Avalanche (AVAX) is growing like an avalanche: Is a rally coming?

Avalanche (AVAX), which has partnered with Franklin Templeton, one of the world's largest asset managers, has given a bullish signal.

Avalanche has announced a partnership with Franklin Templeton in the real world assets (RWA) space. The company, which manages $1.6 trillion in assets, has made a splash by choosing Avalanche.

Franklin Templeton’s assets will be tokenized on the Avalanche blockchain. With the announcement, AVAX has risen by nearly 10 percent in the last 24 hours.

Coinpedia, which analyzed the course of AVAX, said:

AVAX is entering the accumulation zone before the bull run, and could create a new ATH (all-time high) in early 2025.

Stating that Avalanche (AVAX) is forming a consolidation (accumulation) similar to the 2021 bull run, Coinpedia stated that the long-term price movement has the potential to create a new ATH.

AVAX, which fell below $18 on August 5, has recovered in recent days. The cryptocurrency, which is traded at $23, is moving towards important resistance areas.

Reminding that AVAX is in the consolidation phase and gaining strength, Coinpedia stated that the $ 28 resistance could be broken.

Bollinger bands have begun to converge, but there is no possibility of expansion. Stating that AVAX will end its bearish effect after breaking Bollinger's average bands and approaching $ 30, Coinpedia said:

Considering the Fibonacci levels, if the AVAX price rises above the consolidation by the end of September, a new ATH could come at $ 154.