ADA Climbs to 11-Week High, as Crypto Markets React to US GDP Data – Market Updates Bitcoin News


Cardano raced to an 11-week high on Thursday, as markets reacted to data showing that gross domestic product in the U.S. rose by 2.9%. The token rose by as much as 5% earlier in the day, climbing to its strongest point since November. Monero was also in the green, nearing a key resistance level in the process.

Cardano (ADA)

Cardano (ADA) rebounded on Thursday, with prices moving to an eleven-week high in the process.

Following a low of $0.3537 on Wednesday, ADA/USD rose to an intraday high of $0.3866 earlier today.

As a result of this, cardano rose to its strongest point since November 8, which is the last time prices were above $0.4100.

<a class="lar-automated-link" href="" target="_blank" rel="noopener">ADA</a>/USD Daily Chart

Looking at the chart, ADA has moved lower from earlier gains, as traders appear to have taken profits near a ceiling of $0.3875.

As of writing, the token is trading at $0.3774, with the 14-day relative strength index (RSI) near a resistance of its own at 74.00.

The index, which is currently tracking at 69.22, will likely need to move past the 74.00 point in order for ADA jump over the $0.3875 hurdle.

Monero (XMR)

In addition to ADA, monero (XMR) also surged earlier in the day, as it edged closer to a key resistance level.

XMR/USD moved to a peak of $178.15 earlier in the day, which comes less than a day after falling to a low of $169.84.

Today’s surge sent monero closer to its long-term resistance level at $180.00, which was last broken on Sunday.

<a class="lar-automated-link" href="" target="_blank" rel="noopener">XMR</a>/USD Daily Chart

As can be seen from the chart, the relative strength index (RSI) is currently hovering below a ceiling of its own at 65.00, with a current reading of 63.25.

In order for bulls to take XMR back above the $180.00 level, price strength will first need to surpass the 65.00 mark.

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

Do you expect monero to rise above $180.00 this week? Let us know your thoughts in the comments.

Eliman Dambell

Eliman brings an eclectic point of view to market analysis. He was previously a brokerage director and online trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX, whilst also a startup founder.

Crédits image: Shutterstock, Pixabay, Wiki Commons

Avertissement: Cet article est à titre informatif seulement. Il ne s'agit pas d'une offre directe ou d'une sollicitation d'offre d'achat ou de vente, ni d'une recommandation ou d'une approbation de produits, services ou entreprises. ne fournit pas de conseils d'investissement, fiscaux, juridiques ou comptables. Ni la société ni l'auteur ne sont responsables, directement ou indirectement, de tout dommage ou perte causé ou prétendument causé par ou en relation avec l'utilisation ou la confiance accordée à tout contenu, bien ou service mentionné dans cet article.

Lire la suite

Dernières histoires

Vous pourriez aussi aimer...