Ethereum

Satoshi

when

Avalanche

<p><a href="https://coinmarketcap.com/currencies/avalanche/" target="_blank" rel="noopener noreferrer nofollow">Avalanche (AVAX)</a> has demonstrated some strength in the cryptocurrency market, posting an 8% gain. The upward trajectory for AVAX began three days ago when selling pressure began to ease, signaling what appeared to be the start of a price retracement.&nbsp;</p>
<p>Since then, the asset has closed in the green for three consecutive days, with yesterday marking a milestone as AVAX broke through a critical resistance level at $28.6. This breakthrough has likely bolstered investor confidence, potentially encouraging further buying at this new support level.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="484" src="https://captainaltcoin.com/wp-content/uploads/2024/06/image-1059-1024x484.png" alt="" class="wp-image-516630" srcset="https://captainaltcoin.com/wp-content/uploads/2024/06/image-1059-1024x484.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-1059-300x142.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-1059-768x363.png 768w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-1059-1536x726.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-1059-2048x968.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-1059-317x150.png 317w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-1059-100x47.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-1059-740x350.png 740w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-1059-788x372.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-1059.png 1963w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<h2 class="wp-block-heading" id="challenges-ahead-the-major-hurdle">Challenges Ahead: The Major Hurdle</h2>
<p>Despite the positive momentum, AVAX still faces a considerable challenge. Since mid-March, the price action has been predominantly bearish, consistently encountering resistance at a descending trendline.&nbsp;</p>
<p>For AVAX to truly shift into a bullish phase, it must overcome this trendline resistance, which currently stands as the major hurdle ahead. Should this resistance persist, the current price movement may prove to be merely a retracement within a larger bearish trend.</p>
<h2 class="wp-block-heading" id="ecosystem-developments-and-market-sentiment">Ecosystem Developments and Market Sentiment</h2>
<p>Industry observers have noted that Avalanche’s recent performance may be attributed to more than just technical factors. Crypto analyst Beastlorion (@Beastlyorion) shared insights on X.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24AVAX&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$AVAX</a> finally showing some strength while most coins are down. The big IL1 deals they've been closing are going to make Avalanche the most used network very soon. Metcalfe's law will put to the test</p>— Beastlorion <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f53a.png" alt="🔺" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@Beastlyorion) <a href="https://twitter.com/Beastlyorion/status/1806220498763911221?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">June 27, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>Based on the post, a key factor potentially driving AVAX’s price increase is&nbsp; Avalanche’s recent strategic moves in the blockchain space. The platform has been securing significant partnerships and deals, particularly in the Layer 1 (L1) blockchain sector. These collaborations are expected to dramatically increase Avalanche’s network usage and adoption.&nbsp;</p>
<p>The growth of Avalanche aligns with Metcalfe’s law. This law says that the value of a network is related to the number of people using it. As more people join Avalanche through these new partnerships, the network’s overall value and usefulness may grow rapidly.</p>
<div class="wp-block-rehub-colortitlebox rh-colortitlebox" style="text-align:left;border-radius:5px;box-shadow:0 10px 10px #00000007;background-color:#fafafa;color:">
 <div class="rh-colortitle-inbox" style="background-color:var(--rehub-main-color);color:#fbfbfb;border-radius:5px 5px 0 0"><i class="rhicon rhi-bolt-regular rh-colortitlebox-icon" style="color:"></i>
  <div class="rh-colortitle-inbox-label">
   New Meme Coin to Watch Aiming to be Next $BONK, $WIF or $MEW
  </div>
 </div>
 <div class="rh-colortitlebox-text">
  <style scoped>.rh-toggler-open{height:auto !important}
.rh-toggler-open .rh-tgl-show, .rh-toggler-open .rh-tgl-grad{display:none !important}
.rh-toggler-open .rh-tgl-hide{display:block !important}
.rh-tgl-show, .rh-tgl-hide{cursor:pointer}
.rh-contenttoggler *{box-sizing: border-box !important}
