Is It Too Late to Buy Avalanche? AVAX Price Rockets Up 18% as FriendTech Rival Takes Off and New Bitcoin Project Raises $500,000
As SocialFi takes crypto markets by storm, Avalanche (AVAX) has joined the race – with the launch of FriendTech rival Star Arena, fuelling a dramatic +18% price surge.
The initial launch of Star Arena has been incredibly well-received, with the platform undertaking an impressive +3,600% rise in total-value locked.
The influx of capital racing into the new platform has bolstered AVAX in a much-needed boost to network transactions (which had been declining all summer).
AVAX Price Analysis: How High Will Avalanche Skyrocket With Star Arena?
Amid the bullish developments, Avalanche is currently trading at a market price of $10.06 (representing a 24-hour change of -0.40%).
The recent bounce comes following reclamation of 20DMA support on September 28 – a move that ended 67-days of impenetrable moving average resistance.
In the meanwhile, the 200DMA still stands high above ongoing price action at $13.49 – above the upper trendline.
With price intent on pushing up following the bullish shift in AVAX network fundamentals, $10.50 now forms the immediate upside target.
Looking at technical indicators, it can be seen that the RSI has fired-up on the recent bounce, overheating to over-bought bearish divergence at 61.91.
This suggests price has an imminent need for retracement or consolidation – and could limit upside on the short-time frame.
However, the MACD has flipped to bullish divergence at 0.18 – signalling the growing momentum fuelled by the SocialFi move.
Overall then, AVAX appears technically poised here – with strong footing providing the basis for a potential break-out rally – however, this may come following a brief period of consolidation and minor localized retracement.
To the upside, AVAX is targeting a major break above the upper trendline to $12.25 (a possible +20.22%).
While, to the downside price could tumble back to the 20DMA support here at $9.12 (a potential -10.5%).
This leaves Avalanche with a risk: reward of 1.93 – a strong entry with great upside potential.
However, this is also a move fraught with potential rejections as the RSI over-heats, and this has led some traders to turn to Bitcoin Minetrix as an alternative play.
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Bitcoin mining, long seen as a domain dominated by colossal corporations with their deep pockets and access to state-of-the-art equipment, is undergoing a transformation.
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In a move aimed at side-lining energy-guzzling equipment, Bitcoin Minetrix provides an avenue where BTCMTX token holders can stake their tokens to receive mining credits.
These credits unlock the door to efficient Bitcoin cloud mining, making the process sustainable, secure, and, importantly, within everyone’s reach.
And so far the BTCMTX presale has been an undeniable success, with more than $525,000 raised in the first week.
Here’s Why BTCMTX is Set to Explode Upon Launch
Initiating their ICO with a starting price tag of just $0.011 for the BTCMTX token, Bitcoin Minetrix isn’t asking for a fortune but an opportunity.
An opportunity for investors to be a part of a transformation that could very well redefine the Bitcoin mining landscape.
And if the initial figures are anything to go by—with the project raising $115,000 within a day of the ICO announcement—investors are eager to hop on board this mining juggernaut.
What’s even more compelling is that this is not just an investment in a token but in a future-proof concept; a concept that merges the best of both worlds: staking and mining.
The results? Large APYs and rewards in the form of BTC, all without the traditional barriers of hefty investments and technical know-how.
How Does BTCMTX Ensure Security and Transparency?
The crypto world, unfortunately, has had its fair share of scams, especially in the cloud mining sector and this is where Bitcoin Minetrix departs from the norm.
Not only does it provide a transparent mechanism of mining but it also empowers its investors. How? By ensuring they have constant control over their staked tokens and the flexibility to un-stake whenever they deem fit.
No hidden clauses, no fine print, just straightforward staking and mining.
Furthermore, for those concerned about the safety of their investment, the BTCMTX smart contract underwent meticulous auditing by Coinsult, a respected blockchain security entity.
The verdict? Clean as a whistle.
Bitcoin Minetrix stands tall, not merely because of its unique proposition but its commitment to making Bitcoin mining a universal venture.
With just a minimum investment of $10, it’s demolishing the barriers to entry, proving that you don’t need millions to be part of the mining elite.
For those seeking to ride the next wave of crypto innovation, the Bitcoin Minetrix presale is an avenue worth exploring.
In a world where Bitcoin’s derivatives are gaining traction, this is a project that not only promises returns but also champions the democratization of Bitcoin mining – a true game-changer in every sense of the word.
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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.