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Solana ended a three-day losing streak on Wednesday, as the token moved back above the $26.00 mark. The decline came following Friday’s move above $32.00, which took the price to an eight-month high. XRP has also rebounded today, and looks to be heading for its recent high over $0.9400.
Solana (SOL) was one of Wednesday’s notable movers, as the token ended a three-day losing streak.
Following a low of $25.12 on Tuesday, SOL/USD raced to an intraday high of $26.57 earlier in today’s session.
The move is the first time solana has trended higher since consolidating a recent eight-month high.
From the chart, today’s rebound seems to have occurred as a result of the relative strength index (RSI) bouncing from a floor at 66.00
At the time of writing, the index is at 69.40, with an upcoming resistance point of 71.00 a possible destination for bulls.
Should this ceiling be broken, there is a good chance that solana could head back towards $30.00.
Sentiment remained largely bullish in XRP, formerly ripple, as traders once again attempted to push prices above $0.8200.
XRP/USD jumped to a peak of $0.8155 earlier in today’s session, before slipping to a current point at $0.7999.
Since climbing to $0.9479 last week, volatility in the token has skyrocketed, with both new buyers, and profit takers, battling for positions.
XRP/USD – Daily Chart
Market uncertainty has marginally faded, as a result of the RSI breaking out of a ceiling at 73.00. It is now tracking at 75.07.
Despite the next visible point of resistance being at 89.00, price is already overbought, which could lead to a prolonged sell-off.
As of writing, XRP remains largely unchanged at the $0.8000 mark.
