ADA Rebounds, While FIL Hits 2-Week High on Saturday – Market Updates Bitcoin News

Even though the session was highly volatile, there are a few tokens who managed to escape from the red waves. Cardano reached its highest levels in over a fortnight to begin the weekend as prices moved closer to a resistance level. Filecoin, which gained more than 12% Saturday, was also a notable winner.

Cardano (ADA)

Cardano (ADA), which was in the green Saturday after recent price declines, rallied.

After a Friday low of $0.4499, the ADA/USD rate soared to $0.4769 intraday to begin Saturday.

This move will see cardano moving closer to $0.4800 long-term resistance as bulls remove prices from $0.4430.

ADA/USD – Daily Chart

As you can see, the 10-day moving median (red), continues to trend sideways in the chart after experiencing some downtrend.

This signalizes a possible end of the bearish spell in mid-August that saw price swing from $0.5811 down to $0.4343 within four days.

ADA currently trades at $0.4742. As per writing, the relative strength index (RSI 14 days) is at a maximum of 50.00.

Filecoin, FIL

Filecoin, or FIL (for filecoin), was also more high on Saturday. The token rose as much as 12 percent to kick off the weekend.

FIL/USD rose to $6.59, its highest level since August 20, and is now at an all-time high.

FIL sees a slight rise in its price, with FIL breaking through $6.50 resistance for the first-time in more than two weeks.

FIL/USD – Daily Chart

As seen from the chart, this rise in price has taken the RSI to a ceiling of its own at 50.65, and should bulls look to extend today’s gains, then this point will need to be broken.

This could lead to filecoin moving closer towards the $7.00 mark. There is also the possibility that $8.00 can be reclaimed.

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Is filecoin likely to reach $8.00 by the end of this week? Please share your views with us in the comments.

Eliman Dambell

Eliman has a unique perspective on market analysis, having been a broker director, educator in retail trading, and commentator on Crypto, Stocks, and FX markets.

Images, Pixabay. Wiki Commons. Dennis Diatel

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