Avalanche has faced intense selling pressure over the past two months, with its price plunging more than 42% since mid-December. The market remains highly volatile, driven by uncertainty, but recent signs of recovery suggest a shift in sentiment. After days of positive price action, AVAX is showing signs of strength, and analysts are watching closely for a potential breakout. Related Reading: Chainlink Could Target $30 Once It Breaks Bullish Pattern – Top Analyst Top analyst Carl Runefelt shared key insights on X, revealing that AVAX has formed another falling wedge on the daily timeframe. This pattern, widely recognized as a bullish reversal indicator, signals that a massive upside move could follow if AVAX breaks out. Runefelt highlights that the breakout target for AVAX is around $56, aligning with key resistance levels. As the crypto market gears up for a potential bullish phase, Avalanche’s price action in the coming weeks will be crucial. If the wedge formation plays out as expected, AVAX could see a strong rally, attracting renewed investor confidence. However, traders remain cautious, as failure to break above key levels could lead to continued consolidation or even further downside. All eyes are now on Avalanche as it approaches a decisive moment. Avalanche Eyes Breakout Amid Bearish Market Pressure Avalanche has shown signs of recovery in the past few days, surging over 13% from a key support level. This move has sparked optimism among investors, but the broader bearish trend that has dominated the market since late December remains a concern. If AVAX fails to reclaim key supply levels as support, the recent gains could be short-lived, and the downtrend may continue. Top analyst Carl Runefelt shared a technical analysis on X, revealing that AVAX has formed another falling wedge on the daily timeframe. This pattern is widely considered a bullish reversal signal, suggesting a significant breakout could be on the horizon. According to Runefelt, once AVAX breaks out, the target is set at the top of the pattern at $56—an impressive 64% rally from current levels. However, there are still risks that traders must consider. While a falling wedge breakout could signal the start of a new bullish phase, AVAX must first overcome key resistance levels to confirm a trend reversal. If bulls fail to hold current support levels and push the price above these barriers, AVAX could face further downside pressure. Related Reading: Cardano Consolidates Within A Symmetrical Triangle – Expert Sees A 40% Move Once It Breaks AVAX Price Faces Key Resistance Avalanche (AVAX) is currently trading at $34.4 after a highly volatile Friday, where the price surged to $36.1 before retracing the entire daily move. This rapid price swing reflects the uncertainty in the market as AVAX struggles to find direction. For bulls to confirm a potential reversal, the price must reclaim the $36 mark as soon as possible and establish support above it. Additionally, AVAX needs to hold above the 200-day exponential moving average (EMA) at $34.6, a crucial technical level that could determine the short-term trend. A sustained move above these levels would reinforce bullish sentiment and potentially trigger a rally toward higher resistance zones. However, failure to hold above the 200-day EMA could result in increased selling pressure, pushing AVAX toward lower demand levels around $31.7. This would signal a continuation of the bearish trend that has dominated the market since mid-December. Related Reading: Solana Restested A Key Level And Now Faces Resistance – Breakout Next? With the market still experiencing uncertainty and price swings, the coming days will be crucial for AVAX’s trajectory. If bulls regain control and reclaim key levels, a strong upward move could follow. Otherwise, further consolidation or downside movement remains a possibility. Featured image from Dall-E, chart from TradingView
The AVAX price has been mostly quiet since the start of 2025, mirroring the climate of the altcoin market so far in the new year. After reaching a local high of $55 in early December 2024, the Avalanche token has been in a steady decline, reaching as low as $32.2 on Wednesday, January 29. Investors, Watch Out For These Price Levels In a new post on the X platform, popular crypto analyst Ali Martinez revealed the key on-chain levels that could prove pivotal to the future trajectory of AVAX price. This on-chain observation focuses on the average cost basis of several Avalanche investors. In cost-basis analysis, a zone’s capacity to serve as support or resistance depends on the total amount of tokens last purchased by investors at the level. As shown in the chart below, the size of the dot represents and is directly proportional to the number of AVAX tokens acquired within each corresponding price range. Related Reading: Chainlink Could Target $30 Once It Breaks Bullish Pattern – Top Analyst According to data from IntoTheBlock, around 302,100 addresses purchased approximately 14.26 million AVAX tokens within the price range of $34.01 and $35.15. As highlighted by Martinez, this has led to the formation of a crucial support cushion within this price region. The $34.5 region is able to act as a crucial support level due to the number of investors with their cost basis in and around it. The rationale is that when the AVAX price returns to $34.5, investors with their cost basis around this zone are likely to double down and defend their position by acquiring more tokens, allowing prices to quickly recover. Furthermore, IntoTheBlock data shows that the $39.49 – $40.54 price bracket is currently thick with investors. According to data from IntoTheBlock, more than 233,000 