AVAX nears 2-month high, FIL up 15% despite weekend volatility – Reuters
Avalanche was trading near a two-month high on Saturday, despite the markets consolidating. Another exception was filecoin, which surged at the start of the weekend, climbing more than 10% in today’s session. As of this writing, crypto markets are trading up 1.03%.
Avalanche (AVAX) was one of the notable gainers on Saturday as prices edged closer to a two-month high.
After a low of $23.98 on Friday, AVAX/USD hit a high of $25.91 to start the weekend session.
The move sees the token approach its long-term high of $26.00 and a two-month high of $26.42.
Looking at the chart, today’s high comes as AVAX rallied for four consecutive sessions, pushing price strength to a multi-week high.
As of this writing, the Relative Strength Index (RSI) sits at 62.50, its highest level since July 22nd.
It is also slightly below a high of 64, which AVAX will need to overcome to climb above the $26.42 level.
As AVAX edged closer to a two-month high, filecoin (FIL) was once one of today’s biggest movers, with prices up almost 15%.
FIL/USD hit an intraday high of $9.43 to start the weekend, less than 24 hours after residing at a low of $8.10.
Following Saturday’s surge, FIL moved closer to its price cap of $9.50, which is usually the last line of defense against a move above $10.00.
Overall, filecoin is still up more than 25% in the past seven days, despite falling in price from a nearly three-month high of $11.37 last Monday.
In order for FIL to regain those highs, the 14-day RSI would have to break above its own resistance point.
The indicator currently sits at 70, which is already in overbought territory, but it will need to climb closer to 82, a point it hit on Monday.
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Do you expect filecoin to climb to $10 this weekend, despite the overbought? Let us know your thoughts in the comments.
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