Avalanche registered a strong increase in the last 24 hours, with Avax Price increased more than 11%. The rally was fed by the reports that Avalanche is trying to raise $ 1 billion to establish two investment vehicles focused on cryptocurrencies in the United States.
This effort aims to strengthen Avalanche’s position as a major digital book for capital markets.
Avalanche chooses more than just the interest of investors
The interest of investors shows signs of renewed strength. The Chaikin Money Flow (CMF) indicator has increased constantly, reaching its highest point in almost two months. This increase confirms that capital is flowing towards Avalanche as merchants anticipate continuous profits.
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The constant increase in CMF suggests that Avax is being seen as a strong candidate for short -term profits and long -term accumulation. With an impulse favoring buyers, the Token has gained an advantage, which allows the market to maintain ascending pressure despite the recent volatility in the broader cryptographic sector.
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Avalanche’s macro impulse is also positively aligned with broader trends. Altcoin’s correlation with Bitcoin is now at 0.80, a sign of strong alignment. This connection indicates that Avax will probably reflect Bitcoin’s trajectory if BTC maintains its current upward trend.
Given Bitcoin’s recent recovery, Avax investors are optimistic that the price will continue to increase. As BTC is firm above critical support levels, Avalanche is positioned to follow its example, providing additional validation for bullish merchants who bet on higher objectives.
Avax Price faces resistance
At the time of writing, Avax is quoted at $ 29.00 after the 11.3% increase in a single day. The increase led the Token to a maximum of 7 months, although it currently faces resistance at $ 30.00.
If investor enthusiasm is maintained, Avalanche could turn the resistance of $ 30.00 in support, allowing a movement towards $ 31.15 or more. The sustained entries and the strongest correlation with Bitcoin would reinforce this upward trajectory.
However, the risks remain. If investors begin to reserve profits at current levels, AVax could lose the impulse. A $ 27.00 or even more than $ 25.86 support drop would erase much of the recent rally and invalidate the short -term uprising thesis.
