The price of Avalanche has risen by 33.52% in the past seven days. The price declined by 1.11% in the last 24 hours. In just the past hour, the price grew to $16.86. The day’s high reached $17.28, and the low dropped to $16.22
A tweet about Avax revealed that as long as hourly candles don’t close below $13.2, the price could rally up to $19 levels. This shows that the bullish momentum is still very high, and traders must set their stop loss at $13.2 to take advantage of it and protect their profits. Investors are advised to target $19 levels as long as BTC remains bullish.
Avalanche’s union with Amazon Web Services (AWS) has brought about this outcome. Both entities avowed that they initiated the partnership to promote wider institutional embracement of digital currency. AWS is set to provide its expansive customer base with the distributed computing service of Ethereum’s competition.
AWS users to ripe big
Taking full advantage of the features offered by the Avalanche network, users of AWS will benefit from its tremendous scalability, lightning-fast confirmation speed, and exiguous transaction costs. With these benefits, companies will be able to implement advanced financial solutions like stablecoins and blockchain-based payment systems.
It is worth noting that Avalanche’s native token, AVAX, has been outperforming its competitors with a nearly 20% gain in the last 24 hours. This could be attributed to the partnership with AWS, creating a chain reaction in the digital asset industry. The recent news has also sparked interest from new investors, and the demand for AVAX is increasing.
Investors are still expectant that the price of Avalanche will continue its bullish trend and reach new highs shortly. The strong fundamentals of the project and a growing interest from institutional investors are helping the price of cryptocurrency reach new highs.
It is also essential to keep an eye on the news and announcements from major exchanges, as they can influence the market. Additionally, it is advisable to look at the volume analysis of the coin as it can provide insight into potential price movements.
