Altcoin News
- AVAX price is consolidating at 100-day and 50-day Simple Moving Average (SMA).
- Traders suggest AVAX needs more buying power to make an exponential move.
- Avalanche price is $89.39, at the time of writing.
Avalanche (AVAX) is consolidating at a well-defined trading pattern in the market-wide bull position. The consolidation movement has influenced AVAX price swing momentum massively.
This seems to portray some flourishing growth and a distinctive market transformation for Avalanche. Report has it that AVAX is utilizing this moment to make a bullish u-turn as the crypto market is showing more greens. Speculators think that this time is a good moment for AVAX to drive more sensations in the market.
On top of this, Avalanche’s rose up to 43% before it decreased drastically to 9.08% based on CoinMarketCap.
In addition, the crypto’s price is at $89.39, up 27.85% from its 7-days threshold value at writing time. Its market capitalization value is almost $21 billion in the market. This on-chain analytics makes Avalanche rank as the 10th largest cryptocurrency in the world.
The crypto continues to make its way against the 50-day Simple Moving Average (SMA) and the 100-day SMA. Traders suggest that AVAX needs strong support and more buying power at this crucial moment to maintain its present price of $89.3 for the long term.
Meanwhile, AVAX faced a downwards trend with more market rallies a couple of days ago. Avalanche users are very excited to see how the crypto has geared up for more competitive price movements this time around.
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