ADA rebounds on Saturday, as FIL hits 2-week high.
Following a low of $0.4499 on Friday,The move sees cardano move closer to its long-term resistance level of $0.4800, as bulls take prices away from a floor of $0.4430.Looking at the chart, the rally comes as the 10-day moving average continues to trend sideways, after a spell of downward movement.
This signals a possible end to the bearish spell we saw in mid-August, where price went from $0.5811 to $0.4343 in a space of four days.is now trading at $0.4742, with the 14-day relative strength index tracking at a ceiling of 50.00.Filecoin was also higher on Saturday, as the token rose by as much as 12% to start the weekend.
FIL/USD surged to a high of $6.59 on Saturday, which is the strongest point it has hit since August 20. This surge in price sees FIL marginally break out of its resistance level of $6.50 for the first time in over two weeks.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.
If this does occur, we could see filecoin move closer to the $7.00 mark, with the possibility of recapturing $8.00 also on the cards.Tags in this story
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