Avalanche

AVAX price analysis for 31 March 2023, AVAX, the twentieth-largest cryptocurrency based on market cap, is in a downtrend since November 2021. You can read more about AVAX price from CoinCodex. On the fifth day of this week, it seems that pressure tries to balance between buyers and sellers based on the weekly Heikin Ashi Candlestick. […]
The post AVAX price analysis for 31 March 2023 appeared first on Latest News and Insights on Blockchain, Cryptocurrency, and Investing.

AVAX price analysis for 31 March 2023

The AVAX bullish sentiment has decreased after an impressive all-round performance in March. The Avalanche blockchain experienced a great deal of NFT volume and stablecoin supply. Having dominated other cryptocurrencies in the market, price, and social activity, Avalanche [AVAX] was one of the best performers in March. But this outmatch did not only begin in […]

Avalanche may have had a solid Q1, but what promise does April hold

AVAX price analysis for 28 March 2023, AVAX, the twentieth-largest cryptocurrency based on market cap, is in a downtrend since November 2021. You can read more about AVAX price from CoinCodex. On the second day of this week, it seems that pressure tries to balance between buyers and sellers based on the weekly Heikin Ashi Candlestick. […]
The post AVAX price analysis for 28 March 2023 appeared first on Latest News and Insights on Blockchain, Cryptocurrency, and Investing.

AVAX price analysis for 28 March 2023

The price of the AVAX crypto and an overview of the latest news involving it

Latest crypto news on the price of Avalanche (AVAX): rising bullish momentum

Avalanche resumed operations as usual despite pausing block production for the second time in a week. AVAX maintains its ranging performance as the market anticipates the next directional shift. The Avalanche blockchain might be the latest network to experience downtime. The network reportedly stopped producing blocks for almost an hour in the last 24 hours. […]

Avalanche’s C-chain halts block production for an hour: A bug or a feature?

AVAX price analysis for 27 March 2023, AVAX, the twentieth-largest cryptocurrency based on market cap, is in a downtrend since November 2021. You can read more about AVAX price from CoinCodex. On the first day of this week, it seems that pressure tries to balance between buyers and sellers based on the weekly Heikin Ashi Candlestick. […]
The post AVAX price analysis for 27 March 2023 appeared first on Latest News and Insights on Blockchain, Cryptocurrency, and Investing.

AVAX price analysis for 27 March 2023


                    
                    Bitcoin price is gearing up for a key monthly close that could see it dump its 2022 bear market for good.
                    Bitcoin (BTC) enters the last week of March in uncertain territory as a strong weekly close still keeps $30,000 out of reach.The largest cryptocurrency has sealed seven days of practically flat performance despite some volatility in between as the market seeks fresh direction. Where could it go next?In what was a week of more surprises from the macro economy, BTC/USD spent much time reacting to decisions from the United States Federal Reserve and associated commentary.Next up, however, is a period of relative calm, followed by a key monthly close, which analysis says could see the start of a new bullish trend.Bitcoin is currently up 20% for March so far, meaning that the coming days will decide the strength of the ongoing recovery from multi-year lows.Cointelegraph takes a look at five key topics to bear in mind during the final week of a what has been a volatile month.Countdown to Bitcoin price monthly closeBitcoin managed to close out the week with a modest flourish, returning to the $28,000 mark, data from Cointelegraph Markets Pro and TradingView shows.BTC/USD 1-week candle chart (Binance). Source: TradingViewThis meant that BTC/USD stayed practically unmoved versus the weekend prior, delivering some impressive stability despite the periods of volatility, which occurred in the intervening period.Nonetheless, concerns are brewing that the market may struggle to preserve current levels.In fresh analysis on March 27, popular Twitter account IncomeSharks flagged on-balance volume (OBV) as a telltale sign of decreasing momentum.“Just hard to ignore the weak OBV at resistance, price at resistance, and the lack of demand at these prices,” it commented alongside a chart. “If we drop we get a new wave of buying demand that should push us higher. Only way we go up from here is big news in the markets or another squeeze.”BTC/USD annotated chart. Source: IncomeSharks/ TwitterTrader and analyst Rekt Capital agreed that a retracement would be “healthy” for Bitcoin should it enter.“If BTC continues to struggle to break beyond $28,700 then a healthy dip may need to occur to gain fresh buyer interest at lower levels,” he tweeted on the day. “Technicals are showing some short-term weakness & it could be that a catalyst will soon appear to play that weakness out.”Over the weekend, Rekt Capital had flagged that price point as a key area to watch, while remaining upbeat about the longer-term trend.BTC/USD, he forecast, will “confirm” a breakout from its bear market at the end of March, provided the monthly close preserves the 200-week moving average (WMA) as support.The 200WMA currently stands at around $25,500, giving bulls room for a modest dip.#BTC has broken back above the 200-week MAHowever, it hasn't technically been reclaimed as supportIf $BTC were to soon dip, price could try to retest the 200-week MA as supportSuccessful retest there would fully confirm the breakout beyond the 200-week MA#Crypto #Bitcoin https://t.co/RqdxRuAkwd pic.twitter.com/zdYjOHxwCE— Rekt Capital (@rektcapital) March 26, 2023

