As December approaches, Solana (SOL) and Cardano (ADA) are in the spotlight. The ChangeNOW exchange is noting the increasing trading volumes for both cryptocurrencies. Popular with conscious investors and whales concerned about security, this decentralized exchange is showing that investors are saving. This suggests that SOL and ADA could gain value in the future.
Solana (SOL) Shows Growth Potential Amid Market Volatility$SOL
Solana’s price is currently fluctuating between $205 and $240, with a small 1% increase over the past week. Despite a 9% drop over the past month, it has gained over 60% over the six-month period. Technical indicators, particularly the Relative Strength Index (RSI) at 39 and low stochastic readings, suggest that Solana is oversold and could potentially be in for a recovery. If the bullish momentum continues, the price could rally to $255, potentially representing a 15% increase. The alignment of moving averages and the MACD approaching the positive territory suggest that the bulls are likely to dominate the market.
Cardano’nun$ADA
Its price is currently trading between $0.94 and $1.22, with a modest increase of 0.29% in the past week. It is up 45.95% in the past month and a massive 166.49% in six months. Technical indicators, especially the Relative Strength Index (RSI) at 34.30 and the Stochastic Oscillator at 10.43, suggest that Cardano is oversold and could potentially rally. The nearest resistance level is $1.35, if broken, the price could rally to $1.64. Support levels are set at $0.78 and $0.50. Additionally, the 10-day and 100-day moving averages are at $1.04 and $1.08, respectively. These technical indicators are sending signals that the bulls could soon dominate the market.
Solana and Cardano could see potential gains in December amid rising trading volumes and strong technical indicators. Traders should continue to monitor the price action and technical data of both cryptocurrencies as these coins could see significant price movements in the short term.
