Avalanche

Polkadot

The cryptocurrency domain has recently displayed remarkable resilience, particularly following the high-profile $4.3 billion <a href="https://cryptodaily.co.uk/2023/11/binance-faces-record-breaking-penalty-as-doj-seeks-4-billion" rel="noopener noreferrer nofollow">Binance-DOJ settlement</a> – talk about a record-breaker. But unlike the FTX mess, this was all about Binance getting tangled in regulatory issues, not about them messing up with customer funds. This little detail is a big deal as it means the rest of the market might not catch a cold from Binance&#39;s sneeze. Bitcoin and Ethereum have shown mixed reactions: BTC <a href="https://cryptodaily.co.uk/2023/11/bitcoin-first-stop-40000-with-target-of-48000-going-into-2024" rel="noopener noreferrer nofollow">managed to peek</a> at $38,440 yesterday, but then took a slight dip, while ETH had a bit of a climb to above $2,100 on November 24 before sliding back down. And guess who’s smiling through all this? Decentralized exchanges like Uniswap – their <a href="https://cryptodaily.co.uk/2023/11/can-pancakeswap-cake-and-uniswap-uni-green-streak-escalate-to-yearly-triumphs" rel="noopener noreferrer nofollow">UNI token&#39;s value</a> shot up by more than 21%, indicating a shift in investor interest towards alternatives to centralized platforms.Today, a bunch of top cryptocurrencies, including Avalanche (AVAX) and Polkadot (DOT), are seeing red after Wall Street woke up to some surprisingly good GDP news. It’s like the crypto market is on a seesaw with the US economy, but there&#39;s a silver lining with the looming Fed decisions: the potential for a rate cut instills a sense of optimism for the long-term prospects of digital assets. In the midst of all this, there&#39;s this new kid on the block – <a href="https://scapesmania.io/?utm_source&#61;cryptodaily&amp;utm_medium&#61;mmedia&amp;utm_campaign&#61;AVAXDOT" rel="noopener noreferrer nofollow">ScapesMania</a> (MANIA). With some smart tokenomics, exclusive presale perks and the team’s commitment to transparency, bolstered by vision to make everyone involved a winner, MANIA could be the dark horse in the crypto race.ScapesMania: Unveiling A New Realm Of Transparent CryptoWhile some are facing an uncertain future, the trajectory of a presale project is far easier to predict. ScapesMania (MANIA) is a well-balanced, meticulously designed project that acts as a gaming ecosystem. Through DAO governance, backers will be able to influence and benefit from a multi-billion-dollar industry. A wide range of features paired with the best technology, a professional team, and a long-term, highly ambitious vision can make ScapesMania the next big thing in crypto. Presale discounts and stage bonuses only add to the project&#39;s appeal.<h2 id="header-0">Presale is Live Now - Join Now for a Chance to Benefit with MANIA</h2>Backed by an award-winning developer crew, ScapesMania stands for transparency: every member’s social media profile is public. The project can achieve this not just by bringing big innovation to the game, but by putting its community front and center. Driving customer engagement and making sure that everyone benefits through great tokenomics and generous rewards is what makes ScapesMania the project with a bright future ahead.<a href="https://scapesmania.io/?utm_source&#61;cryptodaily&amp;utm_medium&#61;mmedia&amp;utm_campaign&#61;AVAXDOT" rel="noopener noreferrer nofollow">Presale is Live, Learn More About Major Benefits</a>Avalanche (AVAX) Technical AnalysisAvalanche (AVAX) grabbed the spotlight after Colony Lab&#39;s big announcement on November 21: they revealed <a href="https://cryptodaily.co.uk/2023/11/avalanche-avax-and-chainlink-link-on-the-rise-should-you-jump-on-the-bandwagon" rel="noopener noreferrer nofollow">a substantial $10 million commitment</a> to bolster the ecosystem, including the purchase of 500,000 AVAX and the launch of the validators program. Additionally, they&#39;re diving into the Colony Avalanche Index (CAI), spicing it up with AVAX and Trader Joe&#39;s JOE to attract more investors. But despite this financial infusion, the Avalanche (AVAX) price actually slipped by about 2% since the news broke. Analysts are chalking this up to a classic price correction following a sharp rally, and they&#39;re expecting AVAX to zigzag sideways for a while, at least until some major news shakes things up.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/5e6171782c124b92b1ffc107b6678e71.png" />Source: <a href="https://www.tradingview.com/chart/3rzIBxxK/?symbol&#61;BINANCE%3AAVAXUSD" rel="noopener noreferrer nofollow">TradingView</a>Right now, Avalanche (AVAX) is nestled between its immediate support at $20.49 and resistance at $21.52, the levels shaping its short-term trajectory. The price&#39;s dance around the 9-day moving average, especially with the little stalls at $21.34 and $20.75, shows the market can&#39;t quite make up its mind. The 14-day RSI and the 14-3 day Raw Stochastic both approaching 70% are giving off some overbought vibes, suggesting AVAX might be due for a bit of a breather. The MACD&#39;s mixed signals, with pauses at $20.15 and $20.98, are throwing a bit of uncertainty into the mix, making it tricky to guess the altcoin’s next move.