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

Avalanche traded close to its two-month peak on Saturday, even though markets were consolidating. Another exception was filecoin, which surged to start the weekend, climbing by over 10% in today’s session. At the time of writing crypto markets were trading at 1.03% more.

Avalanche (AVAX)

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.

The token moves closer to $26.00 as its long-term limit, while $26.42 is the current high.

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

Looking at the chart, today’s peak comes as AVAX has rallied for four consecutive sessions, pushing price strength to a multi-week high.

At the time of writing, relative strength index, (RSI), is at 62.50. This is its highest point since August 22.

AVAX must also surpass a ceiling 64 to reach the $26.42 mark.

Filecoin, FIL

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 up to an intraday high of $9.43 in the first weekend of this week, just 24 hours after it sat at $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.

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

Overall, filecoin prices are up more than 25% during the last seven-days despite falling to $11.37, almost three months ago, and that Monday’s high of $11.37.

FIL would have to regain these highs if the 14-day RSI moves past a resistance.

The indicator is at 70. Although it is in an overbought area, the indicator will have to rise to 82. That was Monday’s point.

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Are you expecting filecoin’s price to rise to $10 next weekend? Please share your views with us in the comments.

Eliman Dambell

Eliman is a market analyst with a diverse perspective. He has worked in various capacities, including as a retail trading teacher, brokerage director, and commentator for Crypto, Stocks, and FX.

Credits for the imageShutterstock. Pixabay. Wiki Commons

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