Avalanche (AVAX) headed for a gain on Tuesday as its prices rose after the release of US inflation data and the Consumer Price Index (CPI) for November came in at 7.1%, well below traders’ expectations of 7.3%.
As a result, AVAX/USD reached a 1-day high of $14.09, which saw prices rise by about 10%, where we can say, looking at the bullish, that the Avalanche entered at its best price since December 5th. The coin was last trading at $13.75 as its upper limit and the 14-day Relative Strength Index (RSI) also moved up later and broke out of the resistance point of 51.50 in the process.
Gains in AVAX have petered out from the previous high and the token is trading at $13.94 at the time of writing.
Litecoin ( LTC ) also climbed higher in today’s session and the token made a decent recovery to start its losses where it was at its lowest level since Nov. 29, despite its last fall to $73.52. The token achieved a high of $79.52 earlier today and this surge in price has sent Litecoin to its highest price since December 7th which works above the previous price of $80.00 and looking at the chart we can see that One can understand that today’s bullish momentum definitely serves as a bounce off the RSI’s low of 55.50, and it is now nearing its high of 61.50.
While this move has also sent the 10-day red moving average up and it is definitely on the way ahead, it looks like the US Federal Reserve on Wednesday will now decide where to hold crypto over the Christmas period. How will the currency prices increase?