Similarly level-headed, but on shorter timeframes, is trader Crypto Tony, who on the day eyed $27,700 and $26,600 to hold.“We have yet to lose the EQ at $27,700 on a 4 hour time frame, so the doomsday tweets can take a break,” he summarized, referring to the point in a range where buy and sell pressure is balanced. “The range low at $26,600 is what we need to lose to begin a short hedge position for myself.”BTC/USD annotated chart. Source: Crypto Tony/ TwitterPCE data in focus as SVB gets bought outUnlike last week, the final days of March are not slated to deliver surprises from the U.S. macroeconomic realm.That is not to say that a curveball will not appear, but in terms of macro data releases, the rest of the month is comparatively quiet.Key macro economic events for the week ahead:️ Thursday 30th (UTC)12:30  —  US Gross Domestic Product (GDP)12:30  —  US Unemployment Claims• GDP expected at the same 2.7%• Unemployment Claims expected at 196K from 191K️ Friday 31st (UTC)12:30 —  US PCE Core…— Lambda (@lambdamarkets1) March 26, 2023

The one key exception could be the March 31 release of the Personal Consumption Expenditures Index (PCE), which holds key insights into U.S. inflation trends.“US PCE inflation numbers are due this week - last month this data caused a volatile move lower in risk,” markets commentator Tedtalksmacro commented. “However, this month core PCE is expected to cool to +4.4% YoY down from +4.7% previous. That would be risk positive.”Should Bitcoin react to PCE data which comes in outside expectations, the results could make for a volatile weekend, coming just a day before the monthly close.Any new developments in the ongoing banking crisis would add uncertainty into the mix, and the risk is there — contagion remains in Europe, while the defunct Silicon Valley Bank (SVB) found a buyer overnight.JUST IN: First Citizens agrees to buy Silicon Valley Bank for $500 million.Just one year ago, SVB was worth nearly $40 billion and operated as the 14th biggest bank in the U.S.One month ago, First Citizens was half the size of SVB.It’s concerning how quickly SVB collapsed.— The Kobeissi Letter (@KobeissiLetter) March 27, 2023

Having hiked interest rates despite the crisis, however, the Fed is on a diverging path when it comes to interest rates — further hikes could come, it says, while markets hold the opposite opinion due to the stress already induced by prior rate increases.“Much tighter financial conditions and ongoing signs of bank stress are major reasons why the market thinks the Fed will be forced to abandon their plans,” analysis platform Mosaic Asset explained in the latest edition of its updates series, “The Market Mosaic,” on March 26.Related: Crypto winter can take a toll on hodlers’ mental healthMosaic further warned that historically, risk assets performed worse immediately following news of a rate hike policy pivot.“If the Fed does pause the rate hiking campaign, it will signal growing concerns that the central bank is breaking something in the capital markets. But also consider that the Fed has a track record of adjusting policy only when it’s too late,” it continued.It added that “as a result, in past bear markets the steepest stock market declines happened after the Fed pivots to a pause or outright rate cuts.”BTC hodlers setting up supply shockBitcoin hodlers are setting new records under current conditions — and laying the foundations for a supply shock in the process.The latest data from on-chain analytics firm Glassnode shows that the amount of the available BTC supply, which has not left its wallet in two years or longer, is now at all-time highs.As of March 27, more 52.5% of all mined BTC has stayed dormant since at least March 2021, with owners not selling or transferring during the ensuing bear market.Bitcoin dormant 2+ years chart. Source: Glassnode/ TwitterAddress numbers are also in “up only mode,” with the number of wallets holding 0.1 BTC or more setting new records on the day.Wallets with a non-zero balance likewise are more plentiful than ever before, with 45,388,865 in existence as of March 27.Bitcoin non-zero balance wallet chart. Source: Glassnode/ TwitterThe numbers feed into an existing narrative over what will happen to BTC price action during the next wave of mainstream consumer interest.With so much of the supply now ferreted away into cold storage, any rush for BTC could spark the realization that one of the world’s hardest assets is already too scarce.According to Glassnode, the overall BTC balance held by major exchanges remains near its lowest in five years.Exchange BTC balance chart. Source: GlassnodeBitcoin delivers perfect timingFor some, BTC price action is right on track for repeating past cycles — and setting a new all-time high in the process.Among them is Tedtalksmacro, who notes that the timing of the November multi-year lows on BTC/USD was more or less perfect.Since then, a rally which began in January has stuck, and there have been no signs as yet that fresh macro lows will appear to take out the $15,600 floor from November 2022.“~390 days until the next BTC halving,” Tedtalksmacro wrote on March 27, referencing a dedicated thread about Bitcoin’s performance from the end of January.~390 days until the next #BTC halving. https://t.co/cR4ILrC7A2— tedtalksmacro (@tedtalksmacro) March 27, 2023

