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Avalanche (AVAX)

Avalanche Price Analysis: AVAX still holds above $65, move higher to follow?

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  • Avalanche price analysis is bullish today.
  • AVAX/USD consolidates above $65.
  • Closest resistance at $73.5.

Avalanche price analysis is bullish today as bearish momentum has been exhausted, as reflected in the consolidation above $65 overnight. Therefore, we expect AVAX/USD to rally higher again over the next 24 hours.

Avalanche Price Analysis: AVAX still holds above $65, move higher to follow? 1
Cryptocurrency heat map. Source: Coin360

The overall market traded mostly in the green over the last 24 hours, with Bitcoin leading the way as it gained 5.38 percent. Meanwhile, Ethereum has gained 2.43 percent, with the rest of the top altcoin following.

Avalanche price movement in the last 24 hours: Avalanche still holds above $65

AVAX/USD traded in a range of $64.00 – $67.91, indicating mild volatility over the last 24 hours. Trading volume has increased by 2.22 percent and totals $915.7 billion, while the total market cap trades around $14.45 billion, ranking the coin in 13th place overall.

AVAX/USD 4-hour chart: AVAX set to move higher next?

On the 4-hour chart, we can see the Avalanche price starting to reverse above the $65 support, indicating further upside will follow.

Avalanche Price Analysis: AVAX still holds above $65, move higher to follow?
AVAX/USD 4-hour chart. Source: TradingView

Avalanche price action has traded in a strong bullish momentum over the past weeks. However, after AVAX/USD set a new higher high at $79.80, a slow retracement began at the end of September.

Support was ultimately found around $61.50, with AVAX moving sideways for several days from there. Some bullish signs can be seen, with a slightly higher low set yesterday as the $65 support prevented further downside.

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Overall, this Avalanche price action development should lead towards further upside later this week. As long as the $65 mark holds, the overall market structure remains bullish.

Avalanche Price Analysis: Conclusion 

Avalanche price analysis is bullish today as a new higher low has been established around $65. Therefore, we expect AVAX/USD to continue higher later today and look to reach the previous swing high at $73.5 later this week. 

While waiting for Avalanche to move further, read our guides on Mycelium Wallet, Next Cryptocurrency to Explode in 2021, as well as our BitMEX review.

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Avalanche (AVAX)

Avalanche (AVAX) Price Is Looking Super Strong, Possesses The Potential To Surge Nearly 65%

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One of the fastest smart contracts platforms, Avalanche’s first desktop wallet recently launched version 2.0. The new features are said to be pretty compatible with all the DApp on Avalanche blockchain. Hence, the AVAX price could skyrocket to the moon in the coming days. 

The asset went parabolic since the price experienced a huge crash during mid-may. After undergoing notable ups and downs, the asset managed to surge beyond $60. However, with the recent dip and correction, the price formed a ‘w-shaped’ pattern and broke above the levels. 

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Also Read: ZCASH(ZEC), Harmony(ONE) Price Could Fall Into Bearish Trap! What’s Next?

avaxchart
Source: Tradingview

The AVAX platform experienced a huge influx of volume since the mid of august 2021 which gave an immense boost to the price. After the recent retracement from $60 to around $50 and a rebound to prior levels, the asset formed a ‘w-shape’. Moreover, with the recent surge, the asset broke the neckline and is currently on the verge to test the strong resistance levels at $71. 

Also, the price is trending within an ascending channel with a notable rebound from support levels and rejection from resistance levels. If the price maintains the same trend, then the levels at 1.4 FIB levels at $126 could be an achievable target. Hence the Avalance (AVAX) price may regain their lost positions soon. 

The asset went parabolic since the price experienced a huge crash during mid-may. After undergoing notable ups and downs, the asset managed to surge beyond $60. However, with the recent dip and correction, the price formed a ‘w-shaped’ pattern and broke above the levels. 

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Also Read: ZCASH(ZEC), Harmony(ONE) Price Could Fall Into Bearish Trap! What’s Next?

avaxchart
Source: Tradingview

The AVAX platform experienced a huge influx of volume since the mid of august 2021 which gave an immense boost to the price. After the recent retracement from $60 to around $50 and a rebound to prior levels, the asset formed a ‘w-shape’. Moreover, with the recent surge, the asset broke the neckline and is currently on the verge to test the strong resistance levels at $71. 

