Cardano rose nearly 15% on Monday as the crypto market was largely in green. Despite gains by ADA HNT was the largest mover today. It rose by more than 20% and reached its highest point for over a month.
Cardano (ADA)
The ADA gained on Monday as it increased by almost 15% after three consecutive sessions of gains.
Today’s rally was the most notable from the past two days, and resulted in prices surging to their highest level since May 23.
The recent rally began after a false breakout at support of $0.4600. Prices rallied to an intraday peak of $0.5449 today.
Looking at the chart, today’s peak has taken ADA/USD near its resistance point of $0.5580, which hasn’t been broken since May 18.
The 14-day RSI also is hovering above its ceiling of 44.60. It is highly unlikely that there will be further rallies unless this hurdle is cleared.
Helium (HNT)
ADA was one the top movers Monday due to its status as a Top 10 Trader, but HNT was arguably HNT’s biggest mover in crypto markets.
HNT rose almost 24% to begin the week. The intraday peak reached $8.90.
The HNT’s most recent form was also born at $6.70 and broke an interim resistance level of $8.50.
Bulls are now trying to recover a high $9.90. This is still the biggest obstacle for HNT before it reaches the $10 mark.
The chart shows that the RSI could also be a danger to bulls’ hopes, since HNT is close to hitting a ceiling of 44.50.
This would mean that prices will rise by $9.90 over the following days.
Will today’s bullish sentiment continue into June? We’d love to hear your comments.
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