{"id":42600,"date":"2021-11-18T05:19:23","date_gmt":"2021-11-18T04:19:23","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=42600"},"modified":"2021-11-18T05:19:23","modified_gmt":"2021-11-18T04:19:23","slug":"avalanches-avax-rally-may-not-stop-just-yet","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/avalanches-avax-rally-may-not-stop-just-yet\/","title":{"rendered":"Avalanche’s [AVAX] Rally May Not Stop Just Yet"},"content":{"rendered":"
The losses sparked a major sell-off across the board this week. Avalanche [AVAX]<\/a>,<\/strong> on the other hand, has decoupled<\/strong> from the rest of the market and witnessed an impressive run leading up to its ATH of $110.31. As a matter of fact, it has clocked in over 3,300% gains this year.<\/p>\n <\/p>\n More importantly, the smart-contracts platform Avalanche’s native token appears to have invalidated the signs of its rally weakening<\/strong>. The growing institutional interest in the crypto-asset has been a major catalyst behind the latest price appreciation. The lack of retail hype in the AVAX ecosystem, however, has not been able to pull the price down as the institutional demand conveniently made up for it.<\/p>\n As for the ongoing trend, AVAX may be poised for another leg up<\/strong>. The volatility<\/strong> has been consistent throughout the week. While the volume<\/strong> is yet to reach Aug-Sept highs, but it has supported the current uptrend.<\/p>\n <\/p>\n The 50 daily moving average [Pink] noted a reversal after converging hints with the 100 daily moving average [Blue] following last week’s minor pullback. Following this, the bulls have gathered the strength to flip the market on the upper side. Besides, the 200 DMA [Yellow] continued to lay low.<\/p>\n <\/p>\n Awesome Oscillator’s [AO]<\/strong> green closing bars on AVAX’s daily chart demonstrated the rising bullish momentum<\/strong> in the market. Chaikin Money Flow [CMF]<\/strong> echoed a similar sentiment while indicating an increasing capital inflow<\/strong>. The daily Relative Strength Index [RSI]<\/strong> has risen above 74-level, visibly depicting a buyers’ market<\/strong>.<\/p>\nSigns of easing bullish power?<\/h2>\n