Ethereum

Cryptocurrency

Bitcoin

Coin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/insights-on-the-rising-appetite-for-cryptocurrencies-and-avax-price-movements/" data-wpel-link="internal">Insights on the Rising Appetite for Cryptocurrencies and AVAX Price Movements</a> 
<a href="https://en.coin-turk.com/bitcoin-btc-current-status-what-do-the-latest-data-tell-us/" data-wpel-link="internal">Cryptocurrency</a> interest is growing as <a href="https://coin-turk.com/blackrock-onemli-esigi-asti-kripto-icin-neden-onemli" data-wpel-link="internal">BTC</a> prices frequently reach new highs, now above $72,000. After tough bear markets, trading volumes have also increased significantly from the $10 billion levels. We may now be entering a period of accelerated rallies for altcoins. 
<h2 style="text-align: justify" id="avax-coin-commentary">AVAX Coin Commentary</h2> 
At the time of writing, the <a href="https://en.coin-turk.com/sharp-increase-in-avalanche-avax-token-burn-rate-2/" data-wpel-link="internal">AVAX</a> price has increased by more than 10%, trading at $48.8. The price has broken through the $44 resistance in the last 24 hours, signaling that it’s its turn to rise. However, the crucial factor will be AVAX’s ability to close above the key $50 resistance level. 
More than 300,000 AVAX investors hold approximately 9.16 million AVAX worth over $436 million, with a cost basis between $50-53. This resistance is significant due to this and the short-term profit-taking seen around the critical area. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-326052 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/AVAX-Yatirimci-Maliyet.webp" alt="" width="1536" height="482"> 
However, if AVAX bulls can convincingly break through the $50-53 range, the bulls who believe in a major breakout may hold off on selling, allowing the uptrend to continue. We’ve seen this pattern recently in many cryptocurrencies, setting the stage for parabolic rallies. 
<h2 style="text-align: justify" id="avax-price-prediction">AVAX Price Prediction</h2> 
The popular <a href="https://coin-turk.com/analistten-ethereuma-eth-iddiali-hedef-duzeltme-tamamlandi" data-wpel-link="internal">Ethereum</a> competitor is near the $50 mark, with the RSI just below the overbought territory. Considering the double-digit price increase in the last 24 hours, there’s enough room for more short-term investors to join, fearing they might miss out. This could support a rally above $50. 
The MACD is indicating an uptrend for the first time in four months. If the $50-53 range is surpassed, we might see the price heading towards targets of $58.85 and $70. Beyond that, peaks of $81 and $98 could come into play. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-326053 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/AVAXUSDT_2024-03-12_02-59-16.png" alt="" width="1814" height="836"> 
However, if the resistance test fails, a pullback to $44 and $38 wouldn’t be surprising. The Asian markets will open soon, which could increase market volatility. <a href="https://coin-turk.com/tufe-oranlarinin-bitcoin-btc-uzerindeki-etkisi-yukselis-surecek-mi" data-wpel-link="internal">Bitcoin</a> is above $72,000 at the time of writing. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/insights-on-the-rising-appetite-for-cryptocurrencies-and-avax-price-movements/" data-wpel-link="internal">Insights on the Rising Appetite for Cryptocurrencies and AVAX Price Movements</a></h5>

Insights on the Rising Appetite for Cryptocurrencies and AVAX Price Movements

Table of Contents

COINTURK NEWS

Other articles published on Mar 12, 2024

Tether’s Global Expansion: USDT Set to Transform Transactions on Celo Blockchain

Aptos Token Release Sparks Market Watchfulness

Darkweb drugs site Incognito Market threatens to out users who paid in crypto

Is XRP Golden Cross Imminent?

Traders Fair Philippines 2024: The Ultimate Destination For Traders And Investor

Bitcoin To Hit $150K? Analysts Bank On Record Rally To Predict Target For 2025

Join our free newsletter for daily crypto updates!