AVAX Nears 2-Month High, FIL Up 15% Despite Weekend Volatility – Market Updates Bitcoin News
Avalanche traded near two-month highs on Saturday, despite markets largely consolidating. Another exception was filecoin, which rallied to start the weekend, climbing over 10% in today’s session. At the time of writing, the crypto markets are trading 1.03% higher.
Avalanche (AVAX) was one of Saturday’s notable gains, as prices moved near two-month highs.
After a low of $23.98 on Friday, AVAX/USD rose to a high of $25.91 to start the weekend session.
This move sees the token moving closer to its long-term ceiling of $26.00, and a two-month high of $26.42.
Looking at the chart, today’s top comes as AVAX has rallied for four consecutive sessions, pushing price strength to a multi-week high.
At the time of writing, the relative strength index (RSI) follows at 62.50, which is the highest point since 22 July.
This is also marginally below a ceiling of 64, which AVAX must overcome to climb above the $26.42 level.
While AVAX moved near a two-month high, filecoin (FIL) was one of the biggest movers of the day, as prices surged by nearly 15%.
FIL/USD rallied to an intraday high of $9.43 to start the weekend, less than 24 hours after settling at a low of $8.10.
As a result of Saturday’s rally, FIL moved close to the $9.50 price ceiling, which is usually the last line of defense for a move above $10.00.
Overall, filecoin is still up over 25% in the past seven days, despite prices falling from a near three-month high of $11.37 this past Monday.
For FIL to recapture these highs, the 14-day RSI must move past a separate resistance point.
The indicator is currently tracking 70, which is already in overbought territory, but it needs to climb closer to 82, which is a point it hit on Monday.
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Do you expect filecoin to rise to $10 this weekend, despite being overbought? Let us know your thoughts in the comments.
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