What to know:
- Avalanche (AVAX) breaks key resistance, hinting at a strong bullish move toward the $9.60–$12.80 range.
- An RSI above 60 and a MACD crossover signal are strengthening upward momentum in the short-term outlook.
- KB Kookmin Card builds a hybrid stablecoin system on Avalanche, boosting real-world adoption and utility.
Avalanche (AVAX) has risen above a major resistance level on the daily chart, indicating a possible positive trend change. According to crypto analyst Sniper Trading, the price will likely retest this resistance zone, which will act as support, a common price action in crypto trading.
If buyers manage to hold above this resistance, there will be more chances of seeing more positive price action in the short term.
Source: Sniper Trading’s X Post
Traders are looking at a potential long position at around $8.75, with potential longs at the $9.60–$10.50 and the $11.50–$12.80 levels. A stop loss just below $8.20 acts as a risk limitation in case the idea does not materialize.
It is important to maintain the level of support, as a clean test could result in further gains, while a break could negate the idea altogether.
Also Read: Avalanche (AVAX) Could Rally to $120 as Ecosystem Growth Accelerates
Momentum Indicators Support Upward Price Trajectory
According to TradingView, the level of the RSI for AVAX is at 60.37, which indicates that the momentum of the bulls is increasing. It has risen significantly from the low of around 40 and has shown a strong indication of the return of buyers in the market.
Since the level of the RSI is still below 70, the price is expected to appreciate further. This shows a positive sentiment in the market in April.
Source: TradingView
The MACD indicator just recorded a new bullish crossover, as the blue indicator line crossed above the orange signal line.
The green bar also confirms this, indicating a buildup in short-term momentum. The positive readings for these indicators indicate that the recent run-up is gaining traction, possibly testing new highs.
Avalanche Powers New Stablecoin Card by KB Kookmin
Apart from this constructive price movement, KB Kookmin Card is creating a hybrid payment system using the Avalanche blockchain, combining stablecoins and traditional credit, as per CoinMarketCap.
The move enables users to make transactions using either digital currencies or fiat credit through the same card, making the payment process convenient and bridging the gap between traditional banking and new-age financial services facilitated by blockchain technology.
Source: CoinMarketCap’s X Post
With the fast and cheap network of Avalanche, the goal is to enable seamless and real-time payments.
With the flexibility and familiarity of the hybrid model, the use of stablecoins could gain traction, and with this, South Korea is at the forefront of integrating cryptocurrency with traditional consumer payment solutions.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
Also Read: Avalanche (AVAX) Descending Triangle Signals $30 Breakout
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