BTC price is thus sticking to historical precedent by bottoming more than 400 days before its next block subsidy halving.Tedtalksmacro is meanwhile not the only popular commentator taking halving cycle timing into account when it comes to price.Earlier this month, Rekt Capital estimated that the next all-time high should be in around 18 months’ time.“It takes BTC around 900 days to rally from Downtrend breakout to Bull Market top,” he explained. “If history repeats, $BTC will perform a Bull Market top in the Summer of 2025.”BTC/USD annotated chart. Source: Rekt Capital/ TwitterCrypto market sentiment stays greedyAs with last week, there remains a potential thorn in the side of Bitcoin’s bull run — and it comes from investors themselves.Related: XRP, LTC, XMR and AVAX show bullish signs as Bitcoin battles to hold $28KDespite the volatility over the Fed rate hike and inability to push closer to $30,000, Bitcoin is seeing the kind of sentiment absent since its late 2021 all-time highs.According to the Crypto Fear & Greed Index, “greed” is what characterizes market sentiment in crypto more broadly at present.On March 21, the Index’s score hit 68/100, the most since November 2021, and has continued to circle the mid-60s since.While not near “extreme” levels, the higher the Index rises into greed, the more likely a market correction is to take place.Crypto Fear & Greed Index (screenshot). Source: Alternative.meThe views, thoughts and opinions expressed here are the authors’ alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.


