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.
Dogecoin (DOGE)
Dogecoin (DOGE) climbed to a fresh multi-month high on Tuesday, as traders continued to react to Twitter’s rebrand to X.
Following a low of $0.07353 to start the week, DOGE/USD spiked to a peak of $0.07811 earlier in today’s 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 today’s session, after rebounding from Monday’s 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.
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Will avalanche end July trading above $14.00? Let us know your thoughts in the comments.
via Eliman Dambell
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