Biggest Movers: DOGE, ADA Nearly 10% Higher, as AXS Leads Today’s Gainers
DOGE was higher during today’s session, as it was reported that a Bitcoin ATM operator added the token to its Kiosks. This comes as cardano also added to recent gains, after it was revealed that Coinbase is now offering cardano staking. Despite this, it was axie infinity (AXS) that led Thursday’s gainers.
Axie Infinity (AXS)
The token axie infinity (AXS) was up by almost 25% today, as traders continued to react to tweets from Axie Infinity that said that the ears of “Axies” will have their own cards for the first time ever.
Following a low of $50.76 on Wednesday, AXS/USD rallied to an intraday high at $69.02 during today’s session.
Today’s move came as AXS broke past its resistance level of $57, rising to its highest point since February 7 in the process.
AXS/USD – Daily Chart
After breaking out of one ceiling, today’s surge which saw prices climb by as much as 25%, rising to yet another point of resistance.
This new ceiling is the $69.24 resistance, which has been in place for over six weeks, following a selloff from $84.
Bulls will likely be aware of this, and may liquidate some gains, in order to avoid price uncertainty, should bears re-enter the market.
Cardano (ADA)
Although dogecoin (DOGE) rose by as much as 10% on Thursday, these gains were not sustained as today’s trading session matured.
However, cardano (ADA), on the other hand, maintained its percentage gain, trading close to 10% higher throughout the day, and was up 9.29% as of writing.
Today’s rally was the sixth day in seven that the price of ADA has risen, with today’s gains taking it to the highest point since February 10.
ADA/USD – Daily Chart
As a result of recent gains, the 14-day RSI has surged to over 74, which is the peak point for price strength since August last year.
Looking at the chart, February 10 is a good indicator of what typically happens at these current price levels, and with ADA currently overbought, we could be in store for reversal.
Recent surges in ADA follow the news that Coinbase is set to begin allowing for the use of cardano (ADA) staking services.
Do we expect the prices of ADA to turn around heading into the weekend? Let us know your thoughts in the comments section below.
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