By Franklin Smith
Avalanche (AVAX) has registered new gains within the past 24 hours. The uptrend had the alt rising through the ranks, entering the top ten digital coins by market value. Meanwhile, the latest upswing comes after Avalanched revealed USD Coin addition on its platform. USDC introduced liquidity on the AVAX network.
While publishing this content, AVAX trades at $103.24, following a 14% increase on the daily chart. Meanwhile, the latest developments brought many benefits. For instance, stablecoin integration can translate to lower transaction charges. Avalanche will no longer rely on the ETH network to settle the transaction fees. As AVAX prints bullish moves, what do the upcoming sessions hold?
Avalanche 4Hr Chart
After the massive selloff recorded after the death cross, AVAX managed to invalidate its bearish outlook amid the latest developments. The closest resistance zone for the token stands at $109.84. If bulls persist, the alt might rise higher to explore price levels of $120. Meanwhile, the coin has its local support at $87.64. If AVAX plunges beneath this level, it will hit the solid floor at $74.17.
Technical indicators flashed bullishness. The RSI secured a multi-week peak and stayed beyond the half-line within the overbought area. Bulls managed to push Avalanche beyond the 20-Simple Moving Average. MACD also flashed positive price movements after a bullish cross.
WAVES/USD 4Hr Chart
WAVES has moved southward for the past one and a half months. Though the crypto coin saw a sporadic upside move on its price chart, it kept facing considerable selling momentum. However, WAVES appear to secure more gains today, climbing by 4.4% to trade at $16.91. if buying strength continues to surge, the alt might target value area near the price ceiling at $20.16. The alternative coin has its sturdy resistance zone at $23.9.
Indicators showed that bulls might control the price in the near term. Nevertheless, we cannot rule out opposite price directions, the Bollinger bands displayed possible volatility increase, confirming that WAVES may hover out of the prevailing price channel. The RSI floated within the bullish region, indicating price optimism in the incoming sessions. Finally, MACD saw a bullish cross, confirming a near-term bullishness.
by Ira Lichi – shutterstock.com