AVAX rose again on Thursday to a record high, gaining for its fourth consecutive session. This further solidifies it in the crypto top 10. Although RUNE was also trading by as much as 15% higher, it was CAKE that led Thursday’s gainers.
Pancakeswap
Pancakeswap, (CAKE), reached its peak in four weeks. It also moved up from the lows it had been at.
The CAKE/USD gained as much as 21% after a low of $5.37 Wednesday. This was just a few days away from a 1-year high.
CAKE rallied to an intraday high of $7.19 in Thursday’s session, which is its highest level since February 21.
This was due to price strength, which also grew and surpassed the recent ceiling for the 14 day RSI indicator.
The RSI has now passed resistance 42 and is at 50.65. This is slightly above the 49.15 ceiling.
CAKE tracking may reach $8.35 if this trend continues.
Avalanche (AVAX)
Avalanche (AVAX) further cemented its place as the world’s tenth-largest cryptocurrency on Thursday, as it rose by as much as 15% on the day.
AVAX/USD rose for the fourth straight session as of this writing, reaching a peak of $81.48 at that time.
The gain is despite the bearish mood in recent markets, at 10.35% for seven days. This occurs after Wednesday’s peak of $73.83.
You can see that the 10-day moving Average is still close to the 25 day, setting the stage for an eventual upward cross.
The only thing that is visible in the market right now is the resistance of 56 on the 14 day RSI.
Can the momentum at this time be sufficient to push AVAX forward? Please share your views with us in the comments.
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