addresses bought over 12.33 million AVAX between the price range. Martinez noted that this $39.49 – $40.54 price region is a major resistance zone because investors are always likely to make a move when an asset returns to their cost basis. In this scenario, investors who were in the red before may want to quickly sell their holdings as soon as they enter profit, which could place downward pressure on the AVAX price. The price action of the AVAX around two regions could make or mar its performance over the next few weeks. Hence, investors might want to pay extra attention to the altcoin whenever it approaches these support and resistance zones. AVAX Price At A Glance As of this writing, the price of AVAX stands at around $34.8, reflecting a mere 1% increase in the past 24 hours. The premier cryptocurrency’s performance is even more sluggish on larger timeframes. According to data from CoinGecko, the Avalanche is down by nearly 3% in the past seven days. Related Reading: Bitcoin Price Enters Ascending Phase After Cup And Handle Formation At $105,000, Here’s The Next Target Featured image from IQ.wiki, chart from TradingView
The upgrade was designed to make Avalanche cheaper. It worked.
Avalanche is positioning itself for significant growth in the US by leveraging the Trump administration’s focus on technological advancement On Jan. 21, Emin Gün Sirer, founder of Ava Labs, shared optimism about the administration’s emphasis on innovation, describing it as a timely push for transformative growth. According to him, Avalanche intends to align its initiatives […]
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Bitcoin's chance of hitting a new all-time high has increased, buoyed by expectations of the adoption of a US Bitcoin reserve.
Bitcoin’s recovery to $100,000 is likely to be met with strong resistance, but if the bulls prevail, the next stop is near $108,300.
Bitcoin’s fall below $90,000 is a negative sign, but the bulls are expected to vigorously defend the $85,000 level.
Bitcoin’s bounce above $94,000 suggests that the bulls remain buyers on dips, increasing the possibility of a retest of $100,000.
Bitcoin’s sell-off shows no signs of forming a bottom, which is destroying traders’ appetite for altcoins.
Sustained buying by institutional investors pushed Bitcoin above $100,000, opening the doors for a retest of the all-time high.
AI models have envisioned some eye-watering crypto prices for 2025.
Bitcoin price looks on track to reclaim the $100,000 level. Are altcoins set to follow?
Bitcoin is holding above $90,000, signaling the possibility of a move back toward $100,000 in the next few days.
Amid a year of high points, challenges remain. How will AI developers deal with a looming data shortage, for instance?
Bitcoin needs to find support in the $90,000 to $85,000 range in order for altcoins to recover and find new buyers.
In line with the general crypto market, Avalanche (AVAX) has experienced significant market correction over the past two weeks following an extended price rally. With the altcoin’s price now hovering around the $36 price zone, recent market predictions have highlighted a critical market condition needed to avoid a complete collapse of AVAX’s bullish structure. Related Reading: AVAX Price Inches Closer To $50 – Will Bulls Deliver A Breakout? AVAX Bulls Must Defend $35.30 For Total Price Recovery On December 27, digital asset analysis platform More Crypto Online shared an insightful commentary on the AVAX market via the X platform. With the aid of the Elliott Wave Theory, the market experts forecasted a yellow scenario which is typically a bullish projection. For context, the yellow scenario indicates an asset is in a corrective phase specifically within the B-wave of an A-B-C correction i.e a three-wave pattern that occurs during a price correction of which B is usually an upward movement that aligns with the ongoing market trend before transitioning to a final downward C-wave. A yellow scenario suggests the B-wave is still forming and could push higher, provided an asset’s price holds above certain levels. In terms of the AVAX market, analysts at More Crypto Online state the asset price must remain above $31.69 to keep the yellow scenario valid. However, to strengthen the case of this yellow scenario, market bulls must ensure AVAX’s price does not break below $35.3 as a dissent below this price region could potentiate a further decline to $31.69. The analyst warns that any price fall below this lower threshold would invalidate the yellow scenario resulting in a downward C-wave. Related Reading: Avalanche (AVAX) 25% Surge Fueled By New Initiatives To Support Developers AVAX Price Overview At the time of writing, AVAX trades at $36.74 following a decline of 2.12% in the past 24 hours. Meanwhile, the altcoin’s daily trading volume is down by 6.40% and valued at $448.45 million. On larger time charts, AVAX is in greater losses of 11.65% in 7 days and 14.81% in 30 days, demonstrating a consistent decline in recent weeks. In making any headway, AVAX will first need to confront a major resistance at the $42 price zone, the subversion of which could open the pathway for a potential rally to $55. With the crypto bull run predicted to fully take off in early 2025, this altcoin remains an investor’s favorite following its price performance in the 2021 bull cycle during which it gained by over 4,400 to establish its current all-time high of $144.96. With a market cap of $14.92, AVAX continues to rank as the 11th largest asset in the cryptocurrency market. Featured image from Securities.io, chart from Tradingview
Bitcoin’s repeated failure to cross above $100,000 increases the risk of a drop under $90,000.
