Avalanche (AVAX) Gains 17%: Can It Reach $30 This Week?
The cryptocurrency market is showing signs of a recovery. Bitcoin (BTC) has reclaimed the $85,000 price point. The global crypto market cap has also risen to $2.78 trillion. Avalanche (AVAX) follows the current market uptrend. AVAX’s price has rallied 0.9% in the daily charts, 17.8% in the weekly charts, 6.3% in the 14-day charts, and 3.2% over the previous month. Despite the rally, the asset’s price is down 43.7% since mid-April 2024.
Also Read: Amazon (AMZN): How Prime Could Send Shares Soaring in 2025?
Cryptocurrencies Gain Amid Tarrif Pause
The cryptocurrency market resurgence came after President Trump announced a 90-day pause on tariffs, except for those on China. The move may have led to a boost in investor confidence. AVAX and other cryptocurrencies have seen substantial inflows after the rate pause announcement.
Also Read: Intel Stock (INTC) Climbs Following Altera Sale Deal
Avalanche’s (AVAX) latest rally also comes after the US Senate confirmed Paul Atkins as the next SEC chair. Outgoing head Gary Gensler was viewed as a villain of the cryptocurrency industry. Many are hopeful Atkins will take a more lenient approach.
Can Avalanche Hit $30 This Week?
According to CoinCodex, AVAX will face a correction over the coming days. The platform anticipates the asset to trade at $17.78 on Apr. 20. AVAX’s price will dip by 11.98% if its falls to $17.78. The platform further anticipates the asset to fall below $15 by May end.
Also Read: Nvidia (NVDA) Jumps On Tariff Pause, US Shift: Is Stock $200 Bound?
There is also a possibility that Avalanche (AVAX) will continue its upward momentum. If the global trade war is settled, it may lead to a rise in investor confidence. The crypto market may also enter a rally if the Federal Reserve announces an interest rate cut. A rate cut could lead to a boost in risky investments.
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Avalanche (AVAX) Gains 17%: Can It Reach $30 This Week?
The cryptocurrency market is showing signs of a recovery. Bitcoin (BTC) has reclaimed the $85,000 price point. The global crypto market cap has also risen to $2.78 trillion. Avalanche (AVAX) follows the current market uptrend. AVAX’s price has rallied 0.9% in the daily charts, 17.8% in the weekly charts, 6.3% in the 14-day charts, and 3.2% over the previous month. Despite the rally, the asset’s price is down 43.7% since mid-April 2024.
Also Read: Amazon (AMZN): How Prime Could Send Shares Soaring in 2025?
Cryptocurrencies Gain Amid Tarrif Pause
The cryptocurrency market resurgence came after President Trump announced a 90-day pause on tariffs, except for those on China. The move may have led to a boost in investor confidence. AVAX and other cryptocurrencies have seen substantial inflows after the rate pause announcement.
Also Read: Intel Stock (INTC) Climbs Following Altera Sale Deal
Avalanche’s (AVAX) latest rally also comes after the US Senate confirmed Paul Atkins as the next SEC chair. Outgoing head Gary Gensler was viewed as a villain of the cryptocurrency industry. Many are hopeful Atkins will take a more lenient approach.
Can Avalanche Hit $30 This Week?
According to CoinCodex, AVAX will face a correction over the coming days. The platform anticipates the asset to trade at $17.78 on Apr. 20. AVAX’s price will dip by 11.98% if its falls to $17.78. The platform further anticipates the asset to fall below $15 by May end.
Also Read: Nvidia (NVDA) Jumps On Tariff Pause, US Shift: Is Stock $200 Bound?
There is also a possibility that Avalanche (AVAX) will continue its upward momentum. If the global trade war is settled, it may lead to a rise in investor confidence. The crypto market may also enter a rally if the Federal Reserve announces an interest rate cut. A rate cut could lead to a boost in risky investments.
Read More