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Brothers, today let's talk about AVAX (Avalanche), this project is truly a 'dark horse'. Many might think it's still silently lurking in the corner, but let me tell you, today's AVAX is a potential stock in the market, and its explosion is just a matter of time!
Technical analysis: The pattern is perfect, the breakout is imminent.
How does the daily chart of AVAX look now? Stable! The short-term support level is solid, and the price is gradually rising amidst fluctuations, forming a classic 'ascending wedge' structure. Generally speaking, this pattern indicates that a strong breakout is just around the corner.
The key point right now is that the price of AVAX is already approaching the important resistance zone above. Once it breaks through, it can explode instantly, potentially skyrocketing in the short term. Moreover, the short-term moving average crossover has been completed, the trend is upward, and market funds are starting to flow back in. This pattern is a symbol of a 'long bull' in the crypto world.
Sentiment: The ecosystem is active, and institutional funds are quietly entering.
To be honest, the AVAX ecosystem is currently a bit low-key, but its potential is greatly underestimated. Recently, with the rising activity on its DeFi platform, the on-chain transaction volume of AVAX has been continuously increasing. This not only indicates that the usage of its network is on the rise but also suggests that funds are quietly flowing into this project.
Furthermore, the distribution of AVAX holding addresses is becoming more and more dispersed, with a gradual increase in long-term holders. This reflects the market's confidence in it is accumulating, just like 'value investors' slowly entering the stock market.
Logic: AVAX's competitiveness is becoming stronger.
The strongest point of AVAX is its high efficiency. Its consensus mechanism (Avalanche consensus protocol) makes its transaction speed and throughput almost unbeatable. In this regard, AVAX is stronger than most public chains, and the transaction costs are surprisingly low. This means that as the ecosystem gradually expands, AVAX's competitive advantage will become more and more apparent.
Moreover, as more and more DeFi projects and NFT platforms choose to use Avalanche as their base chain, the demand for AVAX will inevitably surge. This incremental demand is the most direct driving force behind price increases.