{"id":16391,"date":"2023-01-12T18:52:53","date_gmt":"2023-01-12T18:52:53","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/avax-22-higher-as-dot-nears-1-month-high-market-updates-bitcoin-news\/"},"modified":"2023-01-12T18:52:53","modified_gmt":"2023-01-12T18:52:53","slug":"avax-22-higher-as-dot-nears-1-month-high-market-updates-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/avax-22-higher-as-dot-nears-1-month-high-market-updates-bitcoin-news\/","title":{"rendered":"AVAX 22% Higher, as DOT Nears 1-Month High \u2013 Market Updates Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Avalanche was one of Thursday\u2019s big gainers, as the token rose by as much as 22% in today\u2019s session. The move came as inflation in the United States fell to 6.5% as markets were expecting. Polkadot was another notable mover, with prices climbing close to a four-week high. <\/strong><\/p>\n

Avalanche (AVAX)<\/h2>\n

Avalanche (AVAX) rose by as much as 22% in today\u2019s session, as cryptocurrencies reacted to the latest U.S. inflation report.<\/p>\n

AVAX\/USD moved to a peak of $16.11 earlier in the day, which comes less than 24 hours after falling to a bottom of $12.41.<\/p>\n

Thursday\u2019s spike in price pushed avalanche to its highest point since November 8, when price was at a peak of $18.15.<\/p>\n

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AVAX\/USD \u2013 Daily Chart<\/figcaption><\/figure>\n

Looking at the chart, earlier gains have somewhat eased, with AVAX now trading at $15.18.<\/p>\n

This came as the 14-day relative strength index (RSI) failed to break out from a resistance at the 80.00 level.<\/p>\n

As of writing, the index is now tracking at 69.94, which is still deep in overbought territory.<\/p>\n

Polkadot (DOT)<\/h2>\n

Polkadot (DOT), was another big gainer in today\u2019s session, with prices moving closer towards a four-week high.<\/p>\n

Following a low of $4.84, DOT\/USD managed to reach an intraday high of $5.16 earlier on Thursday.<\/p>\n

As a result of this move, DOT broke out of a key resistance level of $5.15, hitting its strongest point since December 16 in the process.<\/p>\n

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DOT\/USD \u2013 Daily Chart<\/figcaption><\/figure>\n

As can be seen from the chart, the 14-day RSI has failed to move beyond its long-term ceiling of 68.00, and has since slipped lower.<\/p>\n

Price strength is now tracking at 63.10, with DOT declining from its earlier peak, and the asset is trading at $5.09.<\/p>\n

In order for the token to continue to move higher, there will first need to be a rally above its 68.00 point on the RSI.<\/p>\n

Register your email here to get weekly price analysis updates sent to your inbox:<\/em><\/p>\n

Will we see a reversal in polkadot now that price is overbought? Let us know your thoughts in the comments.<\/strong><\/em><\/p>\n

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\nEliman Dambell <\/h6>\n

\nEliman brings an eclectic point of view to market analysis. He was previously a brokerage director and online trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX, whilst also a startup founder.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons, David Esser \/ Shutterstock.com<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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