Will BTC ditch the bear market? 5 things to know in Bitcoin this week


                    
                    Bitcoin price is making another run at $28,000 and this is luring altcoin traders into XRP, LTC, XMR and AVAX positions.
                    The recent banking crisis in the United States seems to have shaken the belief of some customers in the legacy banking system. According to Federal Reserve data, customers pulled nearly $100 billion in deposits in the week ending March 15.American venture capital investor and entrepreneur Tim Draper said in a March 25 report that “founders need to consider a more diversified cash management approach” due to the over-regulation of banks and micromanagement by the government. As part of a contingency plan, Draper suggested businesses keep “ at least 6 months of short-term cash in each of two banks, one local bank and one global bank, and at least two payrolls worth of cash in Bitcoin (BTC) or other cryptocurrencies.”Crypto market data daily view. Source: Coin360The move from the traditional banking system to cryptocurrencies may have already started as seen from the strong showing of Bitcoin in the past few days. Even after the recent up-move, investors do not seem to be hurrying to book profits in Bitcoin. However, the same cannot be said about most altcoins as they have witnessed a minor pullback. In the short term, traders need to be selective of the cryptocurrencies to trade. Let’s study the charts of Bitcoin and select altcoins which may start the next leg of the up-move.Bitcoin price analysisBitcoin has been hovering around the $28,000 level for the past few days. A consolidation after a strong rally is a positive sign as it shows that traders are holding on to their position, expecting a further up-move.BTC/USDT daily chart. Source: TradingViewThe upsloping 20-day exponential moving average ($25,936) and the relative strength index (RSI) in the positive area suggest the bulls remain in control. That enhances the prospects of a break above $28,900. If that happens, the BTC/USDT pair could rally to the $30,000 to $32,000 resistance zone. The bears will try to defend this zone with all their might because if they fail in their endeavor, the pair may skyrocket to $40,000.The vital support on the downside is $25,250. If this level fails to hold up, the pair may tumble to the 200-day simple moving average ($20,179).BTC/USDT 4-hour chart. Source: TradingViewThe 4-hour chart shows that the pair has been trading in a range between $26,500 and $28,900 for some time. The 20-EMA is flat and the RSI is just above the midpoint, indicating a balance between supply and demand. A break above $28,900 will signal that bulls have overpowered the bears. That will indicate the resumption of the up-move. On the contrary, if the price breaks below $26,500, the pair may tumble to $25,250 and then to $24,000.XRP price analysisXRP (XRP) soared above the overhead resistance of $0.43 on March 21. The bears tried to trap the aggressive bulls by pulling the price below the moving averages but the bulls held their ground. XRP/USDT daily chart. Source: TradingViewBuyers are trying to push the price toward the overhead resistance at $0.51. If bulls clear this obstacle, the ETH/USDT pair could attempt a rally to $0.56. This level is likely to witness aggressive selling by the bears but if buyers bulldoze their way through, the next stop may be $0.80.Another possibility is that the price turns down from $0.51. During the pullback, if bulls flip the $0.43 level into support, it will suggest that the sentiment has turned positive. That will increase the likelihood of a break above $0.51. The crucial support to watch on the downside is $0.40. If this level gives way, the next support is $0.36.XRP/USDT 4-hour chart. Source: TradingViewThe 4-hour chart shows that the bears are trying to defend the 61.8% Fibonacci retracement level at $0.46 and the bulls are buying the dips to the 20-EMA. This shows a state of equilibrium between the bulls and the bears.If the price sustains above $0.46, it will suggest that bulls have seized control. The pair could then attempt a rally to $0.49 where the bears may again mount a strong defense. On the other hand, if the price slips below the 20-EMA, the pair may fall to $0.43 and then to $0.40.Litecoin price analysisWhile most major altcoins are struggling to start a recovery, Litecoin (LTC) is showing signs of strength. The 20-day EMA ($86) has started to turn up and the RSI is in the positive zone, indicating advantage to buyers.LTC/USDT daily chart. Source: TradingViewThe LTC/USDT pair could first rise to $98 and then retest the strong overhead resistance at $106. This is an important level to keep an eye on because if it crumbles, the pair may accelerate to $115 and then to $130.Alternatively, if the price turns down sharply from $106, it will suggest that bears are active at higher levels. The pair could then drop to the 20-day EMA. If the price rebounds off this level, it will suggest that the sentiment remains positive. The bulls will then make another attempt to resume the up-move.The first sign of weakness will be a break and close below the 20-day EMA. That could open the doors for a drop to $75.LTC/USDT 4-hour chart. Source: TradingViewThe rebound off the 20-EMA on the 4-hour chart shows that the bulls are viewing the dips as a buying opportunity. The bulls will try to kick the price above $96 and extend the up-move to the overhead resistance at $106.Contrarily, if the price breaks below the 20-EMA, it will suggest that the bullish momentum is weakening. The pair could then descend to the uptrend line. This is an important level for the bulls to defend because if it cracks, the pair may tumble to $75.Related: Bitcoin is 1 week away from 'confirming' new bull market — analystMonero price analysisAfter trading near the moving averages for a few days, Monero (XMR) has broken free and is trying to climb higher.XMR/USDT daily chart. Source: TradingViewThe 20-day EMA ($153) has started to turn up and the RSI is in the positive territory, indicating that buyers have the edge. There is a minor resistance at $170 but if bulls overcome this barrier, the XMR/USDT pair could pick up momentum and soar to $187 and subsequently to $210.The moving averages are expected to provide support during pullbacks. A break and close below the 200-day SMA ($150) could turn the tide in favor of the bears. The pair may then slump to $132.XMR/USDT 4-hour chart. Source: TradingViewThe 20-EMA on the 4-hour chart is sloping up and the RSI is in the positive zone, indicating that bulls have the upper hand. The pair could reach $169 where the bulls may again face stiff resistance from the bears. However, on the way down, if bulls do not allow the price to break below the 20-EMA, it will increase the likelihood of a rally above $169. If that happens, the pair may climb to $180 and later to $188.The first sign of weakness will be a break and close below the 20-EMA. That could open the doors for a possible drop to the 200-SMA.Avalanche price analysisThe bulls have successfully held Avalanche (AVAX) above the moving averages, indicating that lower levels are attracting buyers. AVAX/USDT daily chart. Source: TradingViewThe price has been consolidating between $18.25 and the 200-day SMA ($16.05) for the past few days but this range-bound action is unlikely to continue for long. If buyers thrust the price above $18.25, the AVAX/USDT pair will attempt a rally to $22 where they may face strong selling by the bears.This positive view will invalidate in the near term if the price plummets and sustains below the 200-day SMA. The pair could then slide to $15.24 and thereafter to $14.AVAX/USDT 4-hour chart. Source: TradingViewThe bulls have successfully guarded the $16.25 level on the downside but they have failed to propel the pair above the resistance line. This indicates that the bears have not given up and they continue to sell on rallies. The flattish 20-EMA and the RSI near the midpoint do not give a clear advantage either to buyers or sellers.This uncertainty could tilt in favor of the bulls if they take out the resistance line. The pair may then start the next leg of the recovery to $20 and later to $22. A break and close below $16.25 will tilt the advantage in favor of the bears.The views, thoughts and opinions expressed here are the authors’ alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.


