Shiba

Flow

World

Shiba Inu

Avalanche

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/avalanche-avax-continues-to-climb-in-the-crypto-market/" data-wpel-link="internal">Avalanche (AVAX) Continues to Climb in the Crypto Market</a><br></p>
<p style="text-align: justify">Unlike most altcoins in the cryptocurrency <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">markets</a>, <strong>Avalanche (AVAX)</strong> bulls manage to maintain their position while continuing the token price increase trend. According to experts, the cryptocurrency’s price has reached a critical level that could trigger a bull rally and enabled it to make Shiba Inu (SHIB) the 11th largest crypto.</p> 
<h2 id="analyst-views-on-avax">Analyst Views on AVAX</h2> 
<p style="text-align: justify">According to data from <strong>21milyon.com</strong>, AVAX’s price has increased by more than 7% in the last seven days. Additionally, the token’s value has increased by over 4% in the last 24 hours. At the time of writing, Avalanche is trading at $37.09 with a <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">market</a> cap of over $14 billion, making it the 12th largest cryptocurrency.</p> 
<p style="text-align: justify">A popular <strong>cryptocurrency</strong> analyst from World Of Charts recently highlighted a falling wedge pattern that appeared on AVAX’s 4-hour chart in a tweet. According to the expert, if the token can achieve this, <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">investors</a> can expect a significant bull rally.</p> 
<p style="text-align: justify">The upcoming rally could also allow <strong>AVAX</strong> to overtake SHIB. This is because the difference in their market values is only $400 million. Analysis related to Glassnode data revealed more concerns for SHIB. SHIB’s NVT ratio recorded a rise, indicating a price drop. The price drop of SHIB could help AVAX overtake the <a href="https://en.coin-turk.com/recent-trends-and-challenges-in-meme-coin-markets/" data-wpel-link="internal">meme token</a> if it breaks out of the falling wedge.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-348120 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/avac.jpg" alt="" width="1282" height="428"></p> 
<h2 id="bullish-outlook-for-avax">Bullish Outlook for AVAX</h2> 
<p style="text-align: justify">This situation indicated that the bull rally could continue and allow AVAX to break out of the falling wedge. However, sentiment towards <strong>AVAX</strong> continued to be bearish due to the sustained low weighted sentiment. The Chaikin Money Flow (CMF) supported the possibility of a breakout as it recorded a rise and moved further above the neutral level.</p> 
<p style="text-align: justify">Moreover, the MACD also displayed a bullish crossover, indicating that the price increase could continue. However, both the Relative Strength Index (RSI) and the Money Flow Index (MFI) maintained a horizontal trend over the past few days, continuing the bearish trend.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/avalanche-avax-continues-to-climb-in-the-crypto-market/" data-wpel-link="internal">Avalanche (AVAX) Continues to Climb in the Crypto Market</a></h5>

Avalanche (AVAX) Continues to Climb in the Crypto Market

Table of Contents

COINTURK NEWS

Muita 6. toukok. 2024 julkaistuja artikkeleja

Binance Announces Delisting of Six Major Trading Pairs: Impact on Crypto Market (BTC, ETH, BNB)

DOGE Price Surges Following Tesla's Adoption - Will It Reach $0.3 Level?

Ripple’s Chief Technology Officer Teases Ripple’s USD Stablecoin Launch

Expert Analysis: Vaishali Parekh’s Top Three Stock Recommendations for Today, May 6 – A Deep Dive...

XRP Ledger To Undergo Major Upgrades: What To Expect

The BEFE Coin Phenomenon: Today’s Premier Meme Coin Investment

Join our free newsletter for daily crypto updates!