Connect with us

Coin Market

Biggest Movers: AAVE, ADA Remain Near 1-Week Highs on Friday

Published

on

Cardano rose to a one-week high earlier in today’s session, despite cryptocurrency markets mostly trading in the red. Aave was also higher on Friday, with the token remaining close to its highest point in the past week. As of writing, the global crypto market cap is 0.43% lower.

Cardano (ADA)

Cardano (ADA) was one of Friday’s notable gainers, as the token rallied to a one-week high to end the working week.

Following a bottom of $0.4596 during Thursday’s session, ADA/USD raced to a peak of $0.4816 earlier in the day.

As a result of today’s move, the token collided with its key resistance level at the $0.4790 point.

However, following this collision, earlier bulls appeared to retreat, liquidating their positions at this point of uncertainty.

As of writing, ADA is now trading at $0.4765, which is below the previously mentioned price ceiling.

The drop in momentum began as the relative strength index (RSI), encountered a resistance level of its own at 44.

Until this hurdle is overcome, ADA will likely continue to trade at or below its current level.

Aave (AAVE)

Like ADA, aave (AAVE) was briefly higher in today’s session, as it too remained close to a one-week high.

AAVE/USD rose to a high of $95.47 on Friday, which is near its highest level since August 19.

The move saw aave hit and marginally break out of its resistance level at $95.40, however as the session progressed, prices declined.

As of writing, the token is now trading at $90.65, almost $5 lower than earlier highs. This comes as bears reentered the market.

Prices of AAVE began to drop following the RSI hitting its ceiling at 48.70, falling to a current level of 45.75.

The 10-day (red) moving average also continues to trend downward, which could be a signal of further upcoming declines.

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

Will aave move below $90 by the end of Friday’s session? Let us know your thoughts in the comments.

The post Biggest Movers: AAVE, ADA Remain Near 1-Week Highs on Friday first appeared on RealTimeBit.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Coin Market

BTC price risks $20K crash: 5 Things to know in Bitcoin this week

Published

on

By

Bitcoin traders rapidly adjust their short-term BTC price outlook as support fails and BTC/USD heads further below $100,000.

Continue Reading

Coin Market

Botswana central bank flags 'minimal’ crypto risks but urges regulation

Published

on

By

Botswana’s central bank acknowledges minimal crypto risks but highlights money laundering and regulatory concerns as key priorities.

Continue Reading

Coin Market

Your VASP license won’t save you anymore

Published

on

By

Relying solely on VASP licenses and superficial compliance policies isn’t enough.

Continue Reading

Trending