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Biggest Movers: AVAX Hits 1-Month High, DOGE Maintains Bullish Momentum

Analytics

news.bitcoin.com 28 October 2022 15:51, UTC
  
Reading time: ~2 m

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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