Toncoin rose for a third straight day on Tuesday, despite crypto markets mostly stalling in today’s session. At the time of writing, the global market cap is up 0.02%, as traders move to secure Monday’s gains. Cardano was in the red, following a four-day bull run.
Biggest Movers: TON Hovers Above $2, ADA Bears End 4-Day Winning Run
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Toncoin (TON)
Toncoin was a big mover in today’s session, as the token continued to trade above its $2.00 threshold.
After falling to a low of $1.94 on Monday, TON/USD rallied to an intraday peak at $2.02 earlier in today’s session.
This is the highest point toncoin has hit since last Thursday, when the price reached the same point.
Current bullish momentum has so far not been strong enough to force a breakout of this level, and this appears to be due to the relative strength index ( RSI).
At the time of writing, price strength is tracking at 49.24, which is marginally below a resistance level of 50.00.
In order for TON to move beyond today’s high, this ceiling on the RSI indicator will first need to be broken.
Cardano (ADA)
On the other hand, cardano ( ADA) fell for the first time in four days, as traders moved to secure recent gains.
ADA/USD dropped to an intraday low of $0.2472 in today’s session, following a high of $0.253 the day before.
The move comes after bulls were unable to break out of a ceiling at $0.255 to start the week, with sellers entering the market in response.
Price now appears to be heading for a support point at $0.240, which has mostly been in place for the past four months.
A downward crossover between the 10-day (red) and 25-day (blue) moving averages has also contributed to the decline.
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Could cardano fall to $0.240 in the coming days? Let us know your thoughts in the comments.
