Solana (SOL) rose by as much as 20% on Saturday, breaking out of a key price ceiling in the process.
Cardano (ADA) also rose to its strongest point since November, with the global cryptocurrency market cap up 6.86%.
Both tokens have seen notable gains over the weekend, with bulls looking to drive prices higher in the near term.
The crypto markets saw some notable gains to start the weekend, with several tokens moving to their highest points since November. Solana (SOL) was one of the major movers, as the token rose by as much as 20% in Saturday’s session. This surge saw SOL/USD break out of a key price ceiling of $25.00, with the token hitting a 12-week high of $26.41 as of writing. The 14-day relative strength index (RSI) also broke out of a ceiling of its own at the 73.00 mark, tracking at 73.84 as of now. This surge follows on from Friday’s low at $21.27, with bulls looking to drive prices higher in the near term.
Cardano (ADA) was also one of Saturday’s notable gainers, as the token moved to its strongest point since November. Following a low of $0.3364 on Saturday, ADA/USD raced to an intraday peak of $0.3726 earlier today. This surge saw cardano jump to its strongest point in the past 12 weeks, breaking out of a resistance of $0.3650 in the process. The move took price strength to a ceiling of 73.00, however, it has so far failed to overcome this hurdle. As a result, earlier gains have somewhat eased, as traders moved to secure gains, leading to ADA currently trading at $0.366.
The global cryptocurrency market cap also saw a notable rise on Saturday, with the index up 6.86% as of writing. This surge followed on from a period of sideways trading over the past week, with traders now looking to drive prices higher in the near term. With both solana and cardano looking to break out of key resistance levels, the next few days could prove to be quite interesting in the crypto markets.