Cardano rose to a one-week high earlier in today’s session, despite cryptocurrency markets mostly trading in the red. Aave also rose on Friday with the token close to the highest point of the week. At the time of writing, global crypto market caps are 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, the collision caused earlier bulls to appear to retreat and liquidate their positions.
As of this writing, ADA trades at $0.4765. This is lower than the price limit.
Momentum dropped as relative strength index (RSI), which was at 44 when it encountered resistance, began to show signs of weakness.
ADA is likely to continue trading at its current level until this obstacle can be overcome.
Aave
Like ADA, aave (AAVE) was briefly higher in today’s session, as it too remained close to a one-week high.
The AAVE/USD reached a record $95.47 Friday. This is close to its highest point since August 19.
Although the move was able to hit its resistance at $95.40 and break it slightly, prices continued to decline as the session went on.
The token currently trades at $90.65, which is $5 less than its earlier highs. Bears have reentered this market.
AAVE prices began to decline after the RSI hit its peak at 48.70 and fell to a current level 45.75.
Additionally, the 10-day (red-colored) moving average continues to trend lower. This may indicate that further falls are coming.
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Will aave move below $90 by the end of Friday’s session? Please share your views with us in the comments.
Credits for the imageShutterstock. Pixabay. Wiki Commons
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