.rh-toggler-wrapper{overflow: hidden;transition: all 0.5s ease; padding-bottom: 35px; margin-bottom:30px;box-sizing: content-box !important;position: relative;}
.rh-toggler-wrapper p:last-of-type {margin-bottom: 0;}</style>
  <div class="wp-block-rehub-contenttoggler rh-contenttoggler" data-height="100px">
   <div class="rh-toggler-wrapper" style="height:100px">
    <p><strong><a href="https://mileimoneda.io/?utm_source=marketing&amp;utm_medium=inarticle&amp;utm_campaign=cap&amp;utm_id=s1" target="_blank" rel="noopener noreferrer nofollow">Milei Moneda</a></strong> is a new meme coin inspired by the political and economic views of Javier Milei, an Argentine president&nbsp;known for his libertarian and pro-Bitcoin stance. You have an opportunity with the <strong><a href="https://mileimoneda.io/?utm_source=marketing&amp;utm_medium=inarticle&amp;utm_campaign=cap&amp;utm_id=s1" target="_blank" rel="noopener noreferrer nofollow">ongoing low presale price</a></strong> to get in early!</p>
    <p><em>Sponsored</em></p> <span class="rh-tgl-trigger" style="text-align:center;position:absolute;z-index:2;bottom:0;left:0;width:100%;color:"><span class="rh-tgl-show" style="display:block">Show more +</span><span class="rh-tgl-hide" style="display:none">Show less –</span></span><span class="rh-tgl-grad" style="background-image:linear-gradient(to bottom,rgba(255,255,255,0) 0,#ffffff 100%);display:block;position:absolute;height:100px;bottom:0;left:0;z-index:1;width:100%"></span>
   </div>
  </div>
 </div>
</div>
<p><strong><em>Read Also: <a href="https://captainaltcoin.com/why-is-polkadot-dot-price-up-4/" target="_blank" rel="noopener noreferrer nofollow">Why is Polkadot (DOT) Price Up?</a></em></strong></p>
<h2 class="wp-block-heading" id="ethereum-etf-anticipation">Ethereum ETF Anticipation</h2>
<p>Another factor potentially influencing AVAX’s price movement is the anticipated resumption of Ethereum ETF trading. With several ETFs expected to launch in July, progress on amending offering documents has reached the final stages, with only minor issues left to address before approval.&nbsp;</p>
<p>Avalanche is part of the broader Ethereum ecosystem, and some investors may be accumulating AVAX in anticipation of a potential price surge across Ethereum-related assets.</p>
<p><em><strong>Captain just hit his first 100x among a lot 2-5xs. Want to be a part of a profitable community?<br>Get all our future calls by joining our <a href="https://t.me/captainaltcoincom" target="_blank" rel="noopener noreferrer nofollow">FREE Telegram group.</a></strong></em></p>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/REBEL-SATOSHI-RECQ-MEME-COIN-qndahijqjwle5mml7gg8my30uqig0eo11vxmtat25a.png" width="500" alt="Check $RECQ Meme Coin" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-ll_bottom-target-_blank-rel-noopener-noreferrer-nofollow-span-check-recq-meme-coin-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <span>Check $RECQ Meme Coin</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20">
     Sponsored: Invest Responsibly, Do Your Own Research.
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> Buy RECQ Today </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Serves as the base currency for all transactions within the Rebel Satoshi platform <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>ICO stage, offering tokens at a discounted price <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Facilitates a smooth and efficient economy within the arcade, supporting both arcade and in-game transactions. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Grants access to a diverse range of gaming experiences in the Rebel Satoshi Arcade, <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Contributes to a decentralized, community-driven RebelSatoshi platform that integrates gaming with elements of revolution, freedom, and unity, appealing to users who value such principles.
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/heres-why-avalanche-avax-price-is-pumping/" rel="noopener noreferrer nofollow">Here’s Why Avalanche (AVAX) Price is Pumping</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Here’s Why Avalanche (AVAX) Price is Pumping

Съдържание

CaptainAltcoin

Други статии, публикувани на 28.06.2024 г.

Dfinity Utopia Platform Promises to Revolutionise Cybersecurity with Unmatched Protection and Sov...

Binance Tightens Security Measures to Combat Account Misuse and Enhance Platform Integrity

Bitcoin Holders Hit Sell Button: $10 Billion BTC Dumped in May Alone

Coinbase Partners with Stripe for Crypto Payments

Coinbase Sues SEC and FDIC, Demands Transparency

Crypto's New Titans: BlockDAG Rockets to $54M, While MKR & MATIC Set Their Sights High!

Присъединете се към нашия безплатен бюлетин за ежедневни крипто актуализации!