Avalanche Slips 5% Despite $1B Investment — Could AVAX Rebound Toward $40 on Institutional Backing?
Avalanche's recent downturn by 5% occurred even after a substantial $1 billion investment. This raises questions about AVAX's potential to rebound and reach the $40 mark. Institutional support could play a vital role, hinting at a possible recovery. Readers can explore which coins are showing promise for growth in these volatile times.
Avalanche (AVAX) Shows Potential for Growth Amid Current Rally
Source: tradingview
Avalanche (AVAX) is on the rise, trading between $25.60 and $32.28. In the past month, it jumped nearly 20% and has surged 50% over six months. This bullish trend is underpinned by the relative strength index at a cautious 38.25, signaling more room to grow. If momentum continues, AVAX could challenge the next resistance at $35.10 and possibly reach $41.78. This could mean a potential increase of about 30% from its current level. While the MACD level is slightly negative, indicators suggest optimism. Keep an eye on the support level at $21.73, as it ensures a base for upward movement. Overall, AVAX is on an encouraging path.
Conclusion
Avalanche’s short-term dip hasn’t derailed its longer-term momentum. With a $1B institutional injection acting as a confidence boost, AVAX shows technical strength and clear upside potential toward the $40 zone. While resistance levels may test investor patience, steady support and growing market interest suggest that Avalanche remains a coin to watch closely as the next rally unfolds.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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