There was an upward movement in Bitcoin with the pigeon statements from the United States Fed Chairman Jerome Powell yesterday evening. This movement showed itself very quickly in altcoins as well. Avalanche (AVAX), which started the day at $ 19.58 yesterday, closed the day at $ 20.83, with an increase of 6.38%. This closing was very important in terms of getting above the upward trend that it has been continuing for weeks. Starting the day with a light seller, Avax is trading at 20.53 levels with a loss of 1.60% as of this writing.
So what awaits us at Avalanche?
As can be seen from the chart above, Avax tends to continue its uptrend, which started at $12, and it is seen that it has made a very sharp upwards twice from the points where it approaches the support on this trend. Unless the trend support is broken, it is a very strong possibility that it will rise at the same time.
20% increase in Avax is possible?
Coming back to the chart above, Avax seems to have risen 23% once and 19% at once on-trend support, so it doesn’t seem impossible to have drastic rises while staying on the trend. When the past movements are examined, it will not be surprising that this increase is around 20%.
The articles written here are not within the scope of investment consultancy. They are only the interpretation of the graphics. You should not forget that the crypto market is very active and dangerous, and you can make big losses.
Please note that, it’s important to keep in mind that cryptocurrency prices are highly volatile and can fluctuate rapidly, so investing in them comes with significant risk. It’s always recommended to conduct thorough research and consult with a financial advisor before making any investment decisions.
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