XRP, LTC, XMR and AVAX show bullish signs as Bitcoin battles to hold $28K

Trader Joe, a DEX on the Avalanche network witnessed a surge in volume. The number of active users on the Avalanche network continued to decline. Avalanche[AVAX] has been struggling to gain users on its protocol over the last few months. However, the dApps on the Avalanche network might be able to help the protocol improve its current […]

Avalanche: Can Trader Joe DEX turn things around for AVAX in near-term

AVAX price analysis for 24 March 2023, AVAX, the twentieth-largest cryptocurrency based on market cap, is in a downtrend since November 2021. You can read more about AVAX price from CoinCodex. On the fifth day of this week, it seems that pressure tries to balance between buyers and sellers based on the weekly Heikin Ashi Candlestick. […]
The post AVAX price analysis for 24 March 2023 appeared first on Latest News and Insights on Blockchain, Cryptocurrency, and Investing.

AVAX price analysis for 24 March 2023

The post Crypto Predictions for the Next 24 Hours: BTC, ETH, LTC, DOT, LINK, AVAX appeared first on Coinpedia Fintech News
The crypto markets have once again turned green today, with many coins reclaiming levels close to their yearly highs. Bitcoin’s price is currently hovering above $28,000, displaying the accumulated strength within the crypto space that may soon lift the entire market even higher. However, the approaching quarterly close could indicate massive market volatility, so the …

Crypto Predictions for the Next 24 Hours: BTC, ETH, LTC, DOT, LINK, AVAX

Avalanche’s explorer showed that block production was halted for over two hours on 23 March. Despite the halt, the transactions metric looked normal, and AVAX was not impacted. There were indications of a shutdown in the Avalanche [AVAX] blockchain on 23 March, raising concerns about the feasibility of the network’s transactions and the value of […]

Avalanche C-Chain halts block production, here’s what concerns investors

Cardano price has been gaining over the past couple of days. Over the last 24 hours, ADA rose about 0.3%. The coin has traded laterally in the past few sessions but maintained its bullish streak. In the last week, Cardano appreciated by close to 15%. The technical outlook of the ADA depicts that the bulls have been prevailing over the market. Buying pressure has also noted a considerable rise on the chart. Demand and accumulation have spiked as ADA broke past its stiff resistance mark. Related Reading: AVAX Price Prediction: Avalanche Bulls Aim $20 or Higher The price of the altcoin stands at a crucial mark because a fall from the present price level will cause the bulls to lose strength again, and ADA has to trade above its immediate line of support for it to target the next resistance level. This recovery cycle will only continue if ADA manages to keep trading between $0.34 and $0.38, respectively. Demand for the altcoin has to continue appreciating, if not, ADA might witness another pullback in the immediate trading sessions. The market capitalization of ADA has recovered, indicating an increase in buying strength. Cardano Price Analysis: One-Day Chart ADA was trading at $0.37 at the time of writing. Bulls have been active ever since ADA crossed above the $0.35 mark, which acted as a rigid resistance mark in the past couple of weeks. The $0.35 support level has acted as a propelling point for the ADA price. For the altcoin to move above the immediate resistance mark, demand for the altcoin has to rise consistently. Overhead resistance stood at $0.38. Breaching $0.38 will push ADA to trade close to $0.40. For Cardano to maintain its bullish momentum, the price has to move between the range of $0.34 and $0.38, respectively. The amount of Cardano traded in the last session was green, indicating positive buying pressure. Technical Analysis ADA demand has registered recovery over the past few weeks. After touching the oversold zone in March, the altcoin had been moving up in regard to demand too. The Relative Strength Index noted an uptick and touched the 60-mark. This indicated that buyers had taken control of the price. In consonance, the price moved above the 20-Simple Moving Average (SMA) line. This meant that buyers were driving the price momentum in the market. With some push from the buyers, ADA will move above the 50-SMA line, which is a sign of increased bullishness. Other technical indicators have sided with the bulls. The Moving Average Convergence Divergence suggests price momentum and trend reversal on the chart. The indicator formed green histograms tied to buy signals on the chart. Related Reading: Ethereum Price Just Saw Key Technical Correction But Key Support Intact The Directional Movement Index represents the price direction of the altcoin. DMI was positive as the +DI line (blue) was above the -DI line (orange). The Average Directional Index noted an uptick as it crossed the 20-mark, depicting strength in the price trend. Featured Image From UnSplash, Charts From TradingView.com

