Avalanche Price Jumps 57%, AVAX Price Eyes To Go 2X This Month?
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The crypto market has achieved the $3 Trillion mark as the Bitcoin price approaches the $90,000 mark. Following this, top altcoins such as Avalanche have gained a significant uptrend in their valuation over the past few days.
With the cryptocurrency market achieving a new milestone each day, is it too late to consider Avalanche tokens for your portfolio? In this article, we have covered the market sentiments and possible short-term price analysis of Avalanche (AVAX) crypto token.
AVAX Price Breaks Its Important Resistance Level!
With a jump of 6.11% in the past day and a trading volume of over $2 billion, the Avalanche price has reclaimed the $34. Moreover, this altcoin has jumped 46.51% in the past seven days and 16.99% during the past 30 days.
The Moving Average Convergence Divergence (MACD) has a rising green histogram with its averages showing a constant uptrend. This suggests that the altcoin may continue gaining value this week.
Further, the SMA indicator supports the AVAX price chart in the 1D time frame. This highlights an increase in the buying pressure for the Avalanche price in the market.
Will AVAX Price Hit $50 This November?
Suppose, the bullish sentiment sustains, this could push the Avalanche token toward its resistance level of $40. Maintaining the price above that level could set the stage for it to head toward its upper resistance level of $50 during the upcoming time.
On the flip side, if the bears overpowered the bulls, this could result in it retesting its support level of $31.50. Moreover, if the bearish sentiment intensifies, this could pull the price toward its lower support trendline of $24.30 this month.
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Analysts Warn of Correction for Bitcoin as It Strengthens Against Gold! Share New Price
Predictions!
Bitcoin (BTC) has had an incredible rise in recent days, exceeding $ 89,000 and rising to the $ 90,000 mark.
While this rise increased investors' expectations of an increase, QCP Capital analysts stated that Bitcoin futures-based returns reached a 7- month peak and leveraged transactions increased.
Analysts warned investors about a possible correction, stating that futures-based returns historically do not last very long and that such increases are followed by corrections.
With Bitcoin hovering just below the critical $90,000 level, analysts noted that the base rate at the end of November had exceeded 18%, saying:
"Increased leverage and high base yields are at 7-month highs. While Bitcoin remains structurally bullish, we caution against any pullbacks, particularly from leveraged liquidations, because historically such increases in base yields have not lasted very long."
Analysts warned of a pullback due to leveraged positions, but added that there was strong demand in the options market, with significant interest in expiry prices of $110,000 and $120,000.
Bitcoin Could Hit $97,000!
QCP Capital analysts recently noted that Bitcoin solidified the 'digital gold' narrative with a 30% increase after the election.
Analysts noted that Bitcoin has increased by 30% since the US elections, while gold has fallen by 5%, strengthening BTC's role as "digital gold".
Analysts have said a 1% reallocation from gold to Bitcoin could send BTC to $97,000 as investor interest and leverage intensify with calls for greater upside potential.
"Recently, capital has been reallocated from traditional safe havens like gold to BTC.
Currently at $1.73 trillion, Bitcoin's market cap recently surpassed silver's but remains well below gold's $17.5 trillion.
Even if 1% of the capital flowing from gold into BTC, it could push Bitcoin to around $97,000."
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🚀 Buckle up, crypto enthusiasts! While Trump’s win might have given Bitcoin a nudge, the real star of the show is the post-halving supply shock! 🎉
With block rewards slashed in half, Bitcoin's scarcity is the name of the game. Demand is skyrocketing, especially with Bitcoin ETFs gobbling up more BTC than miners can produce. It's like trying to fit a whale into a kiddie pool! 🐳
Expect prices to soar as the halving cycle works its magic once again. Feeling FOMO? Don't worry, you're still early to the party! 🎈
What do you think? Is Bitcoin the new gold? Drop your thoughts below! 👇
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🔗 Built on the Solana blockchain, BetHog offers transparency with "provably fair" games, using SOL, BTC, ETH, and USDT. While expanding globally, it's unavailable in the U.S. and U.K. What do you think about blockchain in gaming? Share your thoughts below!
🚨 $DOGE /USDT 4-Hour Trading Signal Alert 🚨
Overview: DOGE/USDT has shown significant upward momentum recently, rising sharply by 23% over the past 24 hours. However, the coin is facing some selling pressure after reaching a high at 0.43858, which suggests potential resistance in the area. The current price is sitting at 0.35410, with the market appearing to consolidate and test its recent gains.
Current Price: 0.35410
Entry Price: Consider entries around 0.35410 with confirmation of support holding at this level.
Critical Levels:
Resistance: 0.43858 – Breaking above this resistance may signal further upward movement.
Support: 0.28663 – This is the recent low and a key support level to watch for potential downward movement if broken.
Take-Profit Targets:
1. TP1: 0.38500 – Near-term target for profit-taking if momentum sustains.
2. TP2: 0.42000 – Secondary target, where resistance may strengthen.
3. TP3: 0.45000 – Longer-term target in case of a strong breakout.
Stop Loss: Set at 0.30000 to limit downside risk if the price fails to hold above support.
Caution: Traders should watch closely for stability around 0.35410. A failure to hold this level could signal a pullback, while sustained movement above could indicate bullish momentum toward higher targets.
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XRP is showing mixed performance amid Bitcoin’s all-time high, with analysts predicting a massive bull run to start in seven weeks based on historical post-halving trends.
Today, XRP registered a loss of 4% in its 24-hour performance, trading at $0.5841. This comes despite Bitcoin reaching an all-time high above $82K, with over 3% gains today.
Meanwhile, at its current price, XRP is 14% higher than its lower threshold from a week ago. XRP even reached a multi-week high of $0.616 yesterday before the recent retracement. However, when looking at the weekly performance of other top-ranking assets—Bitcoin included—XRP’s gains appear relatively modest.
For example, Cardano (ADA) and Dogecoin (DOGE) have surged by over 80% this week despite recent pullbacks. XRP’s weaker performance compared to its rivals has sparked significant discussion in the crypto community, with analysts attempting to provide reasons for holders to remain bullish on XRP.
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