This week, AVAX has made major gains, and it is trading at all-time high levels. The coin has been breaking past record highs for the better part of this week, making it one of the top performers in the crypto charts.
AVAX is trading at $83.62 at the time of writing after an 11.9% gain in 24 hours.
AVAX Price Analysis
AVAX has been on a bullish rally for the better part of this week. Following overwhelming buyer support and increased activity on the Avalanche network, the coin has rallied by nearly 35% during the past week.
If AVAX can maintain the uptrend, the next resistance to be tested will be $85. This level has been tested in the past 24 hours, but the altcoin has failed to hold. Therefore, if buyers can come in and accumulate more holdings, this will be the next price that the price will break out of.
If AVAX manages to hold $85, the next resistance level of $90 could also be reached. Anything past $85 will set a new all-time high for the coin, and major gains could be experienced, especially if short term traders enter the market to leverage the price gains.
On the other hand, there is also a chance that the uptrend could reach exhaustion and traders that bought during the uptrend could start selling. In this case, AVAX will go towards $80 and below. Dipping to $75 could also happen if there is a recession across the broader market.
The gains made by AVAX have been attributed to the growth of the Avalanche network. The network is making major gains in total value locked (TVL). In addition, the newly launched fund on the network is creating investor excitement that the activity on the network will also grow again in the future.
Where to buy AVAX
To buy AVAX during the current gains, open an account on the following exchanges:
eToro is a reputable exchange platform that supports unique features such as copy trading and low trading fees. It also supports a wide range of cryptocurrencies and trading pairs, making it ideal for both new and expert traders.
You can buy AVAX tokens from Binance. As a leading exchange platform, Binance supports a broad range of cryptocurrencies and trading pairs. Binance also charges low trading fees and commissions.
Your capital is at risk.
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