Read

Avalanche

Velocity

The post <a href="https://coinpedia.org/price-analysis/avax-price-powers-through-25-next-stop-30/">Why Avalanche Price is Up Today? AVAX Price Powers Through $25, Next Stop $30!</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
With the market recovery finding fresh momentum each day, the altcoins are extending their bull run. Under such a high-demand phase, the AVAX price trend is breaking multiple barriers and recovering lost levels.&nbsp; 
With a prolonged uptrend, the Avalanche price is up by almost 200% within the last 50 days, reflecting the growing demand. Further, the uptrend breaks past a crucial mark of $25, signaling a breakout entry opportunity.&nbsp; 
<figure class="wp-block-image size-large">
 <img decoding="async" width="1024" height="479" src="https://image.coinpedia.org/wp-content/uploads/2023/12/06114513/AVAXUSD_2023-12-06_11-44-59-1024x479.png" alt="" class="wp-image-251568" srcset="https://image.coinpedia.org/wp-content/uploads/2023/12/06114513/AVAXUSD_2023-12-06_11-44-59-1024x479.png 1024w, https://image.coinpedia.org/wp-content/uploads/2023/12/06114513/AVAXUSD_2023-12-06_11-44-59-300x140.png 300w, https://image.coinpedia.org/wp-content/uploads/2023/12/06114513/AVAXUSD_2023-12-06_11-44-59-768x359.png 768w, https://image.coinpedia.org/wp-content/uploads/2023/12/06114513/AVAXUSD_2023-12-06_11-44-59-1536x718.png 1536w, https://image.coinpedia.org/wp-content/uploads/2023/12/06114513/AVAXUSD_2023-12-06_11-44-59-150x70.png 150w, https://image.coinpedia.org/wp-content/uploads/2023/12/06114513/AVAXUSD_2023-12-06_11-44-59.png 1814w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure> 
Source – <a href="https://www.tradingview.com/x/Rk1vNWQZ/">Tradingview</a> 
With a triangle breakout in the 4H chart, the short consolidating break returns to the bullish track and picks up the pace. With a boost in the intraday volumes, the AVAX price jumped 25% in the last nine days, making a single bearish candle during the run.&nbsp; 
Crossing the $25 mark, the AVAX price trades at $25.55, showing an intraday growth of 4.07% despite a long wick formation. The buyers anticipate a $25 breakout rally to reach the next stop at $30; however, the cautious players await the closing price to sustain above $25. 
<h2 class="wp-block-heading" id="h-tvl-growth-continues-for-avalanche">TVL Growth Continues For Avalanche</h2> 
Over the last month, the TVL and volume trend for the Avalanche network has shown a positive move. With TVL reaching $1.29B with a volume of $155.45M, the adoption rate of the Avalanche network has been on a splendid rise.&nbsp; 
<figure class="wp-block-image size-large">
 <img decoding="async" width="1024" height="429" src="https://image.coinpedia.org/wp-content/uploads/2023/12/06121654/image-30-1024x429.png" alt="" class="wp-image-251583" srcset="https://image.coinpedia.org/wp-content/uploads/2023/12/06121654/image-30-1024x429.png 1024w, https://image.coinpedia.org/wp-content/uploads/2023/12/06121654/image-30-300x126.png 300w, https://image.coinpedia.org/wp-content/uploads/2023/12/06121654/image-30-768x322.png 768w, https://image.coinpedia.org/wp-content/uploads/2023/12/06121654/image-30-150x63.png 150w, https://image.coinpedia.org/wp-content/uploads/2023/12/06121654/image-30.png 1526w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure> 
Source- <a href="https://defillama.com/chain/Avalanche?volume=true">DefiLlama</a> 
The increased trust and adoption towards the Avalanche network reflects an improving market sentiment and boosts the AVAX price. Further, the increased liquidity in the network may soon result in users executing large transactions over the network, reflecting the improving health of the Avalanche network. 
Read more about the upcoming Avalanche price trend 2024 in our <a href="https://coinpedia.org/price-prediction/avalanche-avax-price-prediction/">AVAX Price Prediction</a>. 
Technical indicators:&nbsp; 
RSI: The daily RSI line seeps into the overbought territory and signals a remarkable increase in the underlying demand. Further, the lack of bearish divergence increases the possibility of an uptrend. Therefore, the momentum indicator maintains a bullish standpoint for the Avalanche price trend.&nbsp; 
MACD: The MACD and signal lines give a bullish crossover and teases a trend continuation for AVAX price. 
<h2 class="wp-block-heading" id="h-will-avax-price-reach-escape-velocity-to-cross-30">Will AVAX Price Reach Escape Velocity To Cross $30?</h2> 
While the market recovery and improving sentiments are the critical reasons for the AVAX price jump, the improving network health attracts new investors. Further, the price analysis signals a strong uptrend with a growing possibility of a bull run to $30.&nbsp; 
However, the rising momentum and the improving market health tease a bull run beyond $30. Under such scenarios, the uptrend can reach the $36 mark.&nbsp; 
However, the Avalanche market value can retest $25 if a supply wave jumps in.

Why Avalanche Price is Up Today? AVAX Price Powers Through $25, Next Stop $30!

Table of Contents

CoinPedia News

Other articles published on Dec 6, 2023

Coinbase Revolutionise Money Transfers and Enhance Crypto Transactions

NEAR Coin Shows Signs of Revival After Reaching Highest Level Since April

DEBT Box to Request Dismissal of Case Amidst SEC Allegedly Lied

Spending just 100U can earn you a whopping 100,000U! The inscription is sparking a crazy bull mar...

Ho-ho-ho! BetFury Holds $800 000 Xmas Event!

Just In: Bitzlato Co-Founder to Plead Guilty in U.S. Court

Join our free newsletter for daily crypto updates!