KEY POINTS
In the last 24 hours, Avalanche (AVAX) has seen its price soar by 10% to $27.96. This has been attributed to speculations surrounding a potential AVAX ETF.
The surge follows a recent decline caused by a hacking incident at the BtcTurk exchange. Investors are eyeing developments similar to VanEck’s Solana ETF application, which has spurred hopes for AVAX.
Analysts predict a 224.39% increase in AVAX’s price.
On the other hand, DTX’s presale performance is fueling market optimism and drawing investors in droves.
AVAX Technical Analysis
AVAX’s price action is forming a falling wedge pattern, typically interpreted as bullish and often leading to upward breakouts. Despite trading above its 50-day Simple Moving Average (SMA), AVAX remains below the 200-day SMA.
The 14-day Relative Strength Index (RSI) for AVAX has rebounded from oversold conditions to 43, approaching the midpoint and targeting resistance around 60. Looking ahead, if AVAX breaks above the falling wedge pattern, it could potentially surge by 76%, reaching $58.
On the flip side, support levels are projected at $23.51 and $19.54 if bearish momentum persists. Short-term projections suggest a possible 7% increase to approximately $30.07, driven by a recent breakout from an inverse head and shoulders pattern.
Investor sentiment is optimistic, with a 6.14% increase in 24-hour total open interest suggesting accumulation in anticipation of further price gains. The buzz surrounding AVAX as a potential ETF candidate, fueled by speculation and social media chatter, continues to bolster its market outlook.
DTX Presale Fuels Market Optimism
DTX Exchange (DTX) stands out among emerging altcoins poised for significant growth. The Exchange has garnered attention for its versatility and innovative hybrid trading model that combines the best of centralized and decentralized exchanges.
With over 120K tradable assets, DTX investors can access different markets, including stocks, commodities, and cryptocurrencies. Currently priced at $0.04 in Stage 2 of its presale, DTX offers a promising opportunity with a 100% return on investment for early backers.
The upcoming Stage 3 will see its price rise to $0.06, indicating escalating investor confidence. Meanwhile, analysts foresee a potential 50x surge post-listing on a Tier-1.
