Dogecoin gained more than 6% for the week as prices moved back toward key resistance levels. Despite the cryptocurrency market being down 1.54% at the time of writing, meme coins rose for the fifth consecutive session. Avalanche also rose, hitting a two-month high.
Dogecoin (DOGE)
Dogecoin (DOGE) surged in price on Monday for the fifth consecutive session, rising up to 6%.
After Sunday’s low of $0.08858, DOGE/USD ran up to an intraday peak of $0.0946 earlier in the session today.
The move brought dogecoin closer to key resistance at the $0.0960 level last hit on April 5.
The chart shows that one of the triggers for today’s price rally was the breakout generated by the Relative Strength Index (RSI).
At the time of writing, price strength has crossed the 61.00 ceiling and is at 62.87
The 65.00 barrier could be a hurdle for current bulls. However, once this is overcome, there is a good chance that DOGE will return above $0.1000.
Avalanche (AVAX)
In addition to DOGE, avalanche (AVAX), was also a notable gainer in the market earlier in the week.
AVAX/USD rallied to an intraday high of $21.011 on Monday after hitting a low of $19.04 in the Sunday session.
As a result of Monday’s price surge, the Avalanche hit its highest level since February 22.
As a result, the token briefly broke through the $20.90 resistance point, but the upside has since narrowed.
Momentum seems to have shorted as the RSI hit the 73.00 ceiling.
It is currently tracking at 73.17, but the earlier bullish group seems to have paused and is moving to take profits.
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