Why you should consider Avalanche - $AVAX.

Although bitcoin is really pushing its all-time high without any barriers, it has been considered a great bullish trend since four years ago. Along with this, many coins have found their space in the bullish rally recently. Investors are really putting their eye on the market to get a coin that is worth investing in. 

Despite the bullish rally, some coins lately experienced a bearish swing, which got many investors FOMO out of the market, and AVAX is not the least of the bearish swings among the coins. Many investors who hold AVAX have found it unworthy of holding at the moment because of its diminishing moves lately.

Irrespective of that, AVAX has a future prospect as far as the ecosystem is concerned.

Why you should consider $AVAX.

AVAX is the future-proof blockchain that is most developer-friendly. In the crypto ecosystem, AVAX has been experiencing a great push from the $8.9 it was as of October 2023 to $42.2 before its recent bearish move. Before November 2023, bearish swing AVAX was moving on a sideways trend, which made it more difficult for investors to consider it for investment until it responded to the bullish push now.

all time chart of Avalanche - $AVAX

AVAX is bearish; what is the future prospect? The bullish swing AVAX experienced lately has created six supports that will create a lot of bounce for it at every mitigation of those supports. Right now, the AVAXis at $38.6 and is bearish toward the first support, which is at $35.6, before the next support, which is at $34.6, which indicates a sideways bounce for it. There is speculation that the coin still has the prospect of moving up after mitigating the last support at $29, unless other wishes happen.

Nevertheless, investors are advised to hold on to their AVAX investment because AVAX recently launched SteakHUT liquidity on its C-Chain for decentralized liquidity provision for management in the ecosystem, which is a boost for their project.

https://twitter.com/avax/status/1760017575935914387 

Also, an announcement was made on their handle concerning a submit that will be held by October, which gave room for investors and sponsorship.

https://twitter.com/avax/status/1754997731595047319 

which is always a great deal for them because it gives room for investment and tells the future of the project. Investors should look into the future prospects of Avalanche and not FOMO because of the bearish swing it is experiencing.

Furthermore, the RSI value of the coin is 52.16, which indicates neutrality, meaning the coin is neither on the overbought side nor on the overside side, this implies that there is a possibility of a bullish swing. Despite the neutral RSI value, the EMA indicates that some short-term holders have sold out of the market while the long-term holders are on the other side of the market. Therefore, if the long-term holders are still buying, it is an indication that the coin has the prospect of pumping over time. Investors are advised to consider Avax and place it on their watchlist.

Disclaimer.

This is never financial advice of any kind; investors are advised to do due diligence before investing in any coin. This is just to create awareness of the coin with prospect and fundamental analysis according to the knowledge of the investor.