Solana (SOL)
Solana (SOL) had a rough few days, but it’s finally bouncing back. After hitting a low of $25.12 on Tuesday, SOL/USD surged to an intraday high of $26.57 today. This is the first upward trend for Solana since reaching a high point eight months ago.
- The rebound was driven by the relative strength index (RSI) bouncing off a floor at 66.00.
- The RSI is currently at 69.40, and bulls are eyeing a resistance point of 71.00.
- If the resistance is broken, Solana could head towards $30.00.
XRP
XRP, formerly known as Ripple, is seeing a bullish sentiment among traders as they try to push prices above $0.8200. The XRP/USD pair reached a peak of $0.8155 before settling at $0.7999.
- Volatility in XRP has been high since reaching $0.9479 last week.
- The RSI broke out of a ceiling at 73.00 and is now at 75.07, reducing market uncertainty.
- However, the price is already overbought, which could lead to a sell-off.
- Currently, XRP remains steady at the $0.8000 mark.
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Hot Take
Solana’s rebound and XRP’s bullish sentiment indicate positive momentum in the crypto market. However, caution should be exercised as XRP is already overbought, which may lead to a sell-off. Keep an eye on Solana breaking the resistance point of 71.00 and XRP’s stability around the $0.8000 mark.
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