Biggest Movers: SOL Hits 3-Week High, as ADA Consolidates Ahead of FOMC Meeting

Solana surged to a three-week excessive forward of this afternoon’s Federal Open Market Committee assembly (FOMC). The token rose for a second consecutive day, hitting a key worth ceiling within the course of. Cardano primarily consolidated on Wednesday, as costs fell from a latest excessive.

Solana (SOL)

Solana (SOL) was a notable gainer on Wednesday, as costs surged to a three-week excessive.

Following a low of $13.61 on Tuesday, SOL/USD raced to an intraday excessive of $14.68 earlier in right this moment’s session.

As a consequence, solana moved to its strongest level since November 26, which is the final time costs had been buying and selling above a key ceiling of $14.70.

Looking on the chart, this resistance level has but to be damaged following right this moment’s good points, with SOL buying and selling at $14.67 as of writing.

The 14-day relative energy index (RSI) additionally rose, and is presently monitoring at 48.36, nonetheless it additionally failed to interrupt out of a resistance stage.

As of writing, the index stays under a ceiling of 49.00, which seems to be the primary impediment in place, stopping any additional surges.

Cardano (ADA)

On the opposite hand, cardano (ADA) moved away from a latest eight-day excessive, as worth consolidated forward of right this moment’s FOMC assembly.

ADA/USD fell to a low of $0.3069 earlier within the day, which comes lower than a day after hitting a peak at $0.3152.

This surge in worth despatched cardano to its strongest level since December 5, which is the final time worth was above a ceiling of $0.3270.

From the chart, it may be seen that right this moment’s worth consolidation started following a failed breakout of the 46.00 ceiling on the RSI indicator.

Currently, the index is monitoring at 43.79, with momentum showing to be heading for a flooring at 37.60.

Should worth energy attain this level, it’s seemingly that ADA shall be buying and selling near the $0.3000 assist stage.

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