🔥Crypto Whales Scoop Up a Staggering 52 Million Avalanche (AVAX) Tokens! 🤯
Avalanche (AVAX) has taken a hit recently, slipping below the $50 mark on the daily chart. Yet, amidst the downturn, a surge of optimism is emerging, fueled by a notable influx of interest from crypto whales – big-time investors holding between $1 million to $10 million worth of AVAX.
In just three days since April kicked off, these whales have collectively snapped up a whopping 52 million AVAX, valued at over $2.1 billion. This massive investment signals their strong belief in AVAX's potential for a comeback.
Avalanche is carving out its own path in the crypto landscape. Unlike many others, its correlation with Bitcoin sits at a low 0.17. This means that while it may still follow general market trends, its price movements won’t be as tightly tethered to Bitcoin's ups and downs.
This independence could spell big gains. A low correlation suggests AVAX can move independently, rather than simply mirroring Bitcoin's every move.
Given these dynamics, AVAX could be eyeing a significant upswing, possibly pushing up by 23.5% from its current $47.32 price tag, aiming for the $60 mark. That's just above its year-to-date high of $65.
But it won't be a walk in the park. AVAX needs to break through resistance levels at $50, $53, and $58. The $53 barrier, in particular, has proven tough to crack, having been tested repeatedly.
If AVAX struggles to overcome these hurdles, especially the $53 mark, it might lose its bullish momentum and face a reversal. In such a scenario, the optimistic forecast could evaporate, and AVAX might find itself slipping back below $50.
#Memecoins #AVAX #BTC #HotTrends #TrendingTopic
Avalanche (AVAX) has taken a hit recently, slipping below the $50 mark on the daily chart. Yet, amidst the downturn, a surge of optimism is emerging, fueled by a notable influx of interest from crypto whales – big-time investors holding between $1 million to $10 million worth of AVAX.
In just three days since April kicked off, these whales have collectively snapped up a whopping 52 million AVAX, valued at over $2.1 billion. This massive investment signals their strong belief in AVAX's potential for a comeback.
Avalanche is carving out its own path in the crypto landscape. Unlike many others, its correlation with Bitcoin sits at a low 0.17. This means that while it may still follow general market trends, its price movements won’t be as tightly tethered to Bitcoin's ups and downs.
This independence could spell big gains. A low correlation suggests AVAX can move independently, rather than simply mirroring Bitcoin's every move.
Given these dynamics, AVAX could be eyeing a significant upswing, possibly pushing up by 23.5% from its current $47.32 price tag, aiming for the $60 mark. That's just above its year-to-date high of $65.
But it won't be a walk in the park. AVAX needs to break through resistance levels at $50, $53, and $58. The $53 barrier, in particular, has proven tough to crack, having been tested repeatedly.
If AVAX struggles to overcome these hurdles, especially the $53 mark, it might lose its bullish momentum and face a reversal. In such a scenario, the optimistic forecast could evaporate, and AVAX might find itself slipping back below $50.
#Memecoins #AVAX #BTC #HotTrends #TrendingTopic
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