BNB -0.25%
$606.67
BTC 0.07%
$66,315.40
DOGE -0.43%
$0.13
ETH 0.74%
$3,563.04
PEPE -0.55%
$0.000011
XRP 2.04%
$0.48
SHIB -0.35%
$0.000020
SOL 0.28%
$144.65
TG Casino
powered by $TGC

Avalanche Price Prediction – This is Why AVAX is Pumping 25% and There’s Much More to Come

John Isige
Last updated: | 5 min read
Avalanche price
 

Avalanche price breakout over the last 24 hours seems unstoppable, bolstered by a strategic partnership with Amazon Web Service (AWS). The bullish move in AVAX comes amid a market-wide uptick in crypto prices that started last week. Avalanche currently exchanges hands at $15.26, with its weekly cumulative gains increasing to 27.2%.

AWS Partnership Ignites Avalanche Price Rally

The world’s largest cloud computing service provider, AWS, is teaming up with Ava Labs to speed up the adoption of blockchain technology across various industries. Ava Labs believes this partnership will create a seamless environment for organizations and individuals to run nodes on Avalanche, a Layer-1 blockchain. Developers using the blockchain network will also benefit from improved strength and flexibility.

AWS intends to make available one-click node deployments to support Avalanche’s infrastructure and decentralized applications (DApps) ecosystem. Ava Labs will join the coveted AWS Activate Program, supporting startups and early-stage entrepreneurs eyeing the AWS platform.

“We have over 500 applications on the chain and we would love to give them a better experience and now we have a real partnership that we can direct to the Activate program,” John Wu, President of Ava Labs, reckoned in a statement.

The partnership is a win for the entire blockchain ecosystem as it marks the first foundational collaboration with the world’s largest cloud computing network provider. Ava Labs will be adding its Subnet deployment on the platform as a managed service, which will pave the way for individuals and ecosystems to operate their own custom Subnets.

Subnets are a foundational structure for the Avalanche Layer-1 blockchain. They allow the network to divert traffic from the main blockchain and support AVAX staking. With subnets, projects can fire up their own Layer-1 or Layer-2 blockchains.

Avalanche Price Depends on This Support Level to Keep Climbing

Avalanche price responded to an increase in investor optimism, rallying from support at $10.50 to slightly over a two-month high of $16.60. The move coincided with an expected breakout from a falling wedge pattern, likely to push AVAX to $28 over the coming weeks.

Avalanche price
AVAX/USD 12-hour chart

Despite a vivid bullish outlook in Avalanche, the price hit a snag and retraced to $15.59, possibly due to pressure caused by investors booking early profits. Avalanche price now needs to confirm support above the yellow band on the chart, which is in near confluence with the 200-day Exponential Moving Average (EMA) (in purple) at $14.55 to ensure the resumption of its uptrend.

The same bullish outlook reiterates with DrDovetail’s forecast on Avalanche price. The analysts outlined via Tradingview that AVAX could climb to $28 if support around $14.55 holds. “If price action can flip this green trendline to solid support the price could climb to the $28 target within the next month or 2,” he wrote.

Avalanche price
AVAX/USD price chart

A rebound from the upper falling trend line would be highly bullish for Avalanche price. Besides, the Moving Average Convergence Divergence (MACD) indicator still spots a buy signal on the same 12-hour chart, meaning the odds are stronger on the bulls’ side.

The IOMAP model by IntoTheBlock (ITB) hints at another bullish breakout, supported by solid support between $12.78 and $13.31. Approximately 131k addresses previously bought 7.58 million AVAX tokens in this range and will be willing to support a bullish outcome. On the other hand, Avalanche price faces weaker hurdles to the upside, and with a little push, it could explode above $20.00.

Avalanche price
AVAX IOMAP chart

Other Altcoins to Consider In 2023

Investors must deliberately choose the constituents of their crypto portfolios as early as the New Year starts and ensure they have the best risk management measures in place. One way to do that is to seek exposure to tokens in their presale stages. Apart from buying up-and-coming altcoins at a bargain, investors get a chance to be early adopters in projects that may shape the future of crypto.

Meta Masters Guild (MEMAG)

A strong play-to-earn platform is flaunting a simple approach to the gaming industry that could supercharge user interest, which has declined significantly over the last few months. The team at Meta Masters Guild says that it wants everyone to be able to play blockchain games for free and start earning rewards for the time spent on them.

Players on the world’s first mobile-focused web3 gaming guild will earn a currency referred to as Gems. These tokens are versatile as they allow the player to swap them with MEMAG, the platform’s native token, which can be staked for more rewards. Some users may buy in-game NFTs with Gems or cash out by exchanging with other cryptos like ETH.

The Meta Masters Guild’s ecosystem has been designed to reward players and anyone who contributes to its growth. Some high-value contributions that will be rewarded include game building, the supply of in-game assets to high-performing players, the development of esports teams, content creation and participation in community events and giveaways.

Investors can buy MEMAG in an ongoing presale that has already raised $46.3k, selling one token for 0.007 USDT.

Visit Meta Masters Guild Now.

FightOut (FGHT)

Move-to-Earn (M2E) coins are becoming more and more well-known in the cryptocurrency sector as they work to promote healthy living. The top projects in this asset class include STEPN, SweatCoin, and Step App.

However, they are yet to fully decentralize the fitness business, which will, in FightOut’s opinion, benefit everyone, including clients and stakeholders.

FigthOut understands that Web3 holds the key to the future of M2E, with solutions that can generate income for both users and stakeholders (gym owners). The gamification of M2E not only adds value and motivates people to form healthy routines.

With the new ecosystem, FightOut hopes it will remove barriers to entry that come in the form of Web3 knowledge and expensive starter NFTs associated with platforms like STEPN.

The money raised from the presale will enable FightOut to build an M2E fitness app and gym chain that gamifies the fitness lifestyle, where users will earn rewards for completing workouts and challenges.

Visit FightOut Now.

Dash 2 Trade (D2T)

Dash 2 Trade, a revolutionary cryptocurrency platform, is here to change how people view and manage their crypto trading. This new ecosystem provides users with incomparable access to world-class crypto analytics and social trading tools.

The platform is packed with features and services for traders to explore as they navigate the ever-evolving cryptocurrency market. From timely trading signals to social sentiment and on-chain analysis, Dash 2 Trade makes it easy to spot trending coins and stay ahead of the curve.

Dash 2 Trade presale closed on Wednesday with the first CEX listings on Gate.io and BitMart.

Visit Dash 2 Trade Now.

Related Articles: