AVAX, which had been on a winning streak of three days, climbed to the top ten cryptocurrency coins after Wednesday’s win. Today’s move comes as THETA and NEO were also higher, despite the current market uncertainty.
The biggest gainers
The majority of crypto’s top 100 were caught in a red wave. However, there was one exception that managed to surf higher than the rest.
These include NEO, and THETA which were up between 4-8% respectively, however, today’s most impressive bull was AVAX.
The price of avalanche (AVAX) rallied for a third consecutive session, with today’s surge taking AVAX into the top ten crypto’s by market capitalization.
The intraday peak at $97.05 was achieved by AVAX/USD, which reached its highest level since Jan 12.
Profit-takers began liquidating their positions as soon as the prices reached the resistance level of $97.10. This led to an avalanche from the high.
As price strength was finding some resistance, the profit-taking began. In fact, the 14-day RSI hit its ceiling of 62 on the 14th, which is an area that has stalled bullish momentum previously.
AVAX trended up in the past three weeks. If the RSI levels are broken, then prices could soar to $100.
Biggest losers
While cryptocurrency markets are down 0.7% as of this writing, the market is not considered a bear. Price drops were minor.
Notable mentions include CELO and zcash, which fell as high as 4% during the day.
However, Wednesday’s biggest loser, relatively speaking, was polkadot (DOT), which as of writing was trading over 2% lower on the day.
Polkadot, currently at the #12 position in the crypto top 100 (DOT), was once an established contender for not only the top ten but also the list.
The price of DOT fell from a peak of $20.27 to $19.12 yesterday as markets look to seek support around $18.20.
In addition, the price strength of the 14-day RSI is currently tracking at 43. It appears that it will soon reach its floor of 38.
How low would you estimate DOT will fall if that happens? Is avalanche rising higher in your opinion? Please share your views with us in the comment section.
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