Avalanche moved to a multi-month high on January 24 following reports that the number of bitcoins on the network rose to 5,493. The news sent the token surging nearly 5% today, the third consecutive session of gains in the process. Polygon also moved higher on Tuesday, hitting a one-week high.
Avalanche (AVAX)
Avalanche (AVAX) rose to a multi-month high on Tuesday, as prices rose for the third consecutive session on bullish news.
Following a low of $17.43 earlier in the week, AVAX/USD moved to an intraday peak of $18.86 earlier today.
As a result of today’s price surge, the AVAX rose to its strongest point since November 6.
The chart shows a move after a breakout from the $18.50 ceiling.
In addition to this, the 14-day Relative Strength Index (RSI) is approaching its own resistance level at 72.00
As of this writing, the index is hovering at 71.11, which means that the earlier gains have faded and as a result, AVAX is now trading at $18.22.
Polygon (MATIC)
In addition to AVAX, Polygon (MATIC) has also rallied in today’s session after clashing with key price areas.
MATIC/USD ran up to a peak of $1.04 early in the morning, less than a day after hitting a low of $0.9849
The move saw the polygon reach its highest level since last Monday, when prices last approached $1.05 resistance.
But just like then, price has since plunged and is not strong enough to force a breakout.
As of this writing, MATIC/USD is currently trading at $1.00, which is also a long-term support point.
The RSI appears to be well off the 61.00 floor and is currently at 63.27, with a ceiling of 65.00 a possible target.
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