Bulls aim to knock out Bitcoin’s all-time high before the US elections wrap up. Will altcoins follow?
Bitcoin bulls are keen to hit $70,000, but a selloff at this level could trigger a sharp downside in BTC and altcoins.
Bitcoin and altcoins made a strong comeback on Oct. 11, indicating solid buying at lower levels.
Avalanche's low transaction fees and consistency were cited as reasons for picking that chain.
Altcoin prices crumbled as Bitcoin fell to $60,000, but charts suggest buyers could step in soon.
Bitcoin’s break above $65,000 and solid buying in-the-spot BTC ETFs have traders convinced that the bull market is back in full swing.
The program, called Retro9000, is supposed to encourage developers to build on Avalanche ahead of a much-anticipated upgrade known as Avalanche9000.
Bitcoin's rally to $64,000 increased traders' interest in altcoins like AVAX, SUI, TAO and AAVE.
Bitcoin faced selling near $64,000, but buyers have managed to keep the price above the short-term holder realized price near $62,000, which is a positive sign.
Bitcoin faced selling near $64,000, but buyers have managed to keep the price above the short-term holder realized price near $62,000, which is a positive sign.
Bitcoin’s failure to maintain above $60,000 is pulling altcoin prices toward their recent swing lows. What will it take to turn the market around?
Bitcoin’s fall below $60,000 signals near-term weakness, but longer-term investors continue withdrawing coins from exchanges, signaling a bullish outlook.
The fund’s official record of share ownership is kept on the Stellar network and the fund may also use Polygon and Arbitrum for certain accounts.
The provider of bitcoin and ether ETFs now offers more than 20 crypto investment products.
The spot Bitcoin ETFs have continued to attract inflows, suggesting that the long-term bullish view remains intact.
The X account of Ava Labs’ operating chief, Luigi D’Onorio DeMeo, has been touting memecoins and other suspicious links, prompting many to warn it's likely a phishing scam.
Bitcoin is finding it difficult to rise above the overhead moving averages, indicating that the bears are trying to flip the level into resistance.
Bitcoin is finding it difficult to rise above the overhead moving averages, indicating that the bears are trying to flip the level into resistance.
Bitcoin’s recovery bounce is losing steam, indicating that the bears remain active at higher levels.
The sell-off in the global stock markets is casting a bearish shadow on the cryptocurrency markets, signaling near-term weakness.
The sell-off in the global stock markets is casting a bearish shadow on the cryptocurrency markets, signaling near-term weakness.
Bitcoin turned up sharply and broke above the overhead resistance, indicating the resumption of the upmove toward $70,000.
Bitcoin turned up sharply and broke above the overhead resistance, indicating the resumption of the upmove toward $70,000.
Due to organic, "market-generated" growth, the Oracle solution could witness another tenfold increase in trading volume.
Over $35 million in funds from a cryptocurrency exchange hack in May has reportedly been moved to the online marketplace “Huione Guarantee” this month.
Avalanche (AVAX), the smart contracts platform known for its fast transaction speeds, is stirring excitement in the crypto world. With a recent price dip seemingly nearing its end, analysts are eyeing a potential breakout that could propel AVAX to new highs. However, amidst the bullish whispers, experts advise a dose of cautious optimism before investors jump on the bandwagon. Related Reading: 36% Explosion! ENS Coin Steals The Spotlight In The Crypto Market A Consolidation Phase Hints At Breakout Potential The current price movement of AVAX has analysts glued to their charts. The coin is consolidating within a falling wedge pattern, a technical indicator that often precedes a bullish breakout. This consolidation suggests a healthy correction after a previous downtrend, explains prominent crypto analyst Worlds Of Charts. $Avax Consolidating In Falling Wedge Chart Pattern Seems Like Healthy Correction Has Almost Completed Now Getting Ready For Breakout & Preparing For Bullish Continuation Expecting Move Towards 60-65$ In Case Of Successful Breakout #Crypto #Avax pic.twitter.com/XafWguyk8w — World Of Charts (@WorldOfCharts1) July 1, 2024 The falling wedge is a key signal that AVAX might be coiling up for a significant upward surge, the analyst said. Worlds Of Charts predicts a price surge towards the $60-$65 range if the breakout materializes. Backing this sentiment, CoinCodex, a popular crypto prediction platform, offers a more aggressive forecast. Their data suggests a staggering 227% increase for AVAX, propelling the price to a lofty $91.46 by August 2nd, 2024. On-Chain Metrics Reveal Investor Confidence Meanwhile, on-chain data from IntoTheBlock paints a picture of investor confidence. Over half (51%) of AVAX holders are currently in profit, showcasing a positive long-term outlook. Further bolstering this confidence, a whopping 45% of investors have held onto their AVAX for over a year, indicating a commitment to the project’s long-term vision. Related Reading: Toncoin Price Inches Closer To All-Time High – Will TON Hit $8 This Week? The dominance of large investors, often referred to as whales, in the AVAX ecosystem is another noteworthy point. These whales hold a significant 72% of the circulating supply, contributing to a sense of stability. Whale activity can significantly impact price movements, and their continued investment in AVAX suggests they see value in the platform’s potential. A Call For Measured Optimism The recent price dip also serves as a reminder of the inherent volatility in the crypto market. While the falling wedge pattern suggests a potential reversal, a confirmed breakout remains to be seen. With careful analysis and a well-defined investment strategy, Avalanche could be poised for a significant climb. However, for now, investors are wise to exercise caution and avoid being swept away by the current of bullish enthusiasm. Featured image from Pexels, chart from TradingView
