- Cardano’s volume declined to $1.01 billion while Solana’s value fell from $135.
- The MACD on the 4-hour chart indicated an impeding decline for ADA but the RSI suggested otherwise.
- SOL could swing between $126 and $130 as the short-term EMAs suggested consolidation.
Cardano’s (ADA) trading volume has decreased despite registering a price increase recently. According to CoinMarketCap, the volume was around $1.01 billion at press time. The trading volume is a measure of market interest in a cryptocurrency.
Therefore, an increase could suggest rising interest. But in ADA’s case, the decline implies that buying and selling of the token has reduced as capital seems to be rotating elsewhere.
Like Cardano, Solana (SOL) faced challenges despite its recent impressive performance. In the seven days, SOL’s price has increased by 24.80%. But after getting close to $140, the price reversed, changing hands at $129.32 at press time.
Cardano (ADA)
ADA’s price rose to $0.77, indicating that the decline in volume might not halt its rising price action. However, signals from the Moving Average Convergence Divergence (MACD) seemed to disagree.
A look at …
The post Cardano (ADA) and Solana (SOL): Are Major Price Shifts Imminent? appeared first on Coin Edition.