Cardano surged to a new multi-month high on Saturday, as the token rallied for the ninth straight session. The price is now up more than 15% in that time, cementing its place as the seventh largest cryptocurrency in the world. Avalanche is also trading higher, hitting a two-month high in the process.
Cardano (ADA)
Cardano (ADA) once again extended a recent uptrend, with the token rising for the ninth day in a row.
After a low of $0.4274 during the Friday session, ADA/USD rose as much as 5% today, peaking at $0.4581 in the process.
Saturday’s rise has sent ADA to its highest level since September 27, when the price was above $0.4600.
From the chart, it looks like the latest rise in price coincides with the RSI moving past a key top.
The aforementioned resistance point was at the 72.00 mark, with the index currently at 75.92.
If the price strength continues to move higher, an upcoming wall at the 80.00 mark could be a potential hurdle.
Avalanche (AVAX)
In addition to ADAavalanche (AVAX), was another notable gainer in the market to start the weekend.
AVAX/USD rose to an intraday high of $19.51 on Saturday, a day after trading as low as $18.52.
Similar to cardano, today’s move has sent a rush to a multi-month high, with the token hitting its strongest point since February.
Overall, AVAX is currently on a seven-day winning streak, which was extended following a breakout of an $18.50 ceiling.
Price strength is now at a reading of 66.54, with a next resistance point at the 70.00 mark.
If it hits this target, there is a strong possibility that AVAX will trade above $20.00.
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Do you expect AVAX to rise for the eighth day in a row on Sunday? Let us know your thoughts in the comments.
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