Dogecoin rose for a third consecutive session on Tuesday, as markets continue to speculate what role the meme coin could play on the newly rebranded X platform. The latest surge took the price to its highest level since early May. Avalanche was another notable gainer today, rebounding from recent losses.
Biggest Movers: DOGE Surges to Fresh 2-Month High, AVAX Rebounds on Tuesday
This article was published more than a year ago. Some information may no longer be current.
WRITTEN BY
SHARE
Dogecoin (DOGE)
Dogecoin (DOGE) climbed to a fresh multi-month high on Tuesday, as traders continued to react to Twitterâs rebrand to X.
Following a low of $0.07353 to start the week, DOGE/USD spiked to a peak of $0.07811 earlier in todayâs session.
This resulted in the meme coin climbing to its strongest point since May 6, which is the last time price was above $0.08000.
Honing in on the chart, it can be seen that a breakout of the 63.00 zone on the relative strength index ( RSI) triggered this latest rally.
As of writing, the index is tracking at 66.66, and looks set to be heading for a ceiling at 70.00.
In the event this destination is reached, there is a good chance that DOGE will be back at $0.08000.
Avalanche (AVAX)
Additionally, avalanche (AVAX) was back in the green during todayâs session, after rebounding from Mondayâs decline.
AVAX/USD ascended to a high of $13.38 earlier in the day, a day after slipping to a bottom at $12.92 to start the week.
The move came as the token closed in on a key support level at $12.90, however bulls rejected a breakout on this occasion.
Price strength also held firm at a support point of 44.00, before rising to a current reading at 47.28.
Despite this, momentum remains bearish, with the 10-day (red) moving average nearing a downwards crossover with its 25-day (blue) counterpart.
Register your email here to get weekly price analysis updates sent to your inbox:
Will avalanche end July trading above $14.00? Let us know your thoughts in the comments.