Also, the price is trending within an ascending channel with a notable rebound from support levels and rejection from resistance levels. If the price maintains the same trend, then the levels at 1.4 FIB levels at $126 could be an achievable target. Hence the Avalance (AVAX) price may regain their lost positions soon. 

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MOVR

MOVR All Set TO Give A Tough Fight To FTM & AVAX, Who Will Succeed?

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Avalanche the De-Fi protocol, has been stealing the limelight for quite some time now. The protocol’s native token AVAX has been surging higher on the index. This might be an influence of the recent announcements of the release of Alpha Homora V2. Which aims at bringing the next generation of De-Fi products to the fastest smart contracts platform. And growing adoption in the De-Fi space.

AVAX Price at press time is trading at $66.72 with positive gains of 2.3%. The market cap of the coin is $14,539,130,025. While the trading volume for round-the-clock floats around $1,137,857,465. The platform has seen one of the biggest liquidity programs in the industry, at $180.

Moonriver Will Launch the Biggest Liquidity Program in the Space?

The Moonbeam foundation announces that they have allocated 8% of the total genesis supply of GLMR. And 10% of the total genesis supply of MOVR to incentivize liquidity programs on Moonbeam and Moonriver. The allocation to liquidity programs will help effectively and competitively bootstrap activity in the ecosystem of Moonbeam and Moonriver. 

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The new 10% allocation (1,000,000 MOVR) from liquidity programs will be powered by the community initiatives and parachain slot reserve fund. The liquidity program is the biggest liquidity program, compared to two of the biggest liquidity programs, $180M for AVAX, and $314M for FTM.

Moonriver at press time is trading at $381.83 with gains for round the clock at 5.3%. While the market cap of the coin is at $777,697,135. The trading volume for the last 24-hours hovers around $50,825,717. And the total supply of the coin is 10,132,208. Netizens are anticipating a massive rally of MOVR, this alt season.

Fantom Is in the Game!

Fantom is one of the higher-performing altcoins. The coin at press time is trading at $2.56 with gains of 9.9%. The market cap of FTM is at $6,505,756,272, while the trading volume for the last 24-hours is at $989,113,685. The coin hit its ATH of $2.66, a couple of hours before press time.

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The aforementioned coins hold immense potential in the industry. The three coins are in a competitive race. With time-unfolding, we can witness the ideal platform among the three in the space. The movement of these altcoins is encouraging investors and traders to look away from programmed purchases.

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Avalanche (AVAX)

AVAX network TVL crossed $11.5 billion as Growth DeFi protocol partners with Trader Joe

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  • Growth DeFi protocol has partnered with Avalanche’s largest decentralized exchange to drive higher trade volume. 
  • Avalanche ecosystem’s launchpad is preparing for upcoming initial DEX offerings.
  • DeFi lending and borrowing have intensified on Avalanche, boosting the on-chain activity of AVAX tokens. 

Avalanche network on-chain activity is set to explode with new partnerships in the ecosystem. The $180 million incentive program has attracted decentralized applications to the AVAX network. 

Avalanche competes with the Ethereum-killers for higher DeFi market share

Avalanche network, the leading smart contracts platform, currently has a TVL of over $11 billion. Users prefer fast transaction processing with low transaction costs; the AVAX network has emerged as a top choice among traders in DeFi. 

Traders new to the DeFi network, seeking lending and borrowing capital protocols, have turned to Avalanche. The network offers swapping, farming, lending, and borrowing facilities in a single application, allowing traders to borrow up to 80% on USDT and 75% on BTC, ETH, and AVAX. 

The smart contract platform’s largest decentralized exchange, Trader Joe, generates an aggregate of $440,000 in trading revenue per day, of which $73,000 hits the protocol’s treasury. 

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Trader Joe daily aggregate trading revenue.

Trader Joe daily aggregate trading revenue. 

The DEX recently partnered with Growth DeFi protocol, which plans cross-chain integration with the Avalanche blockchain network. Through the new partnership, the protocol will be able to offer multi-chain capabilities and generate higher liquidity. 

The network is hosting decentralized applications joining the AVAX ecosystem for the $180 million incentives program, and the ecosystem is preparing for upcoming initial DEX offerings. 

Avalanche announced the launch of Stake DAO and the allocation of $3 million in incentives to the DeFi project. 

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