Cardano Has To Trade Above This Level To Breach The $0.40 Mark

AVAX price analysis for 23 March 2023, AVAX, the twentieth-largest cryptocurrency based on market cap, is in a downtrend since November 2021. You can read more about AVAX price from CoinCodex. On the fourth day of this week, it seems that pressure tries to balance between buyers and sellers based on the weekly Heikin Ashi Candlestick. […]
The post AVAX price analysis for 23 March 2023 appeared first on Latest News and Insights on Blockchain, Cryptocurrency, and Investing.

AVAX price analysis for 23 March 2023

AVAX price is holding the key $16.00 support zone. The price might start a major increase if there is a clear move above the $17.80 resistance zone. AVAX price is showing a few positive signs above the $16 level against the US dollar. The price is trading above $16.20 and the 100 simple moving average (4-hours). There is a key contracting triangle forming with resistance at $17.75 on the 4-hours chart of the AVAX/USD pair (data source from Kraken). The pair could continue to rise if there is a clear move above the $17.50 and $17.75 resistance levels. AVAX Price Could Rally After forming a base above the $15.00 level, Avalanche’s AVAX started a decent increase, similar to bitcoin and ethereum. There was a clear move above the $16 and $16.50 resistance levels. However, the bears were active near the $17.75 and $18.00 levels. The last swing high was formed near $17.94 before the price trimmed gains. It retested the $16.40 zone. A low is formed near $16.35 and the price is now rising. It broke the 23.6% Fib retracement level of the downward move from the $17.94 swing high to $16.35 low. AVAX price is now trading above $16.20 and the 100 simple moving average (4-hours). There is also a key contracting triangle forming with resistance at $17.75 on the 4-hours chart of the AAVE/USD pair. On the upside, an immediate resistance is near the $17.15 zone. The next major resistance is forming near the $17.35 zone. It is close to the 61.8% Fib retracement level of the downward move from the $17.94 swing high to $16.35 low. Source: AVAXUSD on TradingView.com The main resistance is still near the $17.75 and $18.00 levels. If there is an upside break above the $17.75 and $18.00 levels, the price could surge over 10%. In the stated case, the price could rise steadily towards the $20 level. Dips Limited in Avalanche? If AVAX price fails to continue higher above the $17.75 or $18.00 levels, it could start a downside correction. An immediate support on the downside is near the $16.50 level. The main support is near the $16 zone. A downside break below the $16 level could open the doors for a fresh decline towards $15. The next major support is near the $14 level. Technical Indicators 4-hours MACD – The MACD for AVAX/USD is slowly gaining momentum in the bullish zone. 4-hours RSI (Relative Strength Index) – The RSI for AVAX/USD is now near the 50 level. Major Support Levels – $16 and $15. Major Resistance Levels – $17.35, $17.75 and $18.

AVAX Price Prediction: Avalanche Bulls Aim $20 or Higher

AVAX Price Prediction: The ongoing recovery rally in the AVAX coin price took a major halt at the $18 resistance zone. Within a fortnight, the coin rechallenged the aforementioned resistances several times, but the result ended with a high price rejection attached to the daily candles. These rejection candles indicate the traders are aggressively selling 
The post AVAX Price Prediction: Increasing Supply At Key Resistance Puts Avalanche Coin On 15% Downside Risk appeared first on CoinGape.

