Price: $0.31599 -5.994%
Market Cap: 46.55B 1.4016%
Volume (24h): 5.46B 0%
Dominance: 1.4016%
Price: $0.31599 -5.994%
Market Cap: 46.55B 1.4016%
Volume (24h): 5.46B 0%
Dominance: 1.4016% 1.4016%
  • Price: $0.31599 -5.994%
  • Market Cap: 46.55B 1.4016%
  • Volume (24h): 5.46B 0%
  • Dominance: 1.4016% 1.4016%
  • Price: $0.31599 -5.994%
Home > Information news > Avalanche (AVAX) Breaks Above $40 as Bulls Continue Domination

Avalanche (AVAX) Breaks Above $40 as Bulls Continue Domination

Release: 2023/12/12 22:00 Reading: 935

Original author:TheNewsCrypto

Original source:https://coinmarketcap.com/community/articles/6578605395aedd654f3150ac

  • At the time of writing, AVAX is trading at $40.81, up 13.54% in the last 24 hours.
  • If the price goes below $38.5 level then it will likely test $34.4 support level.

Avalanche (AVAX) has surged by 13% in the last 24 hours to join the top 10 cryptocurrencies list by market value, defying the severe market reversal. The value of AVAX has doubled since the beginning of 2023, and it has gained 84.28% in the last week, as it regained the $40 level for the first time since May of last year.

In terms of market capitalization, Avalanche (AVAX) is now in the top ten, surpassing Dogecoin (DOGE). Moreover, Avalanche is now following a route that may replicate Solana’s recent meteoric rise.

According to the data supplied by DefiLlama, Avalanche has also seen substantial growth in the DeFi industry. It draws attention to important updates at Trader Joe, the top DEX based on the Avalanche network. The platform’s income reached a notable milestone of $145,000 on December 11th, and its fee revenues climbed to $1.23 million, achieving the second-highest level of the year.

Investors Optimistic

According to the statistics provided by the on-chain analytics platform IntoTheBlock, there has been a notable surge in the frequency of huge AVAX transactions. Last week, there were over 1000 transactions that were above $100,000, pointing towards increased optimism among large traders.

At the time of writing, AVAX is trading at $40.81, up 13.54% in the last 24 hours as per data from CoinMarketCap. Moreover, the trading volume is up 20.74%. The price recently broke above the key resistance level of $38.5.

If the bullish momentum continues and price manages to go above $55.8 then it will likely test $76.7 resistance level. Conversely, if the price goes below $38.5 level then it will likely test $34.4 support level.

Selected Topics

  • Dogecoin whale activity
    Dogecoin whale activity
    Get the latest insights into Dogecoin whale activities with our comprehensive analysis. Discover trends, patterns, and the impact of these whales on the Dogecoin market. Stay informed with our expert analysis and stay ahead in your cryptocurrency journey.
  • Dogecoin Mining
    Dogecoin Mining
    Dogecoin mining is the process of adding new blocks of transactions to the Dogecoin blockchain. Miners are rewarded with new Dogecoin for their work. This topic provides articles related to Dogecoin mining, including how to mine Dogecoin, the best mining hardware and software, and the profitability of Dogecoin mining.
  • Spacex Starship Launch
    Spacex Starship Launch
    This topic provides articles related to SpaceX Starship launches, including launch dates, mission details, and launch status. Stay up to date on the latest SpaceX Starship launches with this informative and comprehensive resource.
  • King of Memes: Dogecoin
    King of Memes: Dogecoin
    This topic provides articles related to the most popular memes, including "The King of Memes: Dogecoin." Memecoin has become a dominant player in the crypto space. These digital assets are popular for a variety of reasons. They drive the most innovative aspects of blockchain.