The cryptocurrency industry is back with bullish actions after recent retracements. Indeed, this month has been volatile for most digital coins.
Bitcoin gained nearly 6% at this publication to trade beyond the $48,000 mark. Alternative coins reflected the upward move by BTC. The global market capitalization gained 4.7% to stand at $2.37 trillion. Avalanche, FTX Token, and MATIC are among the alts that surged today, gaining up to 9%.
AVAX/USD 4Hr Chart
Avalanche (AVAX) saw its price soaring multiple times over the week. Bulls stepped up for another push in the past 24 hours, triggering a 10.2% gain. While publishing this article, AVAX traded at $118.22.
Meanwhile, Avalanche has had a whopping 50% ROI over the past week. That chart indicates that the alt maintain well beyond the massive support at $74.17.
AVAX’s immediate resistance sat at $136.24, while the support floor was $109.84. The RSI retouched overbought level as Avalanche overvalued while publishing this news.
Also, the DMI showed lessened selling momentum as the +DI crossed above the –DI. MACD favored bulls while displaying green sign bars. Pullback chances still exist for the crypto, depending on overall market sentiments.
MATIC/USD 4Hr Chart
MATIC flashes quite dynamic price movements over the month as Polygon plunged and propelled after several trials. At this publication, MATIC exchanged hands near $2.29.
Meanwhile, the overhead resistance stands around $2.70, and a dip under the current price zone might see MATIC trading around the closest price floor at $2.06. The bullish reactions had buyers exceeding sellers as MATIC saw an ROI of 30% within last week.
The RSI headed to the overbought region as buyers rejoined the market. Also, that had indicators favoring bulls. The DMI confirmed the surged bullish strength as OBV flashed magnified buying pressure.
FTT/USD 4Hr Chart
FTT saw an upward break after hovering inside a descending channel for more than one week. The previous day’s actions saw the crypto soaring more than 9%. Nevertheless, FTT flashed another 6.7% surge at press time, trading near $42.02.
Increased bullish strength might push the FTX token towards $46.79. Meanwhile, the alt trade beyond the 20-Simple Moving Average, confirming buyers’ control. The RSI hit the overbought region after nearly a month.
Moreover, the upcoming sessions might see pullbacks. Chaikin Money Flow indicated more inflows than outflow. However, the indicator displayed a downtick, showing possible capital inflows dip.