Skip to main content

Biggest Movers: AVAX Hits Multi-Month Peak, as MATIC Jumps to 1-Week High

Avalanche moved to a multi-month high on Jan. 24, after reports that the number of bitcoin on its network rose to 5,493. The news saw the token surge by nearly 5% today, rising for a third straight session in the process. Polygon also moved higher on Tuesday, hitting a one-week high.

Avalanche (AVAX)

Avalanche (AVAX) rose to a multi-month high on Tuesday, as prices rallied for a third consecutive session against a backdrop of bullish news.

Following a low of $17.43 to start the week, AVAX/USD moved to an intraday peak of $18.86 earlier today.

As a result of today’s surge in price, AVAX has risen to its strongest point since Nov. 6.

Looking at the chart, the move took place following a breakout of a ceiling at the $18.50 mark.

In addition to this, the 14-day relative strength index (RSI) neared a resistance level of its own at 72.00

At the time of writing, the index is tracking at 71.11, with earlier gains fading, resulting in AVAX currently trading at $18.22.

Polygon (MATIC)

In addition to AVAX, polygon (MATIC) climbed higher in today’s session, following a collision with a key price floor.

MATIC/USD raced to a peak of $1.04 earlier in the day, less than a day after hitting a low of $0.9849

The move saw polygon reach its highest level since last week Monday, when price was last close to a resistance of $1.05.

However, like on that occasion, prices have since plunged, with momentum not strong enough to force a breakout.

As of writing, MATIC/USD is now trading at $1.00, which is also its long-term support point.

One positive is that the RSI seems to be a fair distance away from its own floor at 61.00, and is currently tracking at 63.27, with a ceiling of 65.00 a possible target.

Register your email here to get weekly price analysis updates sent to your inbox:

Do you expect polygon to move beyond $1.05 this week? Let us know your thoughts in the comments.



from Bitcoin News https://ift.tt/guCXmBn
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