Avalanche

<ul>
 <li>Avalanche (AVAX) shows gains amid crypto market pullback post-Fed’s rate decision.</li>
 <li>AVAX is now priced at $36.38, marking a 6.37% increase in the last 24 hours.</li>
</ul>
Following the Federal Reserve’s recent interest rate decision, which was unchanged, the cryptocurrency market witnessed a pullback. Avalanche (AVAX) emerged as a standout player, displaying resilience amidst the <a href="https://thenewscrypto.com/bitcoin-faces-brief-correction-as-fomc-decision-looms/" target="_blank" rel="noopener noreferrer nofollow">decline observed</a> across major cryptocurrencies. Over the past 24 hours, AVAX experienced a 6.37% increase in market value, coupled with a 61.69% rally in trading volume, according to data from CoinMarketCap.
<h3 class="wp-block-heading" id="h-avalanche-avax-signals-potential-price-surge">Avalanche (AVAX) Signals Potential Price Surge</h3>
As fear of missing out (FOMO) drove an increase in short positions among investors, AVAX remained bullish, signaling a potential major price upswing driven by heightened <a href="https://thenewscrypto.com/ava-labs-unveils-vryx-scaling-solution-for-avalanche-blockchain/" target="_blank" rel="noopener noreferrer nofollow">interest in the project</a>.
In mid-2022, Avalanche saw a correction, plummeting from $60 to $11, marking a significant 81% decline. Since then, AVAX has traded in the range of $15 to $8. Despite this setback, bullish momentum persisted in Q4 of 2023, propelling the price back to the $48 range.
Analyzing recent price movements, Avalanche is exhibiting bullish signs, with notable performance increases of 73.53% in the year to date. Further, the current price structure of AVAX signals a recovery, evident as the <a href="https://thenewscrypto.com/avalanche-avax-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">price rebounds</a> accompanied by a decrease in selling pressure.&nbsp;
If the trend continues, the crypto price could surge further, targeting $40 and $45 initially, with subsequent targets set at $60. At the same time, potential declines could see prices retracing to the $32 range, with further support below the $30 level.
At the time of writing, Avalanche traded at $36.38 with a daily trading volume of over $745 million and a market cap of $13.2 billion.

Can Avalanche (AVAX) Surpass the $50 Mark?

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