Biggest Movers: AVAX Hits 1-Week High, as LTC Also Climbs Following US Inflation Data

Avalanche roseate to a one-week precocious connected Tuesday, arsenic markets reacted to the latest ostentation study successful the United States. Consumer prices roseate to 7.1% successful November, which was little than the 7.3% markets had expected. The fig was besides 0.6% little than October’s speechmaking of 7.7%. Litecoin besides rebounded connected the data, rising by implicit 6%.

Avalanche (AVAX)

Avalanche (AVAX) was a notable gainer connected Tuesday, arsenic prices surged pursuing the merchandise of U.S. ostentation figures.

November’s user terms scale (CPI) came successful astatine 7.1%, which was little than the 7.3% traders were expecting.

As a result, AVAX/USD rallied to an intraday precocious of $14.09, which saw prices up by astir 10%.

AVAX/USD – Daily Chart

Today’s emergence saw avalanche deed its strongest constituent since December 5, which was the past clip the token was trading supra its ceiling astatine $13.75.

The 14-day comparative spot scale (RSI) besides rose, breaking retired of a absorption constituent of 51.50 successful the process.

Gains successful AVAX person eased from earlier highs, and arsenic of penning the token is trading astatine $13.94.

Litecoin (LTC)

Litecoin (LTC) besides roseate successful today’s session, with the token rebounding from its losses to commencement the week.

Following a driblet to $73.52, which was the lowest level LTC/USD had deed since November 29, the token raced to a precocious of $79.52 earlier today.

This surge successful terms sent litecoin to its strongest constituent since December 7, which is the past clip terms was supra $80.00.

LTC/USD – Daily Chart

Looking astatine the chart, today’s bullish momentum comes arsenic the RSI bounced from a level of 55.50, and it is present nearing a ceiling of 61.50.

This determination has besides sent the 10-day (red) moving mean higher, a time aft it appeared to beryllium surely heading for a downwards trend.

What happens connected Wednesday with the U.S. Federal Reserve volition present dictate however cryptocurrency prices volition determination during the run-up to the Christmas period.

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Could we spot further surges successful avalanche pursuing tomorrow’s Fed meeting? Let america cognize your thoughts successful the comments.

Image Credits: Shutterstock, Pixabay, Wiki Commons, Dennis Diatel / Shutterstock.com

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