Bitcoin’s recovery shows solid buying at lower levels, increasing the possibility of a break above $100,000 in the short term.
Bitcoin remains under pressure, but the bulls are expected to defend the $90,000 support.
A solid recovery in Bitcoin price is a hint that bulls have not given up on BTC and altcoins as they continue to buy dips below key support levels.
Bitcoin’s pullback after hitting a new all-time high above $108,000 has started a correction in select altcoins, signaling profit booking by the bulls.
Sustained demand from buyers has pushed Bitcoin to a new all-time high, opening the doors for a rally toward $113,000.
The crypto ecosystem is on the cusp of yet another significant week, ushered in by several major developments taking place across different networks. This week’s spotlight falls on Bitcoin, Fantom, Avalanche, Stacks, and LayerZero, each of which is facing a pivotal milestone. The broader macro backdrop is also critical, particularly the December 18 Federal Open Market Committee (FOMC) interest-rate decision in the United States. #1 Bitcoin And Crypto Await The FOMC Decision Bitcoin traders and investors are watching the Federal Reserve’s policy meeting scheduled for Wednesday, December 18, at 2:00 pm ET, with Fed Chair Jerome Powell’s press conference to follow at 2:30 pm ET. Saxo Bank writes in their latest investor note, “The Federal Reserve is widely expected to deliver a 25 basis-points (bps) rate cut this week, reducing the target range for the federal funds rate to 4.25-4.50%.” According to futures data, there is a 95% probability of this move, which follows a similar cut in November. While the rate cut is seemingly priced in, the market will scrutinize the Fed’s Summary of Economic Projections (SEP) and its “dot plot,” which depict the expected path of policy rates for 2025 and beyond. Any signal that the Federal Reserve could limit the pace of future cuts—particularly if it revises the dot plot from four rate cuts in 2025 down to three or even two—might weigh on risk-on assets such as Bitcoin and cryptocurrencies. Many analysts point to the labor market, which has been softening, and to easing shelter inflation, evidenced by slowing rental price growth, as key justifications for additional rate cuts. Related Reading: Crypto Market Hit Hard With $1.7 Billion Liquidated, Largest Event Since 2021 However, the Fed may convey a more cautious stance and highlight so-called “Trump-flation” risks, referencing the possibility of renewed trade tariffs under the incoming Trump administration that could push inflation higher. If such inflationary risks remain persistent, the Fed might pause or reduce the pace of cuts in 2025, which would be viewed as a hawkish twist. The new dot plot for 2025 is currently expected to show around 3.625%—a baseline assumption of three rate cuts next year—but the market has speculated that this could move to 3.875% if the Fed becomes more cautious. The immediate reaction in Bitcoin will likely hinge on the meeting’s tone, with a less dovish Fed potentially introducing volatility to BTC price action. #2 Fantom (FTM) Fantom is entering a new era with the upcoming Sonic L1 mainnet launch, a transformative upgrade that will dramatically improve network throughput and cost efficiency. Developers behind Fantom have highlighted that Sonic is capable of processing approximately 10,000 transactions per second, with near-instant finality—a marked leap from current network capabilities. The planned modifications are also set to cut operational expenditures, with a reported 66% decrease in validator node costs and minimized storage requirements. Another important detail is Fantom’s decision to maintain compatibility with the Ethereum Virtual Machine, which should make it straightforward for EVM-based applications to migrate to the upgraded chain without modifying their underlying code. Sonic will also debut a new token, denoted as S, which will replace the existing FTM token at a one-to-one ratio. The crypto trader Jacob Canfield stated via X, “Shared this setup x subs last week, but FTM is close to a price discovery break. Needs to clear the bearish impulse base and close a 4 hour candle and we will probably see swift price discovery. The chart coincides nicely with the SONIC launch.” #3 Avalanche (AVAX) Avalanche will be another focal point in the crypto industry, as the Avalanche9000 upgrade is set to go live on the mainnet today, on December 16. This follows a testnet debut on the “Fuji” testnet on November 25. Related Reading: