Improvements to the Avalanche Foundation’s governance and options of communication have been substantial. The foundation’s goal in increasing the size of its Board of Directors is to strengthen its decision-making and strategic guidance by drawing on a wide range of industry experience.
In addition, the new twitter account is a major development in increasing openness and participation in the Avalanche community. In keeping with the foundation’s objective of encouraging innovation, cooperation, and long-term development across the Avalanche ecosystem, this new account will function as a central point for the dissemination of frequent updates, insights, and projects.
Impressive Double-digit Gains
The community witnessed fresh excitement and momentum as AVAX rebounds, breaking past the $54 barrier for the first time since May 2022. This unexpected upswing, after a period of muted trade, highlights the AVAX ecosystem’s innate resilience and promise.
Avalanche (AVAX) has surged to a new multi-year high, outpacing other altcoins with impressive double-digit gains. Clearing the December 2023 peak of $49, AVAX hit an intraday high of $57.30 today, marking a significant milestone in its steady recovery since late December, when it rebounded from the $27 range.
However, according to the daily price chart, a potential 10% climb for AVAX is on the horizon, targeting $60, the level last seen in May 2022. In a highly bullish scenario, the token could even surpass this resistance level and aim for the $70 milestone. On the downside, if AVAX fails to maintain above $52, the key support lies at $49.96, with a break below $41.17 signaling a reversal of the bullish trend.
At the time of writing, Avalanche has climbed over 35.75% in the last 7 days, trading at $53.91 as per data from CoinMarketCap. With a market cap now at $20.2 billion, AVAX’s bullish momentum has been fueled by a surge of 240% in a year. However, the relative strength index (RSI) indicates that the altcoin is currently in the overbought condition.
