The Binance coin hit a five-month high on Monday, as crypto-currency prices continued to trade higher. The token hit its highest point since mid-May, extending recent gains in the process. Avalanche was also in the green, climbing to a six-week high during today’s session.
The BNB hit a five-month high to start the week, as crypto-currency markets surged on Monday. Binance Coin hit a high of $336.52 earlier today, less than a day after hitting a low of $307.37.
Monday’s price increase helped the token reach its highest point since May 9, when the coin was trading at $359.
Overall, BNB extended its recent bull run, with prices rising for a fourth consecutive day. Despite recent hacks on a Binance-linked blockchain, its native token remains unscathed, and has now risen by as much as $100 in the past 10 days.
As a result, the 14-day Relative Strength Index (RSI) has moved into overbought territory, reaching its highest point since last April.
Another notable move in today’s session was Avalanche (AVAX), which bounced back after a volatile weekend. After yesterday’s low of $17.96, AVAX was able to reach a high of $19.71 on Monday.
Today’s move came as the token broke above its recent resistance of $18.50, reaching its highest point since mid-September.
Looking at the chart, AVAX’s RSI is currently at 68.49, which is slightly below a ceiling of 70.00. This is the strongest point the index has reached since the beginning of August, and will likely be the biggest hurdle preventing the token from continuing its advance.
In order to get above $20.00, bulls will first need to ensure that the RSI breaks well above this next wall.