{"id":27529,"date":"2024-08-24T13:00:02","date_gmt":"2024-08-24T10:00:02","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=27529"},"modified":"2024-08-24T09:22:42","modified_gmt":"2024-08-24T06:22:42","slug":"avalanche-avax-gains-momentum-is-a-bull-run-on-the-horizon","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/avalanche-avax-gains-momentum-is-a-bull-run-on-the-horizon\/","title":{"rendered":"Avalanche (AVAX) Gains Momentum: Is a Bull Run on the Horizon?"},"content":{"rendered":"

The cryptocurrency landscape is abuzz with excitement as Avalanche (AVAX) forges a strategic alliance with Franklin Templeton, one of the world’s premier asset management firms. This partnership has sent ripples through the market, potentially signaling an upward trajectory for AVAX.<\/p>\n

In a groundbreaking move, Avalanche<\/a> announced its collaboration with Franklin Templeton in the realm of real-world assets (RWA). The decision by this financial behemoth, overseeing a staggering $1.6 trillion in assets, to choose Avalanche has turned heads industry-wide.
\nThe partnership will see Franklin Templeton’s assets tokenized on the Avalanche blockchain. Following this announcement, AVAX experienced a notable surge, climbing nearly 10% within a 24-hour period.<\/p>\n

Coinpedia, a respected voice in the crypto space, offered insights into AVAX’s future prospects:<\/p>\n

“AVAX appears to be entering an accumulation zone prior to a potential bull run. We might witness a new all-time high (ATH) in early 2025.”
\nAnalyzing AVAX’s Chart: Is an Upswing Imminent?<\/p>\n

Coinpedia drew parallels between AVAX’s current consolidation pattern and its 2021 bull run, suggesting that the long-term price action could potentially lead to a new ATH.<\/p>\n

Their analysis indicates that AVAX’s price may remain in a consolidation phase for some time. The popular cryptocurrency is expected to reach its rally peak in 2025.<\/p>\n

After dipping below $18 on August 5th, AVAX has shown signs of recovery in recent days. Currently trading around the $23 mark, the digital asset is inching closer to significant resistance levels.<\/p>\n

Coinpedia reminds us that AVAX is in a consolidation phase and gaining strength. They suggest that the $28 resistance level could be breached.<\/p>\n

While Bollinger Bands are converging, an expansion seems unlikely at this point. Coinpedia states that once AVAX surpasses the average Bollinger Bands and approaches $30, the downward pressure may subside.<\/p>\n

Looking at Fibonacci levels, Coinpedia concludes:<\/p>\n

“If AVAX’s price breaks above the consolidation by the end of September, we could see a new ATH around the $154 level.”<\/p>\n

This resurgence of Avalanche serves as a reminder of the dynamic nature of the cryptocurrency market, where strategic partnerships and technical indicators can potentially forecast significant price movements.<\/p>\n

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0Telegram,\u00a0<\/strong><\/a>YouTube<\/strong><\/a>,\u00a0and\u00a0Twitter<\/strong><\/a>\u00a0channels for the latest\u00a0news<\/a> and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The cryptocurrency landscape is abuzz with excitement as Avalanche (AVAX) forges a strategic alliance with Franklin Templeton, one of the world’s premier asset management firms. This partnership has sent ripples through the market, potentially signaling an upward trajectory for AVAX. In a groundbreaking move, Avalanche announced its collaboration with Franklin Templeton in the realm of<\/p>\n","protected":false},"author":1,"featured_media":8063,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[273,272,8119,1269],"class_list":["post-27529","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-avalanche","tag-avax","tag-coinpedia","tag-rwa"],"yoast_head":"\nAvalanche (AVAX) Gains Momentum: Is a Bull Run on the Horizon? - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/avalanche-avax-gains-momentum-is-a-bull-run-on-the-horizon\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Avalanche (AVAX) Gains Momentum: Is a Bull Run on the Horizon? - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"The cryptocurrency landscape is abuzz with excitement as Avalanche (AVAX) forges a strategic alliance with Franklin Templeton, one of the world’s premier asset management firms. 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