ADA Hits 1-Week High, HNT Gains Nearly 20% Monday – Market Update Bitcoin News

Cardano rose nearly 15% on Monday as the crypto markets started the week mostly in the green.Although from ADAHNT was one of the biggest movers today, rising more than 20% to its highest point in more than a week.

Cardano (ADA)

ADA It rose on Monday, gaining nearly 15% on the day after three straight sessions of gains.

Today’s rally was the most significant of the past two days, sending prices surging to their highest level since May 23.

The recent uptick started after a false breakout of the $0.4600 support level, and prices have now rebounded to an intraday high $0.5449 earlier today.

Biggest movers: ADA hits 1-week high, HNT up nearly 20% on Monday
ADA/USD – daily chart

Look at the chart, today’s peak is over ADA/USD is nearing resistance at $0.5580, which has not been broken since May 18.

The 14-day RSI is also hovering around its own upper limit of 44.60, and further gains are unlikely unless this hurdle is overcome.

Helium (HNT)

at the same time ADA One of the most notable movers on Monday was HNT, arguably the largest in the crypto market due to its top 10 status.

HNT jumped nearly 24% to start the week, with the price reaching an intraday high of $8.90 in the process.

This recent move in HNT was also born with a price floor at $6.70 and continued above the temporary resistance point at $8.50.

Biggest movers: ADA hits 1-week high, HNT up nearly 20% on Monday
HNT/USD – daily chart

The bulls now look to be trying to retake the $9.90 high, the only remaining hurdle before HNT returns to the $10 mark.

Looking at the chart, the RSI could also pose a threat to the bulls’ hopes as HNT is about to hit the 44.50 ceiling.

If that happens, then we could see $9.90 in the next few days and an influx of new bulls could help the price back into double digits.

Will today’s bullish sentiment continue into June? Let us know your thoughts in the comments.

Elijah Danbell

Eliman brings an eclectic perspective to market analysis, having served as a brokerage director, retail trading educator and market commentator for cryptocurrencies, stocks and foreign exchange.

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