AVAX rebounds on Tuesday, as AAVE rallies by over 10%.
Both of these cryptocurrencies rebounded from losses during yesterday’s session, with AAVE trading as much 10% higher.AAVE rebounded during Tuesday’s trading session, as bulls returned to action after a recent three-day winning streak was snapped yesterday.
Today’s move pushed prices away from the long-term support level of $80, and they now hover marginally below a resistance point of $94.Bulls in AAVE seem to be targeting the $100 level, however we will likely not see a move towards this point unless the current ceiling on the RSI is broken. Overall, although prices are currently oversold, both the short and mid-term moving averages show that momentum is still bearish.Similar to AAVE, AVAX saw its price climb higher on Tuesday, after a brief stint in the red to start the trading week.
As a result of today’s move, AVAX is now trading marginally below a resistance level of $37.30, which appears to be the point bulls are targeting.Overall, relative strength on the current chart shows that prices are still oversold, and tracking near multi-month lows.
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