The crypto market was mostly green Saturday with AVAX RUNE ZEC and AVAX being notable gainers. Apecoin lost as much as 13% in its third session following back-toback gains.
Avalanche (AVAX)
FTM, WAVES, LUNA and WAVES all traded over 10% on Saturday. But, AVAX was AVAX’s top gainer for the first weekend.
Following a low of $76.74 on Friday, avalanche (AVAX) rallied above its $90 resistance level in today’s session, hitting an intraday high of $90.27 in the process.
Today’s move was the highest level AVAX has traded since February 18, as prices began to slip from highs above $98.
After bouncing back from $66, Avalanche rose for 7 consecutive sessions.
You can see that the price strength chart is currently tracking at 62.5. That is just a marginal resistance to 61 and it is at its highest level since February 16.
This momentum could continue and bulls may make another push towards $100.
Zcash
Zcash, ZEC (ZEC), was up by more than 16% as the prices rose to their highest point in over three years.
After trading at a low of $148.86 yesterday, today’s high of $177.63 saw ZEC/USD break past its long-term ceiling of $172.20 in the process.
Saturday’s peak is the highest point that the price of ZEC has traded since December 9, and comes as price strength appears to be overbought.
At the time of writing, the 14 day RSI was at 66.61. That is just slightly less than resistance at 68.46. A point at which bear runs have been common in the past.
You can see that prices fell from previous highs. Bears are leaving positions. But, we will wait and watch to see if it lasts. Bullish pressure is still present.
Are you expecting a ZEC reversal now that resistance is over? Please share your views with us in the comments.
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