Dogecoin is up more than 6% at the start of the week as prices pulled back towards a key resistance level. The meme coin rose for the fifth session in a row, despite the cryptocurrency market falling 1.54% at the time of writing. Avalanche was also up, hitting a two-month high.
Dogecoin (DOGE)
Dogecoin (DOGE) rose as much as 6% on Monday, as prices rallied for the fifth session in a row.
Following a low of $0.08858 on Sunday, DOGE/USD reached an intraday high of $0.0946 earlier in today’s session.
The move caused dogecoin to approach key resistance at the $0.0960 level, which was last reached on April 5.
Looking at the chart, one of the catalysts for today’s price rise was a breakout that occurred in the RSI.
At the time of writing, price strength has moved past a ceiling at the 61.00 mark and is at 62.87.
An upcoming wall at 65.00 could be a hurdle for current bulls. However, if they break above this, there is a good chance that DOGE will pull back above $0.1000.
Avalanche (AVAX)
Besides DOGE, Avalanche (AVAX), was another notable gainer in the market to start the week.
AVAX/USD rose to an intraday high of $21.011 on Monday, after a low of $19.04 during the session on Sunday.
As a result of Monday’s price increase, the avalanche reached its highest point since February 22.
This has resulted in the token briefly breaking a resistance point at $20.90, however gains have since declined.
It appears that the momentum fell short after the RSI hit its own top at the 73.00 mark.
Although the index is now at 73.17, previous bulls appear to be more tentative and are moving in to lock in gains.
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Can the avalanche exceed $22.00 in the next week? Let us know your thoughts in the comments.
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