Avalanche (AVAX)
Avalanche (AVAX) experienced a significant increase on Friday, with the cryptocurrency rising by up to 7% throughout the day.
After reaching a low of $9.85 on Thursday, AVAX/USD surged to a peak of $10.80 in today’s session.
This rise propelled Avalanche to its highest level since August 29, surpassing a crucial price ceiling of $10.00 in the process.
When analyzing the chart, it is noticeable that the relative strength index (RSI) also surpassed its own resistance level at 65.00.
Currently, the price strength stands at 68.54, which marks its highest point since mid-April this year.
The next target for current buyers is likely to be $11.00. However, as the price is now overbought, a reversal may also be possible.
Toncoin (TON)
Toncoin (TON) continued its positive trend for a second consecutive session, edging closer to an important resistance level in the process.
On Friday, TON/USD increased by nearly 3%, reaching a peak of $2.15 at the time of writing.
Overall, this represents Toncoin’s strongest point since the end of September when the price last reached a ceiling of $2.25.
The chart indicates that this occurred as the RSI approached a ceiling at the 57.00 mark.
With the current price strength at 54.22, there is a high probability that reaching 57.00 will result in Toncoin trading at $2.25.
Hot Take: Avalanche and Toncoin Make Gains Despite Bearish Market
Avalanche and Toncoin showcased impressive performances in today’s market, defying the overall bearish sentiment.
Avalanche experienced a significant surge, reaching its highest level in six weeks, while Toncoin continued its positive streak, moving closer to a key resistance level.
These gains indicate strong investor interest and suggest that both cryptocurrencies may have further upside potential.
However, caution is advised as Avalanche is currently overbought, potentially signaling a reversal in the near future.
Nevertheless, the recent performances of Avalanche and Toncoin demonstrate their resilience and ability to outperform the broader market.
Investors should closely monitor these cryptocurrencies for potential trading opportunities as they continue to make waves amidst challenging market conditions.
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