AVAX Price Prediction: Increasing Supply At Key Resistance Puts Avalanche Coin On 15% Downside Risk

AVAX price analysis for 22 March 2023, AVAX, the twentieth-largest cryptocurrency based on market cap, is in a downtrend since November 2021. You can read more about AVAX price from CoinCodex. On the third day of this week, it seems that pressure tries to balance between buyers and sellers based on the weekly Heikin Ashi Candlestick. […]
The post AVAX price analysis for 22 March 2023 appeared first on Latest News and Insights on Blockchain, Cryptocurrency, and Investing.

AVAX price analysis for 22 March 2023

The latest Avalanche price analysis reveals that the AVAX price is facing a significant amount of bearish pressure in today’s market.  The bearish pressure is pushing Avax’s price below the $17.00 level after strong selling pressure from the market. The AVAX/USD pair is currently hovering around the $16.98 level, which is a drop of 3.47% […]
The post AVAX Price Level Shows a Bearish Momentum After the Market Crash appeared first on Coin Edition.

AVAX Price Level Shows a Bearish Momentum After the Market Crash

The latest news and analysis of the performance of MIOTA, AVAX and XLM

The latest crypto news for IOTA (MIOTA), Avalanche (AVAX) and Stellar (XLM)

AVAX price analysis for 20 March 2023, AVAX, the twentieth-largest cryptocurrency based on market cap, is in a downtrend since November 2021. You can read more about AVAX price from CoinCodex. On the first day of this week, it seems that buyers try to dominate the price based on the weekly Heikin Ashi Candlestick. The weekly […]
The post AVAX price analysis for 20 March 2023 appeared first on Latest News and Insights on Blockchain, Cryptocurrency, and Investing.

