DOGE, ADA Up Nearly 10% As AXS Leads Current Winners – Market Updates

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DOGE was higher in today’s session as a Bitcoin ATM operator was reported to have added the token to its kiosks. This is because cardano was also added to recent winnings, after it was revealed that Coinbase is now offering cardano strike. Nevertheless, it was axie infinity (AXS) that led Thursday’s winners.

Axie Infinity (AXS)

The token axie infinity (AXS) rose nearly 25% today as traders continued to respond to tweets from Axie Infinity saying that the ears of “Axies” will have their own cards for the first time.

After a low of $50.76 on Wednesday, AXS/USD rose to an intraday high at $69.02 during today’s session.

Today’s move came as AXS broke past its USD 57 resistance level and rose in the process to its all-time high since February 7.

AXS/USD – Daily Chart

After breaking a ceiling, today’s surge, with prices rising as much as 25%, to yet another point of resistance.

This new ceiling is the $69.24 resistance, which has been in place for more than six weeks, following a $84 sell-off.

Bulls will likely be aware of this and may liquidate some gains to avoid price uncertainty should bears re-enter the market.

Cardano (ADA)

Although dogecoin (DOGE) rose as much as 10% on Thursday, these gains did not last as today’s trading session matured.

Cardano (ADA), on the other hand, maintained its percentage gains, trading nearly 10% higher throughout the day and up 9.29% at the time of writing.

Today’s rally was the sixth day out of seven that ADA’s price has risen, with today’s gains hitting its all-time high since Feb. 10.

ADA/USD – Daily Chart

As a result of recent gains, the 14-day RSI has risen above 74, which is the peak point for price strength since August last year.

Looking at the chart, Feb. 10 is a good indicator of what is typically happening at these current price levels, and with ADA currently overbought, we could have a turnaround in store.

Recent surges in ADA follow news that Coinbase will begin using cardano (ADA) staking services.

Do we expect ADA prices to flip towards the weekend? Let us know your thoughts in the comments below.

Eliman Dambell

Eliman brings a diversified point of view to market analysis, having worked as a broker director, retail educator and market commentator in Crypto, Stocks and FX.




Image Credits: Shutterstock, Pixabay, Wiki Commons

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