ADA bounces back, FIL hits 2-week high on Saturday – improving market bitcoin news

Despite the mostly volatile session, there are a few signs that managed to escape the red tide. To start the weekend, Cardano rose to its highest level in more than a week, as the price moved to a key resistance level. Filecoin was another popular earner that jumped over 12% on Saturday.

Cardano (ADA)

Cardano (ADA) returned to the green on Saturday as the signal increased following the recent price decline.

Following Friday’s low of $0.4499, ADA/USD rose intraday to $0.4769 to start the weekend.

The move will see Cardano close to its long-term resistance level at $0.4800 as bulls take price off the $0.4430 floor.

ADA/USD – Daily Chart

Looking at the chart, the support rally comes as the 10-day moving average (red) continues to move sideways, after a bearish move.

This may signal the end of the bullish spell we saw in mid-August, when the price went from $0.5811 to $0.4343 in four days.

As of writing, ADA is currently trading at $0.4742, with the 14-day Relative Strength Index (RSI) tracking above the 50.00 ceiling.

Filecoin (FIL)

The token rose up to 12% to start the weekend as Filecoin (FIL) was also higher on Saturday.

FIL/USD rose to $6.59 on Saturday, its strongest point since August 20.

This surge in prices saw FIL briefly break above the $6.50 resistance level for the first time in over two weeks.

FIL/USD – Daily Chart

As can be seen from the chart, this price increase has taken the RSI to the ceiling of 50.65, and if bulls want to extend today’s gains, this point must be broken.

If this happens, we will see the coin close to the $7.00 mark, with a chance of $8.00 again on the cards.

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Do you believe that filecoin will reach $8.00 in the coming days? Let us know your thoughts in the comments.

Ilya Dumbledore

Elliman brings a multifaceted perspective to market analysis, having worked as a Broker Director, Retail Educator and Market Analyst in Crypto, Stocks and FX.

Image credits: Shutterstock, Pixabay, Wiki Commons, Dennis Dietel /

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