AVAX price analysis for 20 March 2023


                    
                    Both Polygon supernets and Avalanche subnets are scalability solutions that help developers deploy app chains.
                    What is the difference between Polygon supernets and Avalanche subnets?Both subnets and supernets are scalability solutions that allow developers to deploy or develop app chains rapidly. However, they differ in several ways, such as consensus mechanisms, transactions per second, validator numbers and staking requirements.Avalanche uses the Snowman proof-of-stake consensus protocol, which provides probabilistic consensus to enable scalability and infinite decentralization. Polygon, on the other hand, uses an Istanbul Byzantine fault tolerance (IBFT) consensus protocol to achieve guaranteed consensus, ultimately disfavoring decentralization and sacrificing permissionless participation.As the adoption of blockchain technology continues to grow, these technologies are likely to become more widespread and essential for building DApps.What are the key features of Avalanche subnets?Subnets offer many useful features, such as the ability to create private blockchains, separation of concerns and the requirement of validators to stake AVAX tokens before validating built-in chains.Subnets support private blockchain creation, allowing developers to create subnets wherein only predefined validators can join. In such a scenario, these validators would be able to create a private subnet and view the contents of the blockchains they have access to. This is an ideal framework for organizations that need to keep their data private.Subnets also support a separation of concerns, which, in the context of blockchain technology, refers to the ability of validators to only concern themselves with blockchains that they are interested in. This reduces the burden on validators, unlike models followed by heterogenous networks that require validators to validate even the blockchains they are not interested in.Subnets also allow for application-specific requirements, letting developers define validator requirements, such as higher amounts of CPU power or RAM and other hardware requirements. This will ensure that the application works at peak efficiency and does not suffer from low performance caused by slow validators.How do Avalanche subnets work?Avalanche subnets act in unison to keep the state of blockchains up-to-date. Essentially, these subnets provide the foundation for app-chain networks by providing decentralized validator services across different chains.A chain can be validated by only one specific subnet, but one subnet can validate multiple chains. Every subnet has its governance and requirements, such as licenses, country location, and Know Your Customer and Anti-Money Laundering checks. To join the primary network, validators must stake 2,000 Avalanche (AVAX) tokens before validating built-in chains on the network.Related: What is KYC, and why do crypto exchanges require it?Subnets are highly configurable but do not require complex design choices, allowing developers to create private blockchains that are reliable and scalable. Avalanche’s subnet system thus helps developers build decentralized apps (DApps) quickly while maintaining the highest security standards.What is Avalanche’s subnet?Avalanche defines subnets as validators functioning together to reach a consensus on the state of blockchains. Subnets facilitate app chains by supplying validators that various blockchains can share. Subnets within the Avalanche network facilitate the creation of customized blockchains, allowing developers and tech-minded businesses to build their own blockchains without needing a token.The network’s mainnet comprises three chains:X-Chain: A payment chain for minting nonfungible tokens (NFTs). C-Chain: An Ethereum Virtual Machine smart contract platform for creating decentralized applications.P-Chain: Responsible for coordinating validators on Avalanche as well as creating and managing subnets.The Avalanche network is sustained by the primary subnet, which contains all its validators. It’s their duty to validate the primary network and X, P and C chains, facilitating the connectivity between subnets and allowing validators to validate additional blockchains built on the network.What are the key features of Polygon supernets?Supernets have an advanced technical architecture powered by Polygon Edge, trustless operation via Merkle trees, Ethereum Virtual Machine (EVM) compatibility and custom token support.Supernet architecture is closely tied to that of Polygon Edge. The six modules in Polygon Edge’s architecture that are relevant to supernets include the following:TX Pool: Acting as a repository for pending transactions, this module is the key to Polygon Edge’s event-driven architecture. Transactions can be added easily from multiple sources, and it seamlessly links up with other modules of the platform.Blockchain: This refers to the state database, and it holds information on accounts, smart contract code, world state and more.JSON-RPC: The supernet’s API layer complies with Ethereum client standards, enabling tools such as MetaMask, Web3.js, Ethers.js, Remix and Hardhat to run seamlessly on its network.Consensus: Supernet uses proof-of-authority and proof-of-stake consensus algorithms.Libp2p: This is supernet’s updated peer-to-peer networking stack that facilitates block syncing, consensus messages, transaction pool gossiping and SAM pool gossiping.gRPC: With its powerful communication protocol, privileged operator commands on a supernet can only be locally executed on validator nodes. Validated operators can perform online backups, obtain information from validator systems, and query and clear data stored in the transaction pool.Supernets also operate trustlessly, meaning that each node validates every transaction independently by executing the smart contract. For the blockchain ledger to function properly, all nodes must hold an identical copy of it, consisting of a Merkle tree of blocks and extensive lists of transactions. An effort by malicious actors attempting to alter the ledger will be swiftly identified due to discrepancies in hash values from the different states incompatible with those within the Merkle tree.Supernets also have built-in EVM support, meaning that developers can write and deploy smart contracts using EVM bytecode, which is compiled from high-level languages, such as Solidity.Developers with Ethereum building experience can easily transfer their Solidity contracts to supernets without any modifications thanks to the suite of tools available, including Truffle, MetaMask, Remix and block explorers. This allows for a seamless transition from one platform to another.Lastly, supernets allow developers to create custom tokens consistent with universally recognized token interfaces, such as ERC-20. This is in line with Polygon’s goal of promoting interoperability via supernets.How do Polygon’s supernets work?Supernets are essentially a tool that helps developers understand complex data structures with relationships that would otherwise be difficult to pinpoint.By leveraging their own blockchain network and a global pool of validators, Polygon’s supernet makes it possible for developers to create their own blockchain networks within the same framework as Ethereum but with a much lower development cost.Supernet allows developers to bring their projects online with three speedy deployment modes.Supernet sovereign chain: This chain is managed by a single validator, enabling significant savings on maintenance costs.Supernet shared security chain: This chain is validated by expert validators with stakes of 20,000 Polygon (MATIC) tokens or more.Layer-2 chain: This chain uses zero-knowledge rollups to scale supernets and is still under development.As mentioned, supernets are built on Polygon Edge’s stack. They can be called an ecosystem, or blockchain system, as supernets are a set of modules that work and integrate seamlessly as new functions are added.With the help of supernets, developers can create a distributed blockchain network designed for a specific use case. Supernets also boast higher scalability, speed, consistent throughput and broad customization. Notably, they also allow Web3 application integration into dedicated networks, allowing maximum optimization.What is a Polygon supernet?Designed to be a scalability solution, Supernet is the Polygon network’s blockchain development platform that aims to help developers create their own blockchain protocols in a cost-efficient way. Developers building on the Polygon network can access a wide range of validators and tools for effortless integration and third-party services to assist with implementation, design and management.Technically, supernets work on problem-solving for Polygon’s development framework, Polygon Edge. Polygon Edge helps build Ethereum-compatible blockchains while keeping them secure, decentralized and efficient.The big picture concept of supernets is that they are collections of interconnected networks that promote collaborative work while serving as a secure data-sharing hub. They can hold and organize large quantities of data and facilitate communication among users.The benefits of using Polygon supernets include interoperability, specificity, enhanced scalability, security and better decentralization. Supernets also address Polygon Edge’s technical challenges really well, especially regarding chain configurations and bootstrapping decentralized validator sets.Related: What is a supernet, and how does it work?