🔥🔥🔥 Can Avalanche Price Hit $50 By End Of September?
Avalanche ($AVAX ) Price Resurgence Driven by Bullish Momentum
Avalanche (AVAX), a leading layer-one blockchain, is experiencing a resurgence in its bullish trend according to recent technical indicators. AVAX's price is currently on a robust upward trajectory, supported by broader market recoveries. This positive momentum reflects growing optimism within the cryptocurrency market as a whole.
Avalanche Targets 97% Growth Amid ParaFi Innovation
Over the past week, AVAX has surged by 15%, spurred by innovations in tokenization and a strong crypto market. In collaboration with Securitize, ParaFi Capital has successfully tokenized a portion of its venture fund on the Avalanche blockchain. This move enhances transparency and broadens investor access to ParaFi’s strategies. The growing tokenized assets sector continues to expand, making this development timely.
Additionally, the overall crypto market is performing well, with Bitcoin surpassing $60,000 and Ethereum gaining 4%. These favorable conditions suggest that Avalanche could see further gains in the near future.
AVAX Eyes Critical $30 Resistance Level
As of now, AVAX is trading at $24.88, up 4.46% during U.S. trading hours. The cryptocurrency saw a recovery from a daily low of $23.69, reaching a high of $25.09 before stabilizing. Positive sentiment in the market, reflected by increased trading volume and price action, indicates growing buyer interest.
AVAX is approaching key resistance at $25, with potential to rise to $30. Analysts predict it could reach $50 by month's end and possibly climb to $60 in the next rally if bullish momentum continues.
Technical Indicators Signal Strong Support
AVAX's daily technical indicators show a bullish outlook, with the Awesome Oscillator turning positive and strong trading volume of 18.55 million. An in-the-money segment of 28.22 million AVAX, worth $703.23 million, provides solid support, likely driving further price increases and attracting more investors.
Source - coingape.com
