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Massive Movers, BNB rallies to a 5 Month High on Monday


The token increased, adding to recent advances and reaching its highest position since mid-May. During today's session, Avalanche also made gains and reached a six-week high.



01-Nov-2022 By: Shikha Jha
Massive Movers, BNB

On Monday, Binance coin reached a five-month high as the price 

Of cryptocurrencies increased.

The token increased, adding to recent advances and reaching its highest position since mid-May. During today's session, Avalanche also made gains and reached a six-week high.

The Binance Coin (BNB)

As cryptocurrency markets soared on Monday, Binance coin (BNB) increased to a five-month high to start the week. Less than a day after trading at a low of $307.37, BNB/USD reached a peak of $336.52 earlier today.

With Monday's price increase, the cryptocurrency has reached its highest level since May 9, when it was trading at $359 per coin.

With prices rising for a fourth straight day, BNB has now broadly extended its recent bull run.

Binance's native token is still intact despite recent attacks on a blockchain connected to it; it has increased by as much as $100 in the previous ten days.

This has caused the 14-day relative strength index (RSI) to increase to overbought levels and is currently tracking at its highest level since last April.

Avalanche (AVAX)

Avalanche (AVAX), which rebounded after a tumultuous weekend, was another significant mover in today's session. After hitting a low of $17.96 yesterday, AVAX/USD was able to soar to a high of $19.71 on Monday.

During today's movement, the token broke over recent barrier at $18.50, reaching its highest level since mid-September.

The RSI for AVAX is currently tracking at 68.49, which is just below a ceiling of 70.00, according to the chart. The index hasn't been this strong since early August, and this will probably be the main barrier keeping the token from making further gains.

Bulls must first make sure that the RSI crosses well past this impending obstacle in order for the price to climb above $20.00.


Will this upside move be sustained in long run?

WHAT'S YOUR OPINION?
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