Is It Too Late to Buy Avalanche? AVAX Price Soars 22% Amid $6 Million Raise by Eco-Friendly Protocol
Avalanche (AVAX) is up 22% from where it was this time seven days ago as it holds onto more gains than any other top fifty cryptocurrency in the midst of a market-wide pullback today.
AVAX currently changes hands at $57.73, a marked decline of about 5.2% from its price 24 hours ago, according to CoinGecko.
However, AVAX’s depreciation is more or less in line with market leader Bitcoin (BTC), which fell 5.3% overnight and currently trades for $64,097, nearly 15% short of its all-time high of $73,737.94, set last Thursday, March 14, 2024.
AVAX is crypto’s most exceptional coin this morning, however, because most leading cryptocurrencies declined over the last seven days.
Bitcoin fell by 11.9% over the week, while its closest contender, Ethereum (ETH), dropped 19%, making it one of the heaviest losers among the largest market cap coins. Cardano (ADA), Dogecoin (DOGE), Shiba Inu (SHIB) Polygon (MATIC) and Uniswap (UNI) posted similar losses to Ethereum.
AVAX’s trading chart tells a fairly typical story for any leading cryptocurrency over the last three months. There is relative stability throughout most of February and then what looks like a mini bull-run in March.
Holders of AVAX differed to other crypto fans in that their March bull run had a delayed onset. While most leading cryptocurrencies began rallying sharply at the turn of the month, AVAX holders didn’t see any momentum until March 11. This could be why AVAX has held onto more of its gains than most leading cryptocurrencies today.
With a Relative Strength Index (RSI) of 48.5, AVAX’s losses are likely to cool off as recent selling activity winds down.
While AVAX held the fort, another altcoin just raised a tidy $6 million over a two-week long presale: enter Green Bitcoin
