ADA hits 1-week high, HNT nearly 20% higher on Monday – Reuters


Cardano was up almost 15% on Monday, with crypto markets mostly in the green to start the week. Despite the gains in ADA, HNT was one of the biggest movers today, as it rose over 20%, reaching a high in over a week.

Gimbal (ADA)

ADA rallied on Monday, as it rose almost 15% on the day, after three straight sessions of gains.

Today’s rally was the most notable in the past two days and sent prices soaring to their highest level since May 23rd.

This recent run began following a false break of support at $0.4600, with prices now rallying to an intraday high of $0.5449 earlier in the day.

Biggest moves: ADA hits 1-week high, HNT almost 20% higher on Monday
ADA/USD – Daily Chart

Looking at the chart, today’s spike has brought ADA/USD near its resistance point of $0.5580, which has not been broken since May 18th.

The 14-day RSI is also hovering around its own ceiling at 44.60, and further rallies are unlikely unless this hurdle is overcome.

Helium (HNT)

While ADA was one of the most notable movers on Monday, due to its top 10 status, HNT was arguably the biggest in the crypto markets.

HNT rose nearly 24% to start the week, with prices hitting an intraday high of $8.90 during the process.

This recent series of HNT forms also originated at its floor price of $6.70 and continued to break an interim resistance point of $8.50.

Biggest moves: ADA hits 1-week high, HNT almost 20% higher on Monday
HNT/USD – Daily Chart

The bulls now appear to be attempting to regain a high of $9.90, which is the only remaining hurdle before HNT returns to the $10 mark.

Looking at the chart, the RSI will potentially pose a threat to the bulls’ hopes as well, as HNT is about to top out at 44.50.

If that happens, we will likely see $9.90 in the next few days, with an influx of new bulls likely to help bring prices back into the double digits.

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

Eliman Dambell

Eliman brings an eclectic perspective to market analysis, having worked as a brokerage manager, retail educator, and market commentator in crypto, stocks, and FX.

Image credits: Shutterstock, Pixabay, Wiki Commons

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