AVAX price is gaining pace above the $28.65 resistance. Avalanche could rise further if there is a clear move above the $30.00 resistance zone. AVAX price is moving higher from the $27.40 support zone against the US dollar. The price is trading above $28.65 and the 100-hourly simple moving average. There was a break above a key declining channel with resistance at $28.40 on the hourly chart of the AVAX/USD pair (data source from Kraken). The pair could continue to rise if it stays above the $28.65 and $28.50 support levels. AVAX Price Aims Higher After a steady decline, Avalanche’s AVAX found support near the $25.00 zone. A support base was formed above $25.00, and the price started a fresh increase, like Bitcoin and Ethereum. The price gained over 8% and broke many hurdles near $28.50. There was a break above a key declining channel with resistance at $28.40 on the hourly chart of the AVAX/USD pair. The pair even cleared the $29.40 resistance to move into a positive zone. AVAX price is now trading above $28.50 and the 100-hourly simple moving average. It is showing positive signs above the 23.6% Fib retracement level of the upward move from the $27.37 swing low to the $29.95 high. On the upside, an immediate resistance is near the $30.00. The next major resistance is forming near the $30.50 zone. If there is an upside break above the $30.50 level, the price could accelerate higher. In the stated case, the price could rise steadily toward the $32.50 level or even $34.00. Dips Supported in Avalanche? If AVAX price fails to continue higher above the $30.00 or $30.50 levels, it could start a downside correction. Immediate support on the downside is near the $29.35 level. The main support is near the $28.65 zone and the 50% Fib retracement level of the upward move from the $27.37 swing low to the $29.95 high. A downside break below the $28.65 level could open the doors for a drop toward $28.00 and the 100 simple moving average (4 hours). The next major support is near the $27.40 level. Technical Indicators Hourly MACD – The MACD for AVAX/USD is gaining momentum in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for AVAX/USD is now above the 50 level. Major Support Levels – $29.35 and $28.65. Major Resistance Levels – $30.00 and $30.50.
Avalanche (AVAX) has recently shown a strong correctional upswing, sparking renewed interest among investors and traders. This upward momentum comes after a rejection at $23.49 and indicates a potential challenge to the $30.34 resistance level. As AVAX approaches this critical threshold, market participants are closely watching to see if the cryptocurrency can maintain its bullish trajectory and break through the resistance. The $30.34 level is now a focal point, determining whether Avalanche can sustain its rally and continue to climb higher. This article focuses on the use of technical indicators to examine AVAX’s current price movement to predict potential Scenarios if the price reaches the $30.34 resistance level. Analyzing Avalanche’s Current Upswing Currently, on the 4-hour chart, the price of AVAX is actively trading above the 100-day Simple Moving Average (SMA). Although the price tends to be moving in a consolidating manner, there are possibilities that it could extend its upswing. Also, while the signal line of the 1-day Relative Strength Index (RSI) signals that the price of Avalanche may go bearish, this is just a short-term movement, which at some point, the price may begin to rise again. Meanwhile, on the 1-day chart, despite still trading below the 100-day SMA, Avalanche is actively bullish as it is attempting a correctional upward movement toward the $30.34 resistance level with consistent momentum. The formation of the 1-day RSI indicator also confirms this current price bullishness as the signal line of the indicator seems to have moved out of the oversold zone towards the 50% level. Thus, it can be considered that AVAX’s price may undergo a brief pullback before challenging the $30.34 resistance level Breaking Through Or Facing Rejection At $30.34? Exploring the possible outcomes of Avalanche, it was discovered that if AVAX’s price reaches the $30.34 resistance level and breaks above, it may continue to rise higher to test the $36.15 resistance level and potentially move on to challenge other higher levels if it breaches this $36.15 level. However, if the crypto asset faces rejection at the $30.34 resistance, it will begin to decline toward the $23.49 support level. If this level is breached, it may continue to decline to test the $18.81 support level and may move on to test other lower levels following a break below the $18.81 level. AVAX’s price was trading at around $28.23 and was up by 1.01% with a market capitalization of over $11 billion and a trading volume of over $336 million as of the time of writing. There has been a 24-hour increase of 1.01% in AVAX’s market capitalization and a 3.07% decrease in its trading volume. Featured image from Adobe Stock, chart from Tradingview.com
Bitcoin has broken below the immediate support of $64,602, increasing the risk of a fall to the crucial $60,000 price level.
Bitcoin and several altcoins are getting sold into rallies, increasing the risk of a downside breakdown.