” SBF’s bodyguard and security team then escorted the former FTX executive into the courthouse.
Alongside pleading not guilty to the charges against him, SBF’s attorneys filed a motion in order to keep the names of the two signees who signed SBF’s $250 million bond sealed. The attorneys insisted that SBF’s parents were already dealing with risks from their son’s case and the legal team said it wants to make sure the bail bond’s guarantors don’t suffer the same fate. SBF’s bond was interesting because the former FTX executive didn’t have to pay any money at all. His parents had to secure the bond with their house in Palo Alto and four people co-signed the bond.
The deal is if SBF does not appear in court or if he breaks his bail conditions, his parent’s Palo Alto home could be on the hook, and the signees could be forced to cover the rest of the bond. Judge Lewis Kaplan approved the motion to keep the two signees names sealed even though there were filings opposing the sealing. Matthew Russell Lee from the Inner City Press said that usually “co-signers’ names and info, including income, are routinely made public in the SDNY Magistrates Court, for less privileged defendants.”
Russell Lee detailed that the Inner City Press filed an opposition to the sealing and he also mentioned that judge Kaplan set a new bail condition for the defendant. SBF is now not allowed to access any funds associated with FTX or Alameda Research while on house arrest. “[U.S. prosecutors] didn’t ask for no Internet condition, as they ask for in some other cases,” Russell Lee said. After SBF’s not guilty plea, judge Kaplan scheduled the trial to tentatively begin on Oct. 2, 2023.
What do you think about SBF pleading not guilty on Tuesday and the judge allowing the defendants to keep the bond signees’ names sealed? Let us know what you think about this subject in the comments section below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
Image Credits: Shutterstock, Pixabay, Wiki Commons, Editorial photo credit: Ed Jones | AFP | Getty Images
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Ripple CEO: SEC Lawsuit Over XRP 'Has Gone Exceedingly Well'
The CEO of Ripple Labs says that the lawsuit brought by the U.S. Securities and Exchange Commission (SEC) against him and his company over XRP "has gone exceedingly well." He stressed: "This case is important, not just for Ripple, it’s ... read more.
Source From : News