Convergence

Bitcoin

Gains

Divergence

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/avax-price-surges-as-crypto-interest-soars">AVAX Price Surges as Crypto Interest Soars</a><br></p>
<p style="text-align: justify">The realm of cryptocurrencies is witnessing a vigorous surge in interest, as <a href="https://en.bitcoinhaber.net/bitcoin-surges-approaching-key-resistance-levels">Bitcoin</a>‘s price vaults past the $72,000 mark. Following challenging times in bear markets, trading volumes have soared from their previous $10 billion levels, suggesting the possibility of accelerated growth periods for various altcoins.</p> 
<h2 id="avax-breaks-resistance-eyes-further-gains">AVAX Breaks Resistance, Eyes Further Gains</h2> 
<p style="text-align: justify">The AVAX <a href="https://en.bitcoinhaber.net/historical-echoes-in-crypto-moustache-highlights-striking-similarities-between-bitcoins-current-and-2015-2016-behaviors">cryptocurrency</a> has seen a significant price leap of over 10%, currently trading at $48.8. This upsurge has led to a breakthrough past the $44 resistance level in the past day, hinting that a continued rise may be on the horizon. However, the pivotal challenge for AVAX lies in maintaining a position above the decisive $50 resistance mark.</p> 
<p style="text-align: justify">A noteworthy number of investors, exceeding 300,000, collectively hold around 9.16 million AVAX, valued at over $436 million. With their cost basis situated between $50-53, this price range emerges as a formidable resistance due to the concentration of investments and the tendency for short-term profit-taking near this zone.</p> 
<p style="text-align: justify">A convincing push beyond the $50-53 resistance range could deter AVAX investors, who anticipate a significant breakout, from selling their holdings prematurely, potentially sustaining the bullish momentum. Such patterns have been observed across multiple cryptocurrencies recently, paving the way for potential parabolic advances.</p> 
<h2 id="potential-trajectory-for-avax-s-value">Potential Trajectory for AVAX’s Value</h2> 
<p style="text-align: justify">AVAX, often seen as a contender to <a href="https://en.bitcoinhaber.net/strategic-whale-moves-in-the-crypto-sea-a-case-of-an-ethereum-investors-profitable-timing">Ethereum</a>, is flirting with the $50 threshold. The Relative Strength Index (RSI) hovers just below what is considered overbought territory, indicating that there may be scope for additional short-term investor interest. Such momentum could fuel an ascendance beyond the $50 price point.</p> 
<p style="text-align: justify">With the Moving Average Convergence Divergence (MACD) signaling an upward trend for the first instance in four months, surpassing the $50-53 bracket could steer the price towards $58.85 and $70 targets, with further peaks at $81 and $98 becoming feasible. Conversely, a failure to overcome resistance could result in a retraction to support levels at $44 and $38. As Asian markets prepare to open, increased volatility is expected, while Bitcoin continues to thrive at over $72,000.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/avax-price-surges-as-crypto-interest-soars">AVAX Price Surges as Crypto Interest Soars</a></h5>

AVAX Price Surges as Crypto Interest Soars

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