Cardano will have to protect 86 cents for the next few hours before attempting once again for $ 1. Tezos, on the other hand, climbed to $ 4.25 and gained breakthrough momentum, while revisiting $ 4 after being rejected.
Cardano (ADA) price analysis
The $ 0.86 zone remained solid as the demand zone, though the ADA was trending bearish on the charts.
On the hourly chart, the RSI dropped below the neutral 50 to show bearish momentum. The trading volume is also decreasing as buyers push the price back above the highlighted region.
Therefore, in the short term, ADA showed signs of selling pressure as it approached the $ 0.95-1 supply area. A trading session below $ 0.86 is expected to serve as support at $ 0.74, the $ 0.815 and 23.6% retracement level, indicating a retracement for the ADA.
Tezos (XTZ) price analysis
Tezos has shown a strong uptrend and may reverse the upward channel and rise above the $ 4.25 resistance level. A second refusal from resistance in the event of a reverse move could result in XTZ pulling back gains and moving towards the $ 3.8 mark.
The reaction of the price in the next few hours is important. Momentum is next to the bulls and the purchase volume is higher than the sales volume at OBV.
DMI showed a strong upward trend, but XTZ’s response at this resistance level is significant. A break past $ 4.25-4.3 and a retest of the same region confirms an upward move, while a drop below $ 4 could result in XTZ falling to $ 3.8.