Shiba Inu And Avalanche Emerge As Top Gainers In Latest Trading Sessions

With the cryptocurrency industry setting foot into the second month of the year, things have started to become a bit certain about crypto.

The month of January was full of gains and profits for cryptocurrencies and investors alike. The entire month was bullish and things looked promising for the entire crypto sector.

As the second month of the year began, things started to move in the other direction. The situation is now different from the month of January.

It seems that most of the buyers have lost their buying power and they are losing their steam. As a result, the trends for most cryptocurrencies are fluctuating.

Despite the dwindling situation, some cryptocurrencies have performed well. They have become the top choice amongst investors, which is why they are being referred to as the top gainers.

While most of the cryptocurrencies are struggling to keep their heads high, Shiba Inu (SHIB) and Avalanche (AVAX) have demonstrated very strong performance.

Shiba Inu

The trading price of Shiba Inu is still moving in the bullish territory and it is sustaining pressure from the bears. The trading price of the meme coin is still floating close to the recent high levels.

While the entire cryptocurrency market is experiencing a downtrend and a decline in prices, Shiba Inu has performed well.

As of today, the trading price of the second-largest cryptocurrency is at a high of $0.0000148 per SHIB. Prior to the strong push, the trading price of the asset was at a low of $0.0000141.

The price chart shows that it was on Sunday when the price of SHIB was at a low level.

On Saturday, the trading price of the asset hit a high note. Shiba Inu was able to make a huge difference for investors on Saturday when it reached a peak price of $0.0000159.

Just as the trading price of SHIB hit the peak price on Saturday, the bears started to sell the meme coin to secure profits.

They wanted to increase their gains and for that purpose, they kept pumping SHIB’s price higher. As the meme coin became highly bullish, they sold the tokens to generate profits.

Due to the selling activity of the investors, Shiba Inu’s trading price has experienced a downtrend.

SHIB’s RSI is currently being tracked at 77.02 and it recently managed to break out from the floor level of 75.00. It is a good sign that the trading price of the asset may continue surging in near future.

The ceiling for RSI is now at 80.00 and the bulls may increase their buying power to push it higher. If they are able to make it happen, then SHIB’s trading price may surge to higher levels.

Avalanche

On the other end, the trading price of Avalanche was in the red zone as the new week began. With the initiation of the week, the trading price of the asset had fallen to a seven-day low.

The value of Avalanche witnessed a downtrend on Sunday. Its price kept traveling in the lower stream and went to a low of $19.74.

Before the sellers took control of the trend, the trading price of Avalanche was at a high of $20.43. Since the beginning of the week, the price of the asset had continued declining.

The price chart shows that the trading price of the asset kept declining for three days straight. It happened just as the bulls tried to push AVAX’s trading price over the resistance level, which is $22.00.

It was on Friday when the trading price of the asset started to decline and it failed to break out from the particular level.

For now, the RSI for AVAX is at 59.86 and it is moving higher. The bulls are trying to make a comeback with the momentous purchasing of AVAX. If things work out, then the RSI will push through the 60.00 level.

This would eventually push the trading price of the asset to a higher level.