- Solana (SOL) saw a significant surge on Monday, climbing to its highest price level since November 2021 and moving above $3500.
- Avalanche (AVAX) also saw a 5%+ surge on Monday, hitting a peak of $1160 which is its strongest level since October 7th.
- The gains for SOL and AVAX come as the overall crypto market rallies following a period of consolidation, with bullish sentiment continuing.
Solana saw a significant surge on Monday, climbing to its highest price level since November 2021. The gains come as the overall crypto market rallies following a period of consolidation.
Solana’s Impressive Single-Day Surge
Solana (SOL) was one of the top performers on Monday as the token moved above the $35.00 level. After dropping to $32.29 on Sunday, SOL/USD rose to an intraday high of $35.17 to start the new week. This is the highest price SOL has reached since November 6th last year when it was trading above $37.00.
The surge comes as SOL’s relative strength index (RSI) broke above resistance at 74 and now sits at 77.33. SOL remains above $35.00 at the time of writing, but some profit-taking could occur in the coming days.
Avalanche Also Edges Higher
In addition to Solana’s gains, Avalanche (AVAX) saw a significant 5%+ surge on Monday. AVAX/USD hit a peak of $11.60, coming less than 24 hours after bottoming out around $10.92. This marks avalanche’s strongest level since October 7th when it last moved above $11.70.
Earlier gains have faded slightly with AVAX now at $11.57. This comes as its RSI hit resistance at 70. Price strength for AVAX is currently 69.40, but bulls will likely aim to break above 70 in the coming sessions.
Conclusion
Solana led the market higher to start the week, showcasing its strength as sentiment improves across the crypto sector. Avalanche also saw notable gains as its price reclaimed the $1150 level. Further momentum could be ahead for both SOL and AVAX if bullish sentiment continues.
