AAVE, ADA Remain Near 1-Week Highs on Friday – Market Updates Bitcoin News
Cardano rose to a one-week high earlier in today’s session, despite cryptocurrency markets trading largely in the red. Aave was also higher on Friday, with the token holding close to its highest point in the past week. At the time of writing, the global crypto market cap is 0.43% lower.
Cardano (ADA)
Cardano (ADA) was one of Friday’s notable winners, as the token rose to a one-week high to end the work week.
After a low of $0.4596 during Thursday’s session, ADA/USD rallied to a high of $0.4816 earlier in the day.
As a result of today’s move, the token collided with the key resistance level at the $0.4790 point.
After this collision, however, former bulls appeared to retreat, liquidating their positions on this point of uncertainty.
At the time of writing, ADA is trading at $0.4765, which is below the previously mentioned price ceiling.
The fall in momentum began when the relative strength index (RSI) met a separate resistance level of 44.
Until this hurdle is overcome, ADA is likely to continue trading at or below current levels.
Aave (AAVE)
Like ADA, aave (AAVE) was briefly higher in today’s session, as it also held near one-week highs.
AAVE/USD rose to a high of $95.47 on Friday, which is near its highest level since August 19.
The move saw aave hit and marginally break out of the $95.40 resistance level, but as the session wore on, prices fell.
At the time of writing, the token is trading at $90.65, almost $5 lower than previous highs. This comes as bears re-entered the market.
The prices of AAVE started to fall after the RSI hit the ceiling of 48.70, falling to a current level of 45.75.
The 10-day (red) moving average also continues to trend down, which could signal further declines to come.
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Will aave move below $90 by the end of Friday’s session? Let us know your thoughts in the comments.
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