Avalanche (#AVAX ), which has been on the agenda for the last few days, especially with the high amount of unlocking news, has made a sharp decline and fell below 10 USDT levels. After this decline, it is wondered whether the #Avalanche (AVAX) price will start an upward trend again after the lock openings.
Technically, as you can see in the chart below, a downward trend prevails. It will continue its upward and downward movement between two green support and resistance. It is quite possible that it will first try the resistance zone at 14.3 USDT. This point is also very close to the resistance point of the long-standing downward trend. For this reason, the probability of exceeding this level in the short term seems quite low.
It is not an investment advice. DYOR.
What is Avalanche (AVAX)? What is it for? What are its features?
Avalanche (AVAX) is a secure, scalable and fast platform for decentralized finance ( #DeFi ), decentralized applications (dApps) and other blockchain projects.
Avalanche has a three-tiered architecture:
X-Chain: The layer used for core transactions and assets.
C-Chain: The layer used for smart contracts and dApps.
P-Chain: It is the layer that ensures the security and coordination of the network.
Avalanche uses a new consensus mechanism called Avalanche Consensus. This mechanism allows Avalanche to process up to 4,500 transactions per second ( #TPS ) and keep transaction fees low.
Avalanche's main features are:
Speed: Avalanche can process up to 4,500 transactions per second (TPS). This is much more than Ethereum's 15 TPS.
Scalability: Avalanche uses a new consensus mechanism called Avalanche Consensus to solve the scalability issue. This mechanism allows Avalanche to grow in the future.
Security: Avalanche uses a new consensus mechanism called Avalanche Consensus. This mechanic makes Avalanche immune to 51% attacks.
Compatibility: Avalanche is Ethereum compatible. This ensures that dApps running on Ethereum can also run on Avalanche.
Avalanche is a major platform for DeFi, decentralized applications (dApps), and other blockchain projects. As a fast, scalable and secure platform, Avalanche has the potential to innovate in these areas.
Avalanche's usage areas are:
DeFi: Avalanche provides a secure and scalable platform for DeFi applications.
Decentralized applications (dApps): Avalanche provides a fast and secure platform for dApps.
Other blockchain projects: Avalanche provides an infrastructure platform for other blockchain projects.
Avalanche's native token, AVAX, is used for transactions on the Avalanche network. AVAX is also used as a governance token. $AVAX $SOL $ETH
