Biggest movers: AVAX hits highest since August after 17% jump
Avalanche (AVAX) was one of the notable movers on Thursday, as the coin climbed to its highest point since August.
AVAX/USD hits a high of $22.71 in the first day and trades as low as $18.80, showing these figures within a day. The move came as an avalanche from a long high at $21.65 to the strongest point since August 26. Looking at the chart, we can say that the move was made after the breakout of the resistance level at 72.00 on the Relative Strength Index indicator. Writing this down we can get that the index is tracking 72.62 and the next decimal resistance point we see is around the 74.00 mark. We can say that if this area is hit then there is a strong possibility that AVAX may move above $23.00 and in the process may take a 5 month high. Apart from AVAX, POLYGON (MATIC) was also seen moving higher most notably in today’s session, reaching multi-month highs in the process.
After hitting a low of $1.07 on Wednesday, MATIC/USD rose to a peak of $1.25 at the beginning of the day. Surging 15% in Thursday’s rally it was arguably its highest level since November 8th and at the time of writing we can say that MATIC has given up some of its earlier gains and currently trades at $1.23. doing. This data shows when the Relative Strength Index is nearing a resistance point at 70.00 we see as bulls can take profit while price strength is currently tracking at 69.90 while not going above the upcoming hurdle and in MATIC The upward momentum may start to shift.
