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AVAX Technical Analysis: What Factors to Watch in Altcoin? 📊 📈 AVAX price is gaining momentum above the $36.50 resistance. If there is a clear movement above the $40.00 resistance zone, the avalanche could rise even higher. AVAX price is rising from the $30.50 support zone against the US dollar. The price is trading above $35.00 and the simple moving average (4 hours) of 100. There was a break above a significant downtrend line with $34.00 resistance on the 4-hour chart of the AVAX/USD pair. The pair could continue to rise if it stays above the $36.30 and $35.50 support levels. AVAX Aims Higher Price Following a steady decline, Avalanche's AVAX found support near the $30.50 zone, a low close to $30.58. The price has launched a new increase, such as Bitcoin and Ethereum. AVAX technical analysis; the price increased by over 10%. It overcame many obstacles around $35.00. There was a break above the line of a significant downtrend with $34.00 resistance on the 4-hour chart of the AVAX/USD pair. The pair even cleared the 50% Fib pullback level of the downward movement towards $30.58 from the $39.83 high oscillation. AVAX price is currently trading above the $36.50 and 100 simple moving average (4 hours). On the upper side, there is a sudden resistance to the $37.65 region, or a resistance close to the 76.4% Fib retracement level of the downward movement from the $39.83 high to the $30.58 oscillation. If the AVAX technical analysis price fails to continue higher than the $37.65 or $39.80 levels, it could initiate a downward correction. Downward instant support is close to $36.30. The main support is close to the $35.20 region and the 100 simple moving average (4 hours). A downward break below the $35.20 level can open the doors to a major drop towards $32.80. The next big support is near the $30.50 level. 4 hours MACD – MACD for AVAX/USD is gaining momentum in the bullish zone. 4-hour RSI (Power Index) – RSI for AVAX/USD is now above the 50 level. Main Support Levels – $36.30 and $35.20. #altcoins #CryptoWatchMay2024 #ANALYSIS $AVAX

Top Meme Coins to Focus As $BTC Sparks Fresh Rally Above $63k

XRP Resists Market Fluctuations After the recent overall decline of the cryptocurrency markets, XRP's performance draws attention. In particular, the legal process between Ripple and the U.S. Securities and Exchange Commission (SEC) is at the forefront as a factor that could significantly affect the price of XRP. This may determine the future price movements of XRP. XRP's Stable Stand and Potential Rise Despite the challenges it faces, XRP has managed to maintain its stability compared to other major cryptocurrencies such as Bitcoin and Ethereum. According to data from CoinGecko, XRP has increased by over 5 percent over the past two weeks and is currently trading at $0.5356. Analysts note that this stability points to positive returns for XRP in the future. XRP's price stability could be an important indicator of investment decisions. The results of the legal process between Ripple and the SEC could directly affect the price of XRP. Analysts' technical analysis can provide critical information for investment timing. As a result, XRP's current market conditions and legal processes can present significant opportunities for cryptocurrency investors in the coming period. Analysts' positive perspective and technical analysis results lead to optimistic expectations about XRP's future performance. DYOR #XRP $XRP #altcoins #CryptoWatchMay2024

This Indicator Turned Positive! Will Selling Pressure for Bitcoin Ease? 🤔 🚀M2 money supply developments are accelerating rapidly! Get ready for the Bitcoin journey... Here begins the journey. In a report released on May 2, crypto analysis firm Glassnode stated that “net outflows have increased during April, which means consistent selling pressure” on the flagship Bitcoin of cryptocurrencies. On the other hand, Bitcoin's price is currently trading at $59,586, down 9.75% in the last 30 days. The M2 Money Supply is an estimate of all cash and short-term bank deposits held across the country, returning positive from year to year as of May 1. This shows that the money in circulation is generally increasing and is generally considered an indicator that investors are oriented towards assets that perform better during periods of high inflation. Historically, Bitcoin and the cryptocurrency market have begun to outperform traditional financial markets with an increase in global M2 supply. This could mean a new increase in BTC and cryptocurrencies for the coming period. For the first time of the M2 Money Supply, "positive on an annual basis… DYOR #BTC #BullorBear #bitcoin #Analysis $BTC

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