Dogecoin (DOGE)
Dogecoin (DOGE) reached a new multi-month high on Tuesday, following Twitter’s rebrand to X. Here are the key points:
- DOGE/USD spiked to $0.07811, the highest point since May 6.
- A breakout of the 63.00 zone on the RSI triggered the rally.
- The RSI is currently at 66.66 and may reach a ceiling at 70.00.
- If the RSI reaches 70.00, there is a good chance DOGE will reach $0.08000.
Avalanche (AVAX)
Avalanche (AVAX) rebounded after Monday’s decline. Here are the key points:
- AVAX/USD rose to $13.38, recovering from a low of $12.92.
- The token approached a support level at $12.90 but didn’t break out.
- Price strength held firm at 44.00 on the support point.
- Momentum remains bearish, with the 10-day moving average nearing a downwards crossover with the 25-day moving average.
Hot Take
Both Dogecoin and Avalanche have experienced positive movements in their prices. DOGE’s rally was triggered by Twitter’s rebranding, while AVAX rebounded after a decline. However, both cryptocurrencies face challenges, with DOGE needing to break the $0.08000 mark and AVAX’s momentum remaining bearish. As always, it’s important to closely monitor these assets to make informed investment decisions.
Benito Cormi, the brilliant crypto analyst who has made waves in the world of cryptocurrency. With his razor-sharp analytical skills and deep understanding of the digital asset landscape, Benito has become a trusted figure in the industry and remains at the forefront, tirelessly researching and analyzing market trends to help individuals and businesses make informed decisions in this dynamic landscape.