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<ul>
 <li>Avalanche rapidly surged, gaining 31% in 24 hours and over 48% weekly.</li>
 <li>Investors are watching if AVAX can break the $22 resistance.</li>
 <li>If the resistance zone is breached, AVAX has the potential for a parabolic run to $60.</li>
</ul>
Avalanche (AVAX) has experienced a remarkable surge, catapulting its value by an impressive 31% in the last 24 hours and an astonishing 48% over the course of the week.&nbsp;
The current positive momentum aligns with a broader optimistic trend in the cryptocurrency market, where investors are showing increased interest in various digital assets. Despite Bitcoin maintaining its position above $37,000, the majority of altcoins, including Avalanche, appear poised to capitalize on this evolving market sentiment.
At the time of writing, the AVAX token stands at $18.58, showcasing its strength with the notable price surge. The cryptocurrency had hit a yearly low of $8.78 in late September, marking a turning point for a bullish reversal. AVAX now aims to reclaim its earlier 2023 highs.
The surge in Avalanche’s price is not merely a short-term anomaly. A closer examination of the price chart reveals that the value of <a href="https://www.coingecko.com/en/coins/avalanche" rel="noopener noreferrer nofollow">AVAX</a> has more than doubled in the past month.&nbsp;
This surge also corresponds with an 85% increase in daily trading volume and a 31% jump in the token’s market cap, which currently sits at approximately $6.68 billion. Investor attention is now keenly focused on whether <a href="https://www.tradingview.com/x/v94FQTWy/" rel="noopener noreferrer nofollow">Avalanche</a> can break through the $22 resistance level.&nbsp;
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/qjgW8-SvQYOe7ovkAO6UhP9qQHvSQDceiE315HDtRbeeNE8B1LD6VW-LeP4K7pXimle1Mk2O5Hm0lGTVfBIc_Mfqj9zlM2yFsLv92X-Yqn7YY8Z8hNgX06R2nXf_E4g3mKxMMSaIMm4hA9zQVYKWrPFXhHKBmsKZyXQTzvhnY7GlrYZ6Y81EPItSG4Hq3A" alt="">
</figure>
Source: TradingView
If successful, the cryptocurrency could embark on a parabolic run, potentially reaching $60. Notably, AVAX has a historical precedent of being one of the best performers in previous bull markets, rallying to a peak of $145.
<h4 class="wp-block-heading" id="h-read-also">Read also:</h4>
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 <li><a href="https://cryptonewsland.com/10-reasons-why-bitcoin-is-poised-for-parabolic-growth-this-cycle/" rel="noopener noreferrer nofollow">10 Reasons Why Bitcoin Is Poised for Parabolic Growth This Cycle</a></li>
 <li><a href="https://cryptonewsland.com/avalanches-potential-bounce-back-what-traders-should-know/" rel="noopener noreferrer nofollow">Avalanche’s Potential Bounce-Back: What Traders Should Know</a></li>
 <li><a href="https://cryptonewsland.com/avalanche-rocks-the-internet-with-105-surge-in-daily-users/" rel="noopener noreferrer nofollow">Avalanche Rocks the Internet with 105% Surge in Daily Users</a></li>
 <li><a href="https://cryptonewsland.com/avalanche-avax-price-prediction/" rel="noopener noreferrer nofollow">Avalanche (AVAX) Price Prediction 2023 to 2031: Is $50 EOY Price Possible?</a></li>
 <li><a href="https://cryptonewsland.com/amazon-web-services-partnership-aws-boosts-avalanche-avax-price/" rel="noopener noreferrer nofollow">Amazon Web Services Partnership (AWS) Boosts Avalanche (AVAX) Price</a></li>
</ul>
The post <a href="https://cryptonewsland.com/avalanche-surges-31-can-it-break-22-and-spark-a-60-rally/" rel="noopener noreferrer nofollow">Avalanche Surges 31%: Can It Break $22 and Spark a $60 Rally?</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.

Avalanche Surges 31%: Can It Break $22 and Spark a $60 Rally?

Crypto News Land

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