Ethereum

Rally

Resistance

Avalanche

Coin

<ul class="news-points">
 <li>AVAX price surges 12.43% to $40.65, hitting a 30-day high.</li>
 <li>Bullish momentum pushes market cap and trading volume jump by 12.44% and 138.78%.</li>
 <li>AVAXUSD technical indicators point to potential resistance at $45 and $50.</li>
</ul>
Avalanche (AVAX) has been experiencing a significant upswing over the past 24 hours, with support established at $35.74. The bullish trend propelled AVAX’s price to a 30-day high of $41.06 before it encountered resistance. At the time of writing, AVAX is trading at $40.65, marking a surge of 12.43% from its intra-day low.&nbsp;
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/e4kru4hlyY1ptUtYu20IpiIrNJv3xM80t1_LpFbMTN8AbMvnLNnPIE7SflBB7I2rvcnT9VJybEMj7ilJdclgnWJ45v3GNQCc_Wg33bi3PykKN35HFvP3vIt1CxU3EIfwQreV89nfgnZz8ItvK-UswUw" alt="">
</figure>
AVAX/USD 24-hour price chart (source: <a href="https://coinmarketcap.com/currencies/avalanche/#News" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap</a>)
During this rally, the market capitalization and 24-hour trading volume of AVAX increased by 12.44% and 138.78%, respectively, to $15.56 billion and $828.9 million.
<h2 class="wp-block-heading" id="h-market-influences-and-the-ethereum-connection">Market Influences and the Ethereum Connection</h2>
The recent rally in <a href="https://coinedition.com/how-blastup-could-redefine-crypto-space-in-2024-and-what-should-avalanche-and-polkadot-holders-do/" rel="noopener noreferrer nofollow">AVAX </a>can be partly attributed to the broader market optimism spurred by significant developments in the Ethereum ecosystem. Notably, crypto analyst KALEO <a href="https://www.binance.com/en/square/post/1656516" target="_blank" rel="noopener noreferrer nofollow">hinted</a> at a potential bullish season for Ethereum Virtual Machine (EVM) compatible Layer 1 (L1) solutions, triggered by news of a potential approval for a <a href="https://coinedition.com/green-light-for-ethereum-etfs-analyst-says-odds-are-looking-up/" rel="noopener noreferrer nofollow">spot Ethereum ETF</a>.&nbsp;
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 <a href="https://twitter.com/search?q=%24AVAX&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$AVAX…</a>
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The post <a href="https://coinedition.com/avalanche-avax-12-bull-rally-hits-30-day-high-will-the-resistance-hold/" rel="noopener noreferrer nofollow">Avalanche (AVAX) 12% Bull Rally Hits 30-Day High:&nbsp; Will the Resistance Hold?</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Avalanche (AVAX) 12% Bull Rally Hits 30-Day High: Will the Resistance Hold?

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