Cardano gained more recently after Coinbase revealed that it now offers cardano staking. However, Thursday’s gains were led by axie Infinity (AXS).
Axie Infinity, (AXS).
Today’s token infinity (AXS) was up almost 25%, as traders continued to respond to tweets by Axie Infinity stating that the ears of “Axies”, will get their own cards for first time ever.
After a low of $50.76 Wednesday, AXS/USD surged to an intraday peak at $69.02 today.
Today’s action came after AXS broke through its resistance level at $57 and climbed to its highest point since February 7.
Today’s surge saw prices rise by as much 25% after breaking through one ceiling. It also saw another resistance point being reached.
The new ceiling is $69.24 resistance. It has been in effect for more than six weeks after a selloff of $84.
The bulls will likely be cognizant of this and may liquidate any gains to avoid price uncertainty if bears re-enter.
Cardano (ADA)
Despite DOGE (DOGE) rising by up to 10% on Thursday, these gains weren’t sustained today as the trading session matured.
cardano, however, traded close to 10% higher throughout today and was up 9.29% at the time of writing.
Today’s rally marked the sixth consecutive day that the price ADA rose. Today’s gains took it to its highest level since February 10.
Recent gains have seen the 14-day RSI rise to more than 74. This is the highest level of price strength since August 2013.
The chart shows that February 10 is a good indicator for what usually happens at these price levels. With ADA currently being overbought, it could indicate that we are in the midst of a reversal.
Recent increases in ADA are due to the announcement that Coinbase is ready to start allowing cardano ( ADA ) staking services.