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Numerous altcoins are facing a recovery while panic is leaving financial markets<\/p>\n<\/div>\n<\/div>\n
With more than $200 billion being poured back into the cryptocurrency market<\/a>, the top 10 altcoins like Luna, Cardano\u00a0and Solana are entering the active recovery phase and gaining back from 10 to 20% of their value in the last 24 hours.<\/p>\n Yesterday, U.Today reported<\/a>\u00a0that ADA’s Relative Strength\u00a0Index has entered the extremely oversold zone by dropping below values of 30. Whenever an indicator shows that the assets are oversold, a short-term rebound should be expected by the market.<\/p>\n In the case of ADA, the recovery came even earlier than expected, with the token gaining back at least 10% of its value in the last 24 hours. But at the same time, the recovery is purely speculative, with no major resistance points being broken.<\/p>\n At\u00a0press time, ADA trades at $0.8 and still moves in the amplitude downtrend that has caused\u00a0at least a 70% loss for all Cardano investors.<\/p>\n Luna remains among the leaders of the current rally with a 25% price increase in the last 24 hours. Yesterday, LUNA<\/a>\u00a0plunged by 16% and reached a 200-day moving average, which could have caused an even stronger drawdown.<\/p>\n At press time, Luna trades at $64 and breaks through the 50-day moving average, which is usually considered the\u00a0first signal of\u00a0the beginning of the mid-term uptrend on the market.<\/p>\n Despite showing more down-to-earth performance, Solana was still able to gain almost half of the value it lost yesterday. But despite a short-term recovery, SOL<\/a>\u00a0is still moving in the downtrend that caused a 27% loss.<\/p>\n At press time, Solana is trading at $87 while reaching $75 amid yesterday’s market sell-off.<\/p>\n<\/div>\nCardano exits\u00a0oversold zone<\/h2>\n
Luna is leading\u00a0recovery rally<\/h2>\n
Solana follows the market<\/h2>\n