<h2 id="header-1">Avalanche (AVAX) Price Prediction</h2>So what&#39;s next for Avalanche (AVAX)? If we&#39;re betting on the bullish side, the increased network activity from Colony Labs&#39; cash infusion, combined with the <a href="https://cryptodaily.co.uk/2023/11/whispers-from-the-sec-is-ripples-stealthy-session-set-to-surge-xrp-price" rel="noopener noreferrer nofollow">crypto market&#39;s buzz</a> around Bitcoin&#39;s halving and ETF excitement, could send AVAX flying past its current resistance to the next targets at $22.05 and $22.55. We might even see token take a shot at its 1-month high of $24.62. But if the bearish winds blow, and the market doesn’t quite catch the hype around Colony Labs’ investment, Avalanche (AVAX) could start sliding back down. We&#39;d be eyeing those lower supports at $19.98 and even $19.45, wondering if it dips further to its 1-month low of $10.9.Polkadot (DOT) Technical AnalysisPolkadot (DOT) has been making some waves, but not all of them are the good kind. In the last couple of weeks, DOT saw a 10% loss, which is pretty steep, even though it also saw a 16% bump earlier in the month. This rollercoaster ride is part of the broader crypto market&#39;s recovery phase and the <a href="https://cryptodaily.co.uk/2023/11/whispers-of-a-turn-for-solana-sol-and-polkadot-dot-stir-crypto-curiosity" rel="noopener noreferrer nofollow">anticipation around Polkadot 2.0</a> is feeding into this narrative. The much-anticipated update is set to fix a bunch of issues on the platform and really thrust DOT above its current resistance levels. If Polkadot 2.0 hits the mark, we could see DOT breaking through the ceiling and reclaiming its spot as a top dog in the blockchain world.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/5955950ac36048e2adf1f99c2c91d500.png" />Source: <a href="https://www.tradingview.com/chart/3rzIBxxK/?symbol&#61;BINANCE%3ADOTUSD" rel="noopener noreferrer nofollow">TradingView</a>From a technical standpoint, Polkadot (DOT) is currently trading between the support at $5.12 and the resistance at $5.31. This positioning is critical as the token hovers around the $5.2 level, where its price has crossed the 18-day moving average, which has got some traders thinking DOT might be gearing up for a rally. The 14-day RSI standing at 50% and the 14-3 day Raw Stochastic at 30% further fuel this optimism, suggesting a neutral to slightly bullish sentiment in the short term. But the market&#39;s sending some hesitation signals, like a stalled MACD oscillator at $5.13. Adding to this mix are some <a href="https://cryptodaily.co.uk/2023/11/polkadot-dot-and-polygon-matic-ride-the-crypto-wave-whats-behind-the-surge" rel="noopener noreferrer nofollow">great moves</a> in the Polkadot (DOT) backyard – they&#39;re fighting scams and moving towards more decentralized control, which is a big thumbs up for long-term stability and investor appeal.<h2 id="header-2">Polkadot (DOT) Price Prediction</h2>So, what&#39;s the future look like for DOT? If Polkadot 2.0 delivers on its big promises, we could see the asset shooting past its current resistance and aiming for heights like the more distant barriers at $5.51 and $5.44 and even the recent 1-month high of $5.87. However, there&#39;s always a &#39;but&#39;: if things don&#39;t pan out or the broader market keeps throwing curveballs, Polkadot (DOT) might backslide towards the $5.12 and $4.92 supports or even further, to the 1-month low of $4.33.There&#39;s also an interesting twist with the Web3 Foundation, which is behind Polkadot (DOT). They&#39;re <a href="https://twitter.com/FabianGompf/status/1729895905938096349?ref_src&#61;twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1729895905938096349%7Ctwgr%5E77c6bcddb51b24d8375d177f2ae6f2334a82987b%7Ctwcon%5Es1_c10&amp;ref_url&#61;https%3A%2F%2Fblockster.com%2Fweb3-foundation-empowers-defi-with-1m-investment-in-centrifuges-real-world-assets%3Futm_source%3DCryptoNewsutm_medium%3Dapp" rel="noopener noreferrer nofollow">getting into real-world assets</a>, investing in the US treasury bills on-chain, a move showing the project’s developers are playing a bigger game which holds the potential to enhance the standing of DOT in the long run.BottomlineAvalanche (AVAX) and Polkadot (DOT) are the talk of the crypto town these days. AVAX, fresh off a cash boost from Colony Lab, is dancing on a tightrope between key levels – it could either shoot for the stars or take a nosedive, depending on how the crypto winds blow. Meanwhile, DOT is gearing up for its big Polkadot 2.0 update, which could send its value on a rocket ride to new heights or, if things don&#39;t go as planned, into a bit of a tumble. Both Avalanche (AVAX) and Polkadot (DOT) are at a crossroads, perfectly capturing the wild, unpredictable spirit of the crypto world, where fortunes can flip at the drop of a hat.Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.RELATED TOPICS: <a href="https://cryptodaily.co.uk/tag/altcoins" rel="noopener noreferrer nofollow">#ALTCOINS</a> <a href="https://cryptodaily.co.uk/tag/breaking-news" rel="noopener noreferrer nofollow">#BREAKING NEWS</a> <a href="https://cryptodaily.co.uk/tag/spotlight" rel="noopener noreferrer nofollow">#SPOTLIGHT</a>

Can Avalanche (AVAX) And Polkadot (DOT) Overcome Red Market Challenges For A Strong Year-End Rally?

Table of Contents

Crypto Daily™

Other articles published on Nov 30, 2023

XRP’s Spotlight: Key Role in Federal Reserve’s CBDC Talks

Nexo Integrates Koinly to Deliver Free Tax Calculation for Its Users

Celsius Opens Withdrawal Options for Eligible Cryptocurrency Investors

Hong Kong securities association proposes Initial Coin Offering (ICO) mechanism

Australia’s battle plan against crypto scammers

XRP Community is Engaging in Conspiracy Theory: Charles Hoskinson

Join our free newsletter for daily crypto updates!