Meme Coinlawine is increasing on Tuesday - market tactualizations

Meme coins were higher on Tuesday when the global cryptocurrency market recovered from the recent price declines. Both Doge and Shib were almost 7 % higher during the session. In addition to the Meme Coins, there were several other winners on Tuesday, as both traders and long-term investors bought the crypto dip.

biggest winner

one of today's biggest winners of today in the crypto top 20 War Avalanche (Avax), which increased by up to 15 % during the session. Avax reached an intra-raday high of $ 68.03 on Tuesday, climbing from yesterday's low of $ 59.59.

today's rally comes 3 days after the courses have been held for a short time under the support of $ 59.70 and have fallen to a low of $ 53.47 at the weekend.

This wrong outbreak caused prices to reach their lowest level since October 18 before recovering a current all-time high (ATH) of just over $ 146.00.

If you look at the diagram below, the trend line shows that due to the continuously higher maximum stalls in the price movement, there has been a long-term purchase pressure, which is evident from the rising triangle.

This dynamic was stopped by the recent shortest declining pressure that led to the descending triangle that led to the latest outbreak.

Since this outbreak, the prices have found a preliminary soil by $ 59, and this inspired the imagination of the bulls that bought in the same range in October.

could the story with a similar rally repeat itself at this current level?

biggest loser

in the top 20 not everything was rosy, since some cryptos were still traded in the minus despite today's price recreation.

Terra (Luna) was one of the few cryptocurrencies in this list, which was traded lower during the rally on Tuesday, as the bears decided to stay active in this market.

The Luna Prize fell to an intraday low of $ 62.88 during the session and had fallen by a little more than 1 % at the time of writing this article.

If you look at the diagram, this Luna has been in a series of lower lows in the past few weeks, which led to an outbreak over its floor of $ 59 last week.

Since then, its price has continued to consolidate at this level, with the RSI staying closer to the oversized area.

Is Terra (Luna) currently undervalued? What do you think about the Meme Coin market action? Share your opinion in the comment area below with.

Eliman Damell

Eliman brings a diversified view of the market analysis after working as a broker director, trainer in retail and market commentator in the areas of crypto, stocks and foreign exchange.

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