Solana surged to near a one-year high to start the week, as bulls pushed the cryptocurrency above the $35.00 level. Today’s surge comes as the global crypto market cap rallied, following a recent bout of consolidation. Avalanche also edged higher, surging by 5% today.
Solana (SOL)
Solana (SOL) was one of the notable gainers in the market on Monday, as the token climbed above the $35.00 mark.
Following a low of $32.29 on Sunday, SOL/USD rose to an intraday high at $35.17 to start the week.
This is the highest level the cryptocurrency has hit since November 6 last year, when the price was trading above $37.00.
Solana was one of the biggest tokens to fall following the FTX fraud scandal, however price has made steady gains since then.
Today’s surge comes as the relative strength index (RSI) rallied above a ceiling at 74.00, and now sits at 77.33.
SOL remains above $35.00 as of writing, however, bulls could begin taking profits in the coming days.
Avalanche (AVAX)
Avalanche (AVAX) made sizable gains to start the week, moving by as much as 6% higher during the day.
AVAX/USD peaked at $11.60 on Monday, which comes less than 24 hours after falling to a bottom at $10.92.
This has resulted in avalanche rising to its strongest point since October 7, when price last surpassed a ceiling at $11.70.
Earlier gains have marginally faded, with AVAX now sitting at $11.57, and this comes as the RSI hit a ceiling at 70.00.
Price strength is now hovering at 69.40, however bulls will likely look to break this mark, and force a move above 70.00 in the coming days.
Register your email here to get weekly price analysis updates sent to your inbox:
Could avalanche reach $12.00 in November? Let us know your thoughts in the comments.
