Avalanche was trading close to a two-month high on Saturday, despite markets mostly consolidating. Another exception was filecoin, which surged to start the weekend, climbing by over 10% in today’s session. As of writing, crypto markets are trading 1.03% higher.
Avalanche (AVAX) was one of Saturday’s notable gainers, as prices moved close to a two-month high.
Following a low of $23.98 on Friday, AVAX/USD surged to a high of $25.91 to start the weekend’s session.
This move sees the token move closer to its long-term ceiling of $26.00, and a two-month high of $26.42.
Looking at the chart, today’s peak comes as AVAX has rallied for four consecutive sessions, pushing price strength to a multi-week high.
As of writing, the relative strength index (RSI) is tracking at 62.50, which is its highest point since July 22.
This is also marginally below a ceiling of 64, which AVAX will need to overcome for it to climb above the $26.42 level.
While AVAX moved close to a two-month high, filecoin (FIL) was once of today’s biggest movers, as prices rose by nearly 15%.
FIL/USD raced to an intraday peak of $9.43 to start the weekend, less than 24 hours after residing at a low of $8.10.
As a result of Saturday’s surge, FIL moved close to its price ceiling of $9.50, which is usually the last line of defense to a move above $10.00.
Overall, filecoin is still up by over 25% in the last seven days, despite prices falling from a nearly three-month high of $11.37 this past Monday.
In order for FIL to recapture those highs, the 14-day RSI would need to move past a resistance point of its own.
The indicator is currently tracking at 70, which is already in overbought territory, however it will need to climb closer to 82, which is a point it hit on Monday.
Register your email here to get weekly price analysis updates sent to your inbox:
Do you expect filecoin to surge to $10 this weekend, despite being overbought? Let us know your thoughts in the comments.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Cryptox.trade does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.