Avalanche hits weekly high on Tuesday Did. As markets reacted to the latest US inflation report. Consumer prices he rose to 7.1% in November, which was below the market’s expected 7.3%. The figure was 0.6% lower than October’s 7.7%. Litecoin also rebounded based on the data, rising more than 6%.
Avalanche (AVAX)
Avalanche (AVAX) posted a notable gain on Tuesday as prices surged following US inflation announcements.
The Consumer Price Index (CPI) was 7.1% in November, lower than traders’ expectations of 7.3%.
As a result, AVAX/USD climbed to an intraday high of $14.09, pushing the price up nearly 10%.
Today’s rise shows the avalanche has reached its strongest point since December 5th. increase. Capped at $13.75.
The 14-day Relative Strength Index (RSI) also rose, breaking through the 51.50 resistance point in the process.
AVAX rise eased from previous highs, writing The token is currently trading at $13.94.
Litecoin (LTC)
Litecoin (LTC) also rose in today’s session, with tokens recovering from losses to close the week. It was started.
After falling to $73.52, this is after LTC/USD reached his lowest level since Nov 29, the token hits a high of $79.52 today plummeted.
This price surge has taken litecoin to its highest level since December 7th. This is the last time the price crossed $80.00.
Looking at the chart, today’s bullish momentum is his RSI at 1 Appears when bouncing off the floor. At 55.50 and now nearing the 61.50 ceiling.
This move also pushed the 10-day (red) moving average higher, and a day later it looked like it was headed for a solid downtrend.
What happens at the US Federal Reserve Board on Wednesday will determine how cryptocurrency prices move towards the Christmas period.
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