Crypto Market Outlook: VanEck Issues 10 Predictions, Including Bitcoin Nearing $200,000 The highly anticipated mainnet launch is described by Avalanche’s core developers as the most significant upgrade in the chain’s history. Compounding the buzz is Avalanche’s December 12 announcement of a $250 million private token sale led by Galaxy Digital, Dragonfly, and ParaFi Capital, with more than 40 other entities participating. According to official statements, this fundraising round strengthens Avalanche’s treasury, already valued at around $3 billion in AVAX tokens, and comes on the back of a previous $230 million token sale in 2021. Avalanche9000 incorporates the Etna Upgrade and key community proposals ACP-77 and ACP-125, altogether reimagining how Avalanche’s subnets function—now referred to as layer-1s. In doing so, Avalanche transitions from a costly validator system requiring 2,000 AVAX per instance to a more subscription-like model that charges 1.33 AVAX per month. The upgrade also focuses on cross-chain connectivity, enabling more sophisticated interchain communication within Avalanche’s broader ecosystem. #4 Stacks (STX) Stacks is another name to keep on the radar as it prepares to launch sBTC on Tuesday, December 17, at 11:00 am ET. This new BTC-backed asset is designed to bring Bitcoin’s liquidity directly into the DeFi sphere on Stacks, offering a rewards program that is notably free of staking requirements. According to the project’s official announcement, the sBTC Rewards Program provides a 5% annual Bitcoin reward, paid out in bi-weekly installments, and the distribution is made in actual Bitcoin, not third-party tokens. The program’s first phase, commencing on December 17, will focus on deposit functionality and immediate rewards accrual for sBTC holders. The second phase, currently planned for March 2025, is expected to layer in more advanced DeFi capabilities and reward structures, thereby broadening the utility of sBTC. #5 LayerZero (ZRO) LayerZero rounds out the week’s watchlist with a governance milestone. On December 20, 2024, at 00:00 UTC, ZRO token holders will engage in the network’s first-ever fee switch referendum, a vote that could activate a protocol fee on every LayerZero message. The referendum is straightforward, posing the single question, “Turn the fee switch on?” A majority vote of “Yes,” assuming quorum is met, would enact a fee that matches the underlying DVN and Executor costs for each message, effectively doubling the cost of each cross-chain transmission. The collected fees would then be used to buy back and burn ZRO, potentially reducing the circulating supply and impacting the token’s economics. ZRO balances across Ethereum, Optimism, Base, Polygon, Avalanche, BNB Chain, and Arbitrum are all factored into each holder’s voting power, consolidated seamlessly through LayerZero’s lzRead feature. The referendum will last seven days, concluding on December 27, 2024. A 60% quorum of the circulating supply is required for the vote to be valid; if that threshold is not met, the outcome defaults to “No.” If the referendum passes, the protocol fee would be immediately activated, potentially shifting the dynamics of how developers and users manage cross-chain communications. This governance mechanism is set to repeat every six months, though the quorum requirement would decrease by 5% each time if it is not met, down to a minimum floor of 20%. At press time, Bitcoin traded at $104,748. Featured image created with DALL.E, chart from TradingView.com
Bitcoin is facing selling above $100,000, but the repeated retest of a resistance level increases the likelihood of a breakout.
Altcoins as a group outperformed bitcoin, with AVAX and LINK leading sector gains.
The locked-token sale saw participation from more than 40 companies.
The Avalanche Foundation announced raising $250 million through a private token sale to support its blockchain platform, according to a Dec. 12 statement. The funding round had around 40 participants, including leading firms such as Galaxy Digital, Dragonfly, and ParaFi Capital. The announcement spurred a 10% surge in Avalanche’s AVAX token, pushing its price to […]
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Bitcoin’s rally above $100,000 has improved sentiment, triggering a strong recovery in several altcoins.
Bitcoin’s failure to hold $100,000 could attract profit booking from traders. Which altcoins will follow BTC's downtrend?
Bitcoin price trades above $100,000 again, proving that every minor dip is being purchased.