On Saturday, Solana experienced further gains, marking its third consecutive session of growth to kick off the weekend. This upward movement was driven by a breakthrough of a significant price level, even as the global cryptocurrency market cap remained relatively stable. Additionally, Avalanche saw a notable rally, with its value climbing by as much as 10%.
Solana (SOL) continued to be a standout performer in the cryptocurrency market, extending its winning streak for the third consecutive day and reaching its highest level in eight weeks.
After hitting a low of $20.19 on Friday, SOL/USD surged to a peak of $22.40 during the day, initiating the weekend on a positive note.
This surge allowed Solana to surpass the $22.00 mark, breaching a resistance level it had not surpassed since May 6.
SOL/USD – Daily Chart
As of the time of writing, the index sits at 70.70, with the next visible point of resistance at 75.00.
Avalanche (AVAX) also experienced significant gains on Saturday, with its value increasing by nearly 10% during the session.
AVAX/USD reached a high of $13.85 earlier in the day, bouncing back from a low of $12.60 recorded the previous day.
This surge propelled Avalanche to its highest level since June 9, following the breakthrough of a resistance level at $13.50.
AVAX/USD – Daily Chart
One catalyst for this rally was the 14-day RSI surpassing its resistance level at 57.00.
Currently, the index stands at 58.73 and appears to be making progress towards a higher resistance level at 62.00.
Frequently Asked Questions (FAQs) about crypto market rally
Q: What were the key highlights of Solana and Avalanche in the recent crypto market movement?
More about crypto market rally
- Solana official website: Solana
- Avalanche official website: Avalanche
- Crypto market analysis: CoinMarketCap
- Technical analysis resources: Investopedia – Technical Analysis