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What is AVAX? The acronym “AVAX” stands for AVeoCoin. It was created by the team at Ava Labs, a company that focuses on creating next generation solutions in digital advertising and marketing technology. As one of the first companies to use blockchain in this industry, it doesn’t come as much surprise that they’re trying to be part of something new – cryptocurrency! They’ve recently released their ICO (Initial Coin Offering) which has received some good feedback from investors so far. With current market trends showing no signs of slowing down anytime soon, we may see an increase in value over time with AVAX acting as a safe haven when other coins are losing value.;
The “why is avax dropping” is a question that has been on the minds of many cryptocurrency enthusiasts. AVAX could reach the $100 soon.
Avalanche (AVAX) is the latest cryptocurrency to hit a new all-time high, and it might climb above $100 in the coming hours.
Over the last 24 hours, AVAX, the Avalanche blockchain’s native currency, has been one of the best-performing cryptocurrencies among the top 20 by market size. The currency is up over 12% and just hit a new all-time high of $95 only a few hours ago.
AVAX is now selling at $94 per coin, down less than 2% from its all-time high. The increase has been fueled by a slew of positive news for Avalanche during the last month. The Avalanche Foundation is the most recent organization to start an ecosystem expansion.
The Avalanche Foundation announced a $200 million fund over the weekend in order to encourage ecosystem development. The cash would be used to assist ecosystem integration, equity investments, company growth, technical support, and token purchases, among other things.
Levels to keep an eye on
Because of the cryptocurrency’s strong performance over the last three weeks, the AVAX/USD 4-hour chart is positive. The MACD line is firmly in the positive zone, while AVAX’s RSI of 79.60 indicates that it is now overbought. The technical indications suggest that the price might rise much more in the following hours and days.
AVAX is now trading around $74, up more than 20% from its 100-day simple moving average, suggesting that the cryptocurrency has a lot of support in that area.
What to Be Aware Of
If its bulls maintain their present pace, AVAX might achieve a triple-digit price for the first time in its existence. To hit the $100 threshold, the cryptocurrency would have to move by less than 10% in the following several hours.
AVAX might rise towards the $130 barrier over the next several hours if a bullish run continues. Avalanche, on the other hand, might reverse following a big price surge in the previous 30 days.
Over the following two hours, AVAX might retreat to the demand level between $81 and $72. It may, however, enable the bulls to restock and launch another rise.
The “avax coin price prediction 2022” is a cryptocurrency that could reach the $100 soon. The coin has been around for over a year and has seen some growth in the last few weeks.
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