Biggest Movers: AVAX Hits 1-Month High, DOGE Maintains Bullish Momentum
Avalanche rallied to a four-week high on Friday, as prices moved close to a key resistance level. The token hit a ceiling of $17.70 earlier in today’s session, which comes following several days of gains. Dogecoin also maintained recent sentiment, as prices climbed for a fourth straight day. Avalanche (AVAX)
Avalanche (AVAX) rose to a one-month high on Friday, closing in on a key resistance level in the process.
Following a low of $16.83 on Thursday, AVAX/USD made a move to a peak of $17.70 earlier in today’s session.
This surge in price sees AVAX hit its highest point since September 27, when the token was trading at a high of $18.47. AVAX/USD – Daily Chart
Looking at the chart, prices have marginally decreased from the earlier peak, and as of writing the asset is trading at $17.67.
The uncertainty in price action comes despite the fact that the 14-day relative strength index (RSI) moved past its ceiling of 60.00.
The index is currently tracking at 60.76, which is its strongest point since August 14. Dogecoin (DOGE)
For a fourth consecutive day dogecoin (DOGE) has climbed higher, with the token now approaching a fresh multi-month high
Today’s move, which saw DOGE/USD hit a peak of $0.0854, has pushed the meme coin into the cryptocurrency top ten.
As a result of Friday’s 10% gain, prices are now at their strongest point since August 17, with the RSI also higher. DOGE/USD – Daily Chart
Looking at the chart, the index is now tracking at 84.58, which is its highest point in over a year.
Overall, price is now deep in overbought territory, which could be a positive for bears looking to short the token.
Despite this, momentum of the 10-day (red), and 25-day (blue) moving averages remains high, which some see as a sign of further upcoming rallies.
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How high do you expect dogecoin to climb this weekend? Let us know your thoughts in the comments. Eliman Dambell
Eliman brings an eclectic point of view to market analysis, he was previously a brokerage director and retail trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX. Bitcoin, Ethereum Technical Analysis: ETH Falls Below $1,500 — Market Momentum Remains Bullish MARKET UPDATES | 11 hours ago Biggest Movers: DOGE up by Over 17% as Elon Musk Comments on Twitter Takeover MARKET UPDATES | 1 day ago
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