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Breaking News: Trump Prepares To Allow Crypto Investments In $9 Trillion Retirement Market

Avalanche Rumbles With 18% Gain – Will AVAX Hit $21 This Week?

Christian Encila
Christian Encila
2 years ago
3 mins read
Avalanche

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Avalanche (AVAX), the blockchain platform known for its high throughput and fast transactions, has seen some healthy movement with an 18.2% rally. 

The recent price analysis highlights the upward momentum of AVAX, the native token of the Avalanche network. With its innovative technology and growing community, Avalanche has been gaining attention from investors and crypto enthusiasts alike. 

Could this be the next big thing in the world of blockchain technology?

Avalanche (AVAX) Continues To Rumble

Coingecko’s latest market data indicates that AVAX is continuing its upward trajectory with an impressive 8.5% rally within the last 24 hours.

The current price of AVAX stands at $20.82, reflecting an 18.2% increase in value over the past seven days. This steady growth in AVAX’s value is a testament to the strong fundamentals of the Avalanche network.

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Market Sentiment For AVAX/USD: Bullish

The current market sentiment for AVAX/USD is bullish, indicating a positive outlook for the cryptocurrency. The recent crossing of the Moving Average curve signifies an upward trend in the asset’s price movement. This indicates that buyers are more dominant than sellers in the market. 

Investors who are bullish on AVAX/USD may consider investing in the cryptocurrency as the market appears to be moving in their favor. It is essential to note, however, that cryptocurrency markets are known for their volatility, and investors should exercise caution when investing in such assets. 

Nevertheless, with the current market sentiment favoring AVAX/USD, investors may want to consider adding the asset to their portfolio to take advantage of its growth potential.

AVAX Relative Strength Index

The Relative Strength Index (RSI) for AVAX/USD is currently at 63, indicating that the cryptocurrency is not yet overbought. RSI is a momentum indicator that measures the strength of an asset’s price movement. 

An RSI reading of 70 or higher is generally considered overbought, while an RSI reading of 30 or lower is considered oversold. Therefore, an RSI reading of 63 suggests there is still room for the cryptocurrency to grow further.

AVAX total market cap now at $6.7 billion on the daily chart at TradingView.com

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This RSI reading aligns with the recent crossing of the Moving Average curve, suggesting an upward trend for AVAX/USD.

Could AVAX muster enough strength and hit its $21 target this week?

Investors who are looking for an asset with favorable market sentiment and potential for growth may consider AVAX/USD.

However, as with any investment, it is crucial to conduct thorough research and analysis before making any decisions.

-Featured image from Journal Du Coin

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Christian Encila
Christian Encila

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Read more

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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