Despite the apparent reputation as being one of the fastest (if not the fastest) enterprise-ready DeFi blockchains, Avalanche seems to have taken its sweet time ranging and consolidating over the last couple months. Twice now, a breakout has seemed imminent, only to be dragged back down by one of the bigger BTC dips.
Well, by this point, to me, the chart looks like there's a snarling animal in there, gnashing its teeth, ready to tear through the triangle, and then channel, trendlines. This last dip has had almost zero effect on AVAX and I fully expect this one to follow Solana's lead and make a strong move upward in the next week or two
For reference: AVAX market cap is at just over $4.8 B currently, however this is with only around 50% of its tokens minted, and 18% of its eventual supply in circulation. So price upside is probably a little limited by these factors - but if it's got anywhere close to the utility that DOT currently has, then a 40% move is very much in play. At $37 right now, that means the reasonable potential to tap $52 in the near future.
Not financial advice, DYOR.
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Thanks for reading, and I'd be interested in any feedback anyone has, since I'm still pretty new to crypto and trading in general.
Well, by this point, to me, the chart looks like there's a snarling animal in there, gnashing its teeth, ready to tear through the triangle, and then channel, trendlines. This last dip has had almost zero effect on AVAX and I fully expect this one to follow Solana's lead and make a strong move upward in the next week or two
For reference: AVAX market cap is at just over $4.8 B currently, however this is with only around 50% of its tokens minted, and 18% of its eventual supply in circulation. So price upside is probably a little limited by these factors - but if it's got anywhere close to the utility that DOT currently has, then a 40% move is very much in play. At $37 right now, that means the reasonable potential to tap $52 in the near future.
Not financial advice, DYOR.
****************
Thanks for reading, and I'd be interested in any feedback anyone has, since I'm still pretty new to crypto and trading in general.