Avalanche Price at $93.08 after 12.6% dip – How to buy AVAX

Share This Post

The crypto market suffered a major dip on Thursday, with the entire market capitalization dropping by around 8% to $2.1 trillion. The market-wide sell-off has affected most coins in the market that are now trading in the red zone. One of the biggest losers during the past 24 hours is Avalanche (AVAX). Avalanche is trading at $93.08 at the time of writing after a 12.6% dip in 24 hours.

AVAX price analysis

AVAX price analysis Jan 6

Avalanche was one of the best performing tokens during the last quarter of 2021. However, it is now leading the broader market in making losses. The double-digit gain made during the past 24 hours has placed the token 35.7% below its all-time high.

Avalanche could continue with the current dip if the broader market fails to show signs of recovery. Currently, there is increased selling pressure, which could lead to Avalanche testing lower support levels. The lowest level reached during the past 24 hours was $92, and this support could be retested again.

Further dips in the market could lead to Avalanche pushing lower towards the support levels of $90. Pushing below $90 could create an opportunity for traders to accumulate during the dip after being left out of previous rallies.

On the upside, there could also be notable gains for AVAX if the broader market recovers. A recovery could push buyers towards buying more for profit-booking, triggering a recovery past $95. If AVAX recovers, the price target will be $100 and beyond.

Avalanche and the rest have dipped following news that the US Federal Reserve will increase the interest rates to deal with the rising inflation rate. This prompted a market-wide sell-off in both the crypto and the stock markets. The higher interest rates are expected to come into effect in Q1 2022.

Where to buy Avalanche

If you want to buy AVAX, you can create an account on the following platforms:

  • eToro

You can buy cryptocurrencies from eToro. eToro is one of the leading exchanges, and it supports a variety of cryptocurrencies and trading pairs. It also has a user-friendly interface.

  • Binance

You can also buy AVAX from Binance. Binance is the largest cryptocurrency exchange platform, supporting over 300 cryptocurrencies. Binance charges some of the lowest trading fees and offers user-friendly features.

Your capital is at risk.

Read more:

Read Entire Article

Related Posts

Bitcoin Bonanza Before The Halving? Analyst Sees Pre-Crash Buying Window

Bitcoin, the pioneer and flagbearer of the digital currency realm, has once again captured the attention of investors Recent market dynamics have prompted discussions among analysts and enthusiasts

US Spot Bitcoin ETFs See $55.1M Outflow; GBTC Divests 2,048 BTC Amid Market Volatility

Data shows that US spot bitcoin exchange-traded funds (ETFs) experienced negative outflows on Friday, totaling $551 million, with Grayscale’s Bitcoin Trust (GBTC) seeing another notable

Bitcoin is the only way out of feudalism

The following is a guest post by Kadan Stadelmann, the CTO of Komodo Blockchain The US has undergone an immense consolidation of wealth and power in recent years Americans everywhere are suffering

Coinbase Launches Interlocutory Appeal In SEC Case – Details

Coinbase is seeking an interlocutory appeal in its ongoing court case with the US Securities and Exchange Commission (SEC) This petition marks the latest development in a highly-monitored lawsuit

Bitcoin ETF Issuers Push Holdings To 4.27% Of BTC Supply Amid Crash To $61,000

There’s no denying the launch of Spot Bitcoin ETFs has done wonders for the price of Bitcoin and other cryptocurrencies in general These ETFs have now unlocked institutional demand into the

USDE and FDUSD Experience Brief Depegs Amid Saturday’s Crypto Market Shake-Up

The fifth-largest stablecoin in the crypto economy by market capitalization, Ethena’s USDE, temporarily detached from its peg on Saturday amid market declines Data reveals that the token,
- Advertisement -spot_img