Fun

Biggest Movers: AVAX Rebounds on Tuesday, AAVE up Over 10%

News Feed - 2022-05-18 01:05:22

Biggest Movers: AVAX Rebounds on Tuesday, AAVE up Over 10%


Global crypto markets are up over 2% during Tuesday’s session, with AAVE and AVAX two of the biggest tokens to rise. Both of these cryptocurrencies rebounded from losses during yesterday’s session, with AAVE trading as much 10% higher. Aave (AAVE)


AAVE rebounded during Tuesday’s trading session, as bulls returned to action after a recent three-day winning streak was snapped yesterday.


Following a low of $82.02 to start the week, AAVE/USD rallied by as much as 10% today, hitting a peak of $92.16 in the process.


Today’s move pushed prices away from the long-term support level of $80, and they now hover marginally below a resistance point of $94. AAVE/USD – Daily Chart


Bulls in AAVE seem to be targeting the $100 level, however we will likely not see a move towards this point unless the current ceiling on the RSI is broken.


Looking at the chart, the 14-day Relative Strength Index is tracking below a resistance of 36.30, which is the highest point the indicator has hit in the past ten days.


Overall, although prices are currently oversold, both the short and mid-term moving averages show that momentum is still bearish.


Avalanche (AVAX)


Similar to AAVE, AVAX saw its price climb higher on Tuesday, after a brief stint in the red to start the trading week.


AVAX/USD rose to a peak of $35.47 earlier in the day, which comes following a low of $32.22 during Monday’s session.


As a result of today’s move, AVAX is now trading marginally below a resistance level of $37.30, which appears to be the point bulls are targeting. AVAX/USD – Daily Chart


Overall, relative strength on the current chart shows that prices are still oversold, and tracking near multi-month lows.


Looking at the chart, there is an upcoming resistance level at 32, which will test this recent bullish sentiment, which has seen prices climb for four of the last five sessions.


Should bullish strength continue to increase, we will likely see prices move towards $40 in upcoming sessions. Tags in this story Aave, Analysis, Avalanche, AVAX


What level do you expect to see AVAX at to end the week? Let us know your thoughts in the comments. Eliman Dambell


Eliman brings a eclectic point of view to market analysis, having worked as a brokerage director, retail trading educator, and market commentator in Crypto, Stocks and FX. Bitcoin, Ethereum Technical Analysis: ETH Remains Above $2,000, While BTC Recaptures $30K Level MARKET UPDATES | 10 hours ago Biggest Movers: XMR and SOL Higher on Monday MARKET UPDATES | 1 day ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleIndia’s Central Bank RBI Warns Crypto Could Lead to Dollarization of Economy Next articleL1 Ethereum Network Fees Drop to Levels Not Seen in Over 2 Months, L2 Fees Follow Disclaimer: 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 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. Read disclaimerShow comments More Popular NewsIn Case You Missed ItArgentinian Securities Regulator Launches Innovation Hub to Discuss Regulated Crypto Investments


The National Securities Commission (CNV), which is the Argentinian securities watchdog, recently launched an innovation hub with the goal of advancing conversations about cryptocurrency and fintech investments. This organization will serve as a link between private entities and the institution, ... read more.Goldman Predicts US Recession Odds at 35% in 2 Years, John Mauldin Wouldn"t Be Surprised if Stocks Fell 40% Australia to List Bitcoin ETF After 4 Clearinghouse Participants Commit to Meet Stringent Margin Terms Economist Predicts the Fed"s Response to Inflation Will Push Crypto Higher Terra"s Algorithmic Dollar-Pegged Crypto UST Is Now the Third-Largest Stablecoin

News Feed

Ezra Reguerra14 hours agoCZ departure, Binance deal lead to purge of $175M of crypto longsData aggregator DefiLlama showed that Binance’s crypto asset inflows have fallen by over $1 billion in the last 24 hours.1573 To
Ethereum Metrics Reveal Critical Support Level – Can Buyers Step In?
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Federal Investigators Probe Silicon Valley Bank Collapse; SVB and Top Execs Sued by Shareholders
Federal Investigators Probe Silicon Valley Bank Collapse; SVB and Top Execs Sued by Shareholders The parent company of Silicon Valley Bank, SVB Financial Group, and two senior exec
Virtual Assets Unleashes Retail Cash Reload Innovation for Purchasing Cryptocurrency
Virtual Assets Unleashes Retail Cash Reload Innovation for Purchasing CryptocurrencyInstantly add cash to your Crypto Dispensers account with Green Dot @ the Register
Banco Galicia Becomes First Bank to Introduce Crypto Trading in Argentina
Banco Galicia Becomes First Bank to Introduce Crypto Trading in Argentina Banco Galicia, one of the largest financial institutions in Argentina, has introduced cryptocurrency tradi
Noise.cash: Social Microblogging App Fueled by Bitcoin Cash Tips Gathers Traction
Noise.cash: Social Microblogging App Fueled by Bitcoin Cash Tips Gathers Traction For quite some time now, bitcoin cash users have been leveraging the web portal
Financial Report Shows Bit Digital Is Transferring 14,500 Bitcoin Miners From China to the US
Financial Report Shows Bit Digital Is Transferring 14,500 Bitcoin Miners From China to the US Following the bitcoin mining crackdown in China, the Nasdaq-listed
USDC Sees Native Launch on Avalanche
USDC Sees Native Launch on Avalanche USDC, the second leading stablecoin by market cap, has been launched on the Avalanche blockchain as a native token. Previously, users wanting t
US gov’t moved $922 million of seized Bitcoin after BTC price broke $60,000
Zoltan Vardai13 hours agoUS gov’t moved $922 million of seized Bitcoin after BTC price broke $60,000The government’s transfer occurred the same day Bitcoin breached the $60,000 mark for the first time in over two yea
Ex-Official Trolls Libra, Says China Likely to Issue Digital Currency First
A former high-ranking Congressional official said China’s central bank is likely to be the first to issue its own national digital currency, as he contended that Libra was doomed to fail.
Controversial Ukrainian Oligarch Is Reportedly Mining Bitcoin in the US
Controversial Ukrainian Oligarch Is Reportedly Mining Bitcoin in the US One of the wealthiest oligarchs in Ukraine and a former governor in one of the country&rs
Bank of Russia Registers Another Digital Asset Issuer
Bank of Russia Registers Another Digital Asset Issuer The Central Bank of Russia has added another entity to its register of authorized issuers of digital financial assets. The pla