Toncoin (TON)
Toncoin experienced significant movement in today’s session, maintaining a trading price above $2.00.
After dropping to a low of $1.94 on Monday, TON/USD rebounded and reached an intraday peak of $2.02 earlier today.
This marks the highest point Toncoin has reached since last Thursday, when it reached the same level.
However, the current bullish momentum has not been strong enough to break through this level, likely due to the relative strength index (RSI).
Currently, the RSI indicator stands at 49.24, slightly below the resistance level of 50.00.
In order for TON to surpass today’s high, it will need to break through this RSI ceiling first.
Cardano (ADA)
In contrast, Cardano (ADA) experienced a decline for the first time in four days as traders sought to secure their recent gains.
ADA/USD dropped to an intraday low of $0.2472 in today’s session after reaching a high of $0.253 the previous day.
This decline occurred as bulls were unable to break through the $0.255 ceiling at the start of the week, prompting sellers to enter the market.
The price now appears to be heading towards a support point at $0.240, which has remained relatively stable for the past four months.
The downward crossover between the 10-day (red) and 25-day (blue) moving averages has also contributed to this decline.
Hot Take: Toncoin Continues its Surge while Cardano Faces Resistance
Toncoin has maintained its upward momentum, trading above $2.00 and reaching its highest point since last Thursday. However, it has yet to break through the resistance level of 50.00 on the RSI indicator.
Cardano, on the other hand, experienced a decline after failing to surpass the $0.255 ceiling. The price is now heading towards a support point at $0.240, with the 10-day and 25-day moving averages contributing to the downward trend.
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