Token

Cryptocurrency

Impact

Avalanche

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/avalanche-token-climbs-above-50-as-trading-volume-soars" rel="noopener noreferrer nofollow">Avalanche Token Climbs Above $50 as Trading Volume Soars</a><br></p>
<p style="text-align: justify">The Avalanche (AVAX) <a href="https://en.bitcoinhaber.net/declining-btc-eth-correlation-sparks-curiosity-in-crypto-dynamics" rel="noopener noreferrer nofollow">cryptocurrency</a> has witnessed a significant surge, crossing the $50 threshold with a 13.13% increase in the past day. This milestone achievement was backed by a substantial rise in transaction volumes involving large trades, suggesting strong market activity around the digital asset.</p>
<h2 id="impact-of-high-value-transactions">Impact of High-Value Transactions</h2>
<p style="text-align: justify">Cryptocurrency analysts observed a record high in trading volumes for AVAX, hitting $329 million on March 11th, the largest since the previous December. This movement reflects increased interest and participation from substantial investors, which could potentially lead to a further doubling in AVAX’s price if current trends persist.</p>
<h2 id="technical-indicators-and-price-movement">Technical Indicators and Price Movement</h2>
<p style="text-align: justify">AVAX attempted to breach the $57 resistance on March 12th, according to a 4-hour technical chart, but the effort fell short. Bulls are currently pushing to surpass this resistance level, which could propel AVAX towards $59.92. Conversely, a rejection could see the price retract to the $47.53 support level. Notably, the relative strength index previously indicated an overbought condition, which correlated with a subsequent price dip.</p>
<p style="text-align: justify">The exponential moving averages provide a more optimistic outlook, with the 20 EMA overtaking the 50 EMA, hinting that the upward trend might continue. As long as AVAX maintains above $45.89, prospects for recovery look promising. Positive funding rates further suggest that the cryptocurrency might eventually stabilize above the resistance level. High-risk investments have been observed above the $57 mark, pointing to investor confidence in the asset’s growth potential.</p>
<p style="text-align: justify">However, the market also shows signs of possible reversal, with struggles to maintain an upward trajectory. A change in current conditions could lead to AVAX sliding below the $50 level. Despite a slight downward trend indicated by the cumulative liquidation levels delta, the potential for AVAX to hit triple-digit values in the future is not ruled out.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/avalanche-token-climbs-above-50-as-trading-volume-soars" rel="noopener noreferrer nofollow">Avalanche Token Climbs Above $50 as Trading Volume Soars</a></h5>

Avalanche Token Climbs Above $50 as Trading Volume Soars

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