U.S. inflation figures released on Tuesday pushed the stock market to a new one-week high. Consumer Prices in November were recorded at 7.1%, below the 7.3% forecast by analysts. The data also propelled a surge in both Avalanche (AVAX) and Litecoin (LTC) prices.
Following the announcement of the inflation numbers, the price of AVAX rose sharply. AVAX/USD reached an intraday high of $14.09, a jump of almost 10%. This marked the highest the token has been since December 5th.
The 14-day Relative Strength Index (RSI) also rallied, breaking a resistance point at 51.50. AVAX prices have since dropped to $13.94.
Litecoin (LTC) also enjoyed a surge in prices, recovering from losses earlier in the week. After LTC/USD dropped to $73.52, the lowest level it had been since November 29th, the token reached an intraday high of $79.52 – its highest level since December 7th.