Bitcoin News and Finance Biggest Movers: SOL Hits Fresh 4-Week High on Friday ADA Snaps Losing Streak Skip to main content

Biggest Movers: SOL Hits Fresh 4-Week High on Friday ADA Snaps Losing Streak

SOL Hits Fresh 4-Week High on Friday, Whilst ADA Snaps Losing Streak

Solana was one of Friday’s biggest gainers, as the cryptocurrency rose by over 11% during today’s session. The move came as markets reacted to June’s nonfarm payrolls report, which came in at 209,000, below expectations of 229,000. On the other hand, cardano ended a three-day losing streak.

Solana (SOL)

Solana (SOL) rallied for a second straight session on Friday, as the token rose above a ceiling at $20.00

SOL/USD hit an intraday peak at $21.22 earlier in today’s session, which came in response to the latest U.S. nonfarm payrolls report.

As a result of the surge, solana hit its strongest point since June 5, when the price peaked at $22.06

Looking at the chart, the move came as the relative strength index (RSI) broke out of a resistance level of 65.00.

At the time of writing, price strength is now tracking at 68.30, which is its highest level since April 14.

The next visible point of resistance appears to be at the 70.00 level, and in the event it reaches this point, it is likely that SOL will hit $22.50.

Cardano (ADA)

Cardano (ADA) rebounded in today’s session, as the cryptocurrency snapped a three-day losing streak.

After falling to a low of $0.278 on Thursday, ADA/USD jumped to a high of $0.2874 earlier in the day.

The move saw cardano rebound from a one-week low, as bulls reentered the market close to a floor at $0.2875.

One of the catalysts of this rally was the 14-day RSI, which bounced on its own support point at the 43.00 zone.

As of writing, the index is now tracking at 45.25, a point that is marginally below a ceiling at 46.00.

Earlier gains have somewhat eased as a result of this, with ADA now trading at $0.2842.

Register your email here to get weekly price analysis updates sent to your inbox:

Do you expect cardano to extend today’s gains into the weekend? Let us know your thoughts in the comments.

Comments

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl...

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju...

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and...

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r...
Blogarama - Blog Directory