AVAX Nears 2-Month High, FIL Up 15% Despite Weekend Volatility – Market Updates Bitcoin News

AVAX Nears 2-Month High, FIL Up 15% Despite Weekend Volatility – Market Updates Bitcoin News
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)

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.

Biggest Movers: AVAX Nears 2-Month High, FIL Up 15% Despite Weekend Volatility
AVAX/USD – Daily Chart

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.

Filecoin (FILE)

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.

Biggest Movers: AVAX Nears 2-Month High, FIL Up 15% Despite Weekend Volatility
FIL/USD – Daily chart

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.

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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.

Eliman Dambell

Eliman brings an eclectic point of view to market analysis, having worked as a Broker Director, Retail Educator and Market Commentator in Crypto, Stocks and FX.




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