A notable surge in the value of Avalanche (AVAX), a layer one blockchain, reflects a bullish trend in the sector, sparking optimism and anticipation of further growth as AVAX shows strong recovery momentum.
Similarly, the broader cryptocurrency landscape is witnessing a resurgence, with major digital currencies displaying positive momentum through green candlesticks. This uptrend signals renewed investor confidence in top-tier cryptocurrencies.
Despite a slight dip last week, AVAX has seen a 14% rise over the past month, indicating robust momentum and increased investor interest in leading digital currencies.
Trading around the $24 mark, AVAX has shown solid support levels with a 2.67% surge in the past 24 hours. The altcoin’s price movements between $23.18 and $24.46 signal a recovery amidst a general uptick in the crypto market.
The MACD indicator is bullish, with the MACD line crossing above the signal line, showing increasing buying momentum for AVAX.
A chart from Santiment tracks AVAX price alongside whale stablecoin holdings, revealing a potential correlation between whale activities and price changes in AVAX.
AVAX’s price faces a critical juncture at $25, with potential for further growth to $30 and even $50 by the end of the month if the bullish trend persists. Strong market support could propel its price to $60 in the upcoming rally.