Biggest Movers: AVAX, RUNE up Over 10%, as CAKE Surges 20% on Thursday

AVAX was erstwhile again higher connected Thursday, rising for its 4th consecutive session, arsenic it further cements itself successful the crypto apical ten. Although RUNE was besides trading by arsenic overmuch arsenic 15% higher, it was CAKE that led Thursday’s gainers.

Pancakeswap (CAKE)

Pancakeswap (CAKE) roseate to its highest level successful astir 4 weeks connected Thursday, arsenic it moved distant from its caller lows.

Following a bottommost of $5.37 connected Wednesday, which was adjacent to a one-year low, CAKE/USD climbed by arsenic overmuch arsenic 21% today.

CAKE rallied to an intraday precocious of $7.19 successful Thursday’s session, which is its highest level since February 21.

CAKE/USD – Daily Chart

This precocious came arsenic terms spot besides gained, blowing past its caller ceiling connected the 14-day RSI indicator successful the process.

Since passing the absorption of 42, the RSI is present tacking astatine 50.65, which is marginally supra different ceiling astatine 49.15.

Should this momentum continue, we could spot CAKE tracking astatine $8.35.

Avalanche (AVAX)

Avalanche (AVAX) further cemented its spot arsenic the world’s tenth-largest cryptocurrency connected Thursday, arsenic it roseate by arsenic overmuch arsenic 15% connected the day.

As of penning this, AVAX/USD rallied for a 4th consecutive league today, rising to a precocious of $81.48 successful the process.

This follows a highest of $73.83 connected Wednesday, and brings the seven-day mean summation to 10.35%, contempt caller bearish marketplace sentiment.

AVAX/USD – Daily Chart

Looking astatine the chart, the 10-day moving mean continues to attack the 25-day, which is mounting the country for a imaginable upward cross.

One of the lone disposable hurdles is the information that we are presently trading adjacent to the absorption level of 56 connected the 14-day RSI.

Will existent momentum beryllium capable to instrumentality AVAX beyond this point? Let america cognize your thoughts successful the comments.

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