Sunday, July 21, 2024

Top Gainers: DOGE Surges to a 2-Month High, AVAX Rebounds on Tuesday

Dogecoin experienced a notable surge for the third consecutive session on Tuesday, as the market buzzes with speculation about the meme coin’s role on the newly rebranded X platform. This surge propelled Dogecoin to its highest price level since early May. Meanwhile, Avalanche (AVAX) also made a significant recovery today after facing recent losses.

Dogecoin (DOGE)

DOGE climbed to a fresh multi-month high on Tuesday, reacting to Twitter’s rebranding as X.

Starting the week with a low of $0.07353, DOGE/USD spiked to $0.07811 during today’s session.

This impressive rally brought the meme coin to its strongest point since May 6, when the price was last above $0.08000.

The breakout of the 63.00 zone on the relative strength index (RSI) triggered this latest rally, with the current index tracking at 66.66 and likely heading towards 70.00.

If the destination of 70.00 is reached, there’s a good chance that DOGE will return to $0.08000.

Avalanche (AVAX)

Avalanche (AVAX) also made a comeback in today’s session after facing a decline on Monday.

AVAX/USD reached a high of $13.38 earlier in the day, bouncing back from a low of $12.92 at the beginning of the week.

The token approached a critical support level at $12.90, but bulls prevented a breakout this time.

Despite the rebound, the momentum remains bearish, with the 10-day (red) moving average approaching a potential downwards crossover with its 25-day (blue) counterpart.

Currently, the price strength is holding steady at a support point of 44.00, with the current reading at 47.28.

Speculations for Avalanche (AVAX) at the End of July

As the end of July approaches, the question arises: Will Avalanche (AVAX) end its trading above $14.00? Share your thoughts in the comments below.

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Frequently Asked Questions (FAQs) about cryptocurrency

Question: What caused Dogecoin’s rise on Tuesday?

Answer: Dogecoin experienced a surge on Tuesday due to ongoing market speculation about its role on the newly rebranded X platform. This speculative interest contributed to the price climbing to its highest level since early May.

Question: What was Dogecoin’s highest price during the surge?

Answer: During the surge on Tuesday, Dogecoin (DOGE) reached its peak price at $0.07811.

Question: What triggered the latest rally for Dogecoin?

Answer: The latest rally for Dogecoin was triggered by a breakout of the 63.00 zone on the relative strength index (RSI).

Question: When was the last time Dogecoin’s price was above $0.08000?

Answer: The last time Dogecoin’s price was above $0.08000 was on May 6.

Question: What factors contributed to Avalanche’s rebound on Tuesday?

Answer: Avalanche (AVAX) rebounded on Tuesday from recent losses, with the token reaching a high of $13.38 during the day. The rebound was likely supported by bulls defending a breakout near the key support level at $12.90.

Question: Is the momentum for Avalanche (AVAX) currently bearish or bullish?

Answer: Despite the rebound, the momentum for Avalanche (AVAX) remains bearish, as the 10-day moving average is approaching a potential downwards crossover with the 25-day moving average.

Question: What are the focus keywords for this text?

Answer: The focus keywords for this text are “Dogecoin,” “AVAX,” and “cryptocurrency.”

Question: Will Avalanche (AVAX) end July trading above $14.00?

Answer: The text does not provide a definitive answer to this question. The end-of-July trading price for Avalanche (AVAX) remains uncertain, and readers are encouraged to share their thoughts and opinions in the comments section.

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