InstaForex

August 26, 2021

Will Record the Latest ATH? Avax Gets More Potential Day By Day!

 The DeFi ecosystem seems to be showing encouraging development day by day.


The August trading session, the Avalanche has seen a 380% jump to reach its latest high of $ 58.97, which almost broke the previous ATH of $ 60.30.


Recently, SushiSwap has joined the ‘Avalance Rush’ liquidity mining incentive program with a combined allocation of $ 15 million.


#AvalancheRush is welcoming a new member to the lineup!


Hope you’re coming with an appetite because @SushiSwap is now on the menu.


The largest DeFi incentive program ($ 180M) now just got better. #AVAX https://t.co/J5ibiei3s9


- Avalanche (@avalancheavax) August 24, 2021


The Avalanche Foundation will work closely with Sushi and other major projects, including Aave, Curve, Stake DAO, and BENQI.


The $ 180 million ‘Avalanche Rush’ that was just launched a few weeks ago is now getting better and the program has strongly supported Avax’s drastic price spike.



Next, examine the current movement chart of the AVAX/USDT price.


When the Avax analysis article was released a few weeks ago, Avax was trading at the $ 30 price level, consistently Avax saw a drastic jump of almost 100%.


From a technical point of view, the price movement is seen to show a weak movement and is hovering above the level of RBS (resistance become support) $ 42.


According to the forecasts of crypto analysts, if the price movement remains with a downtrend, the RBS $ 42 level will be tested first before continuing the decline to lower levels.


However, if the price movement again shows an uptrend, the $ 52 resistance level will be the next focus to be tested before making a higher jump and recording the latest ATH.


At the time of writing, Avax is trading at the $ 45 price level down over 13% in the last 24 hours. The coin is currently ranked 22nd on the crypto chart.