• Despite Weekend Volatility, AVAX Nears 2-Month High, FIL Up 15%

  • Despite market consolidation, Avalanche was trading near a two-month high on Saturday. Another notable exception was filecoin, which surged to begin the weekend, rising by more than 10% in today’s session. As of this writing, crypto markets are up 1.03 percent.

    Avalanche (AVAX)

    Avalanche (AVAX) was one of the day’s noteworthy gainers, with prices approaching a two-month high.

    Following a low of $23.98 on Friday, AVAX/USD soared to a weekend high of $25.91.

    The token has moved closer to its long-term limit of $26.00, as well as a two-month high of $26.42.

    According to the chart, today’s peak comes after AVAX had surged for four straight sessions, bringing price strength to a multi-week high.

    As of this writing, the relative strength index (RSI) is at 62.50, its highest level since July 22.

    This is also slightly below a ceiling of 64, which AVAX must surpass in order to rise above the $26.42 level.

    Filecoin (FIL)

    While AVAX reached a two-month high, filecoin (FIL) was one of today’s biggest movers, with prices rising by about 15%.

    FIL/USD soared to an intraday high of $9.43 to begin the weekend, just less than 24 hours after hitting a low of $8.10.

    FIL went near to its price ceiling of $9.50 as a result of Saturday’s rise, which is normally the last line of defense against a move above $10.00.

    Despite dipping from an almost three-month peak of $11.37 this past Monday, filecoin is still up more than 25% in the last seven days.

    In order for FIL to reclaim those highs, the 14-day RSI must break through its own resistance level.

    The indicator is presently tracking at 70, which is already overbought, but it will need to grow closer to 82, which it reached on Monday.

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