Skip to main content

Biggest Movers: AVAX, RUNE up Over 10%, as CAKE Surges 20% on Thursday

Biggest Movers: AVAX, RUNE up Over 10%, as CAKE Surges 20% on Thursday

AVAX was once again higher on Thursday, rising for its fourth consecutive session, as it further cements itself in the crypto top ten. Although RUNE was also trading by as much as 15% higher, it was CAKE that led Thursday’s gainers.

Pancakeswap (CAKE)

Pancakeswap (CAKE) rose to its highest level in almost four weeks on Thursday, as it moved away from its recent lows.

Following a bottom of $5.37 on Wednesday, which was close to a one-year low, CAKE/USD climbed by as much as 21% today.

CAKE rallied to an intraday high of $7.19 in Thursday’s session, which is its highest level since February 21.

This high came as price strength also gained, blowing past its recent ceiling on the 14-day RSI indicator in the process.

Since passing the resistance of 42, the RSI is now tacking at 50.65, which is marginally above another ceiling at 49.15.

Should this momentum continue, we could see CAKE tracking at $8.35.

Avalanche (AVAX)

Avalanche (AVAX) further cemented its place as the world’s tenth-largest cryptocurrency on Thursday, as it rose by as much as 15% on the day.

As of writing this, AVAX/USD rallied for a fourth consecutive session today, rising to a high of $81.48 in the process.

This follows a peak of $73.83 on Wednesday, and brings the seven-day average gain to 10.35%, despite recent bearish market sentiment.

Looking at the chart, the 10-day moving average continues to approach the 25-day, which is setting the scene for a potential upward cross.

One of the only visible hurdles is the fact that we are currently trading close to the resistance level of 56 on the 14-day RSI.

Will current momentum be enough to take AVAX beyond this point? Let us know your thoughts in the comments.



from Bitcoin News https://ift.tt/RKa5MFr
Labels:

Comments

Post a Comment

Popular posts from this blog

Mt Gox Creditors Updated, Trustee Says Rehabilitation Custodian Is ‘Currently Preparing to Make Repayments’

On August 31, 2022, the Mt Gox trustee Nobuaki Kobayashi explained in a recent letter that the rehabilitation custodian is “currently preparing to make repayments” to Mt Gox creditors. Trustee Updates Mt Gox Creditors — Repayment Date and Exchange Still Unknown Last week speculation and rumors concerning the release of 140K bitcoin ( BTC ) from Mt Gox littered social media platforms and headlines. Bitcoin.com News covered the situation six days ago as a number of people and Mt Gox creditors called the rumors “ fake news .” During that same period of time, a bitcoin whale transferred 10,000 BTC to unknown wallets, and a 2018 annotation , heuristics, and clustering methods show the funds likely originated from the June 2011 Mt Gox hacks. Following the mysterious whale transfer, last Wednesday, Mt Gox published an official update from the court trustee Nobuaki Kobayashi that explains the court is “currently preparing to make repayments” to creditors. Mt Gox creditors have been wait...
Post a Comment
Read more

International Crypto Exchange Luno Adds Bitcoin Cash Trading

Luno exchange has added bitcoin cash trading to the platform following feedback from its client base. BCH is now only the third cryptocurrency available for trading on the exchange, in addition to BTC and ETH , but more options could be on the way once Luno determines that they are credible enough. Also Read: Bitflyer Adds Bitcoin Cash Trading Across Europe and the US Luno Adds Bitcoin Cash Trading Luno, the London-headquartered company formerly known as Bitx, recently announced that bitcoin cash was made available on its cryptocurrency exchange. Starting from Monday, September 23, customers at Luno are now able to store, buy and sell BCH on the platform. The reason given for adding BCH to the exchange is feedback from users in developing markets that convinced Luno to expand their offering from previously just BTC and ETH . Marcus Swanepoel, CEO of Luno, said , “We are in a new and exciting financial era. Developing economies are leading the large-scale adoption and appli...
Post a Comment
Read more

DefiDollar Listing on AscendEX

PRESS RELEASE. AscendEX, formerly BitMax, an industry-leading digital asset trading platform built by Wall Street quant trading veterans, has announced the listing of the DefiDollar Token (DFD) under the pair USDT/DFD on Apr 29 at 1:00 p.m. UTC. DefiDollar is a DeFi lab that aims to bring mass adoption to DeFi with a wide-ranging product suite. The first product offering to go live will be the stablecoin index – DUSD, with ibBTC and optionCoin currently in development. DefiDollar (DUSD) aspires to be a risk-insured stablecoin layer for DeFi. It is designed to provide a safe and stable way for users to hold their assets with DUSD being optimized for peg safety, yield, and diversification. DefiDollar uses DeFi primitives to stay close to the dollar mark. DUSD provides an avenue for diversifying stablecoin holdings to hedge against an event where the underlying stablecoins like Tether or DAI deviate from their peg. DUSD is collateralized by Curve Finance LP tokens. DFD is the n...
Post a Comment
Read more