Biggest Movers: BNB Rallies to 5-Month High on Monday 
Binance coin rose to a five-month high on Monday, as cryptocurrency prices continued to trade higher. The token rose to its highest point since mid-May, extending recent gains in the process. Avalanche was also in the green, climbing to a six-week high during today’s session.
Binance Coin (BNB)
Binance coin (BNB) rose to a five-month high to start the week, as cryptocurrency markets surged on Monday.
BNB/USD moved to a peak of $336.52 earlier today, which comes less than a day after trading at a low of $307.37.
Monday’s rise in price sees the token hit its highest point since May 9, when the coin was trading at $359.
BNB/USD – Daily Chart
Overall, BNB has now extended its recent bull run, with prices moving higher for a fourth consecutive day.
Despite recent hacks on a blockchain linked to Binance, its native token remains unscathed, and has now risen by as much as $100 in the last ten days.
As a result of this, the 14-day relative strength index (RSI) has risen to overbought territory, and is now tracking at its highest point since last April.
Avalanche (AVAX)
Another notable mover in today’s session was avalanche (AVAX), which rebounded following a volatile weekend.
Following yesterday’s low of $17.96, AVAX/USD was able to climb to a high of $19.71 on Monday.
Today’s move came as the token moved above its recent resistance of $18.50, hitting its highest point since mid-September in the process.
AVAX/USD – Daily Chart
Looking at the chart, the RSI for AVAX is currently tracking at 68.49, which is slightly under a ceiling of 70.00.
This is the strongest point the index has reached since early August, and will likely be the biggest obstacle preventing the token from further surges.
In order to move above $20.00, bulls will need to first ensure that the RSI moves well past this upcoming wall.
Register your email here to get weekly price analysis updates sent to your inbox: Tags in this story Analysis, Avalanceh, Avalanche, AVAX, binance coin, bnb, Cryptocurrency
Could we see avalanche hit $20.00 ahead of Wednesday’s FOMC meeting? Let us know your thoughts in the comments.
Eliman Dambell
Bitcoin, Ethereum Technical Analysis: ETH Above $1,600 as Markets Begin to Anticipate Fed Rate Decision MARKET UPDATES | 9 hours ago 
Biggest Movers: SHIB 20% Higher, as DOGE Hits 5-Month High MARKET UPDATES | 2 days ago
Image Credits: Shutterstock, Pixabay, Wiki Commons
Previous article
pax․world: A Token Must Be an Economic Bedrock Not a Collectable Gimmick for the Metaverse to Thrive
Next article
3 Bitcoin Mining Records Set in October — BTC Hash Price Taps Lifetime Low, While Hashrate and Difficulty Surged
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 News
In Case You Missed It
Bitcoin ATM Operator Indicted in New York Allegedly Running Illegal Business Attracting Criminals
A bitcoin ATM operator has been indicted in New York for running an illegal business “marketed towards individuals engaged in criminal activity.” The district attorney in charge described: “Robert Taylor allegedly went to great lengths to keep his bitcoin kiosk … read more.
Bill ‘On Digital Currency’ Caps Crypto Investments for Russians, Opens Door for Payments Digital Ruble ‘Much Needed,’ Russia’s Central Bank Says, Won’t Delay Testing Ethereum Foundation’s Financial Report Discloses It Holds $1.6 Billion in Assets, 80.5% Held in Ether Terra’s Algorithmic Dollar-Pegged Crypto UST Is Now the Third-Largest Stablecoin