Avalanche (Avax) Jumps by 12% Due to Steady Adoption in the Crypto Market

Azeez Mustapha


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AVAX has proven to be quite resilient to the selling pressures, despite the fear, uncertainty, and doubt that investors in the cryptocurrency community are experiencing as a result of the failure of the three major U.S. banks. AVAX has impressively been increasing steadily since the start of the year. It’s worth noting that even while the state of most altcoins in the cryptocurrency market was still critical, Avalanche kept enjoying mass adoption from investors and developers.

Investors’ interest has been piqued once more as a result of the recent public statement regarding the partnership with Tencent Cloud and the Amazon Web Service. This led to the recent buying of AVAX from the discount. Moreover, Avalanche has experienced a huge uptake in the cryptocurrency industry as a result of its use case, particularly in the provision of excellent support in the deployment of multifunctional chains, dApps, and smart contracts.

Key Avalanche Levels To Watch – March 15

Avalanche (Avax) Jumps by 12% Due to Steady Adoption in the Crypto MarketThe current trading range of AVAXUSD is bounded by the $10.57730 support and the $22.79630 resistance. Following the bounce off the 61.80% Fibonacci retracement level in the discount, the price surged upward rapidly as the bulls stormed the market.

From the $10.57730 support, a fair value gap was formed during the rally towards the $22.79630 resistance. However, the fair value gap has been filled as the price retraced downward to hit the 61.80% Fibonacci retracement level. AVAXUSD might keep expanding upward since the overall trend is bullish.

Avalanche Key Levels

Resistance Levels: $37.86780, $30.86770, $22.79630
Support Levels: $14.60940, $10.57730, $9.29170

Total Market Capitalization: $1.09T
Avalanche Market Capitalization: $5.48B
Avalanche Volume: $0.35B
Market Rank: #17

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

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