Avalanche has been among the top gainers in the crypto charts. The AVAX coin has been enjoying growth following the major developments happening on the AVAX network. The altcoin is trading at all-time high levels following these gains that have mainly been attributed to buyer support.
Avalanche is trading at $78.20 at the time of writing after an 11% gain in the past 24 hours.
AVAX Price Analysis
AVAX has been among the best performing altcoins since the beginning of the month. On November 3, Avalanche reached an all-time high of around $80, following increased buyer demand.
Currently, AVAX has dropped from these records highs. However, it is still possible to go back to these prices if the buyer support continues to be strong. The next immediate resistance lies at $80, and if support is enough to let it breakthrough, the altcoin could proceed to the next levels of around $82 and $85.
On the other hand, we could also see Avalanche failing to reclaim its record highs if there is increased selling pressure in the market. In this case, there is also the possibility that Avalanche will shoot to the lows of $75 and $72.
In just a week, the coin has rallied by around 26%. It has climbed from the lows of $60 in a week to the current prices showing high chances of the coin going to higher grounds.
The AVAX network has been making major gains because of the growing adoption of the token by DeFi developers. In just one month, its total value locked has grown by over 2500% to the current $8.5 billion, making it among the top DeFi networks in the market.
Where to Buy AVAX
To buy AVAX during the current bulls, you can create an account of the following exchanges:
eToro is one of the leading cryptocurrency exchange platforms. It comes with user-friendly features such as low trading fees and a copy trading feature, making it ideal for traders who want to maximize their profits.
You can also buy AVAX from Crypto.com. This is also another popular exchange that supports a variety of cryptocurrencies and trading pairs. The exchange has a user-friendly interface that makes it easy to use.
Your capital is at risk.
Read more:
Credit: Source link
