{"id":84391,"date":"2023-11-14T10:24:37","date_gmt":"2023-11-14T15:24:37","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/is-avalanche-going-to-zero-avax-price-drops-like-a-stone-as-under-the-radar-coin-achieves-4-million-milestone-whats-going-on\/"},"modified":"2023-11-14T10:24:38","modified_gmt":"2023-11-14T15:24:38","slug":"is-avalanche-going-to-zero-avax-price-drops-like-a-stone-as-under-the-radar-coin-achieves-4-million-milestone-whats-going-on","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=84391","title":{"rendered":"Is Avalanche Going to Zero? AVAX Price Drops Like a Stone as Under-the-Radar Coin Achieves $4 Million Milestone \u2013 What’s Going On?"},"content":{"rendered":"
\n

Ethereum rival Avalanche is battling a major retracement move as AVAX price drops like a stone, and in other news, an under the radar Bitcoin mining project has hammered up to its $4 million milestone.<\/p>\n

The retracement move, which has so far been well-defended by Avalanche bulls, appears to have been triggered by a historical resistance level around $20, which has so far rejected AVAX price action three times in 2023.<\/p>\n

\n

$SOL<\/a> and $AVAX<\/a> will have futures trading tomorrow in #Coinbase<\/a> <\/p>\n

This could bring these two alts higher and possibly closer to ETH price maybe but just noticed their DEX alts have same algo \ud83d\udc47<\/p>\n

Solana = Marinade $MNDE<\/a>
Avax = Pangolin $PNG<\/a> <\/p>\n

So DYOR on these two tokens . Their\u2026<\/p>\n

\u2014 Lola (@CryptoLollla) November 14, 2023<\/a><\/p>\n<\/blockquote>\n

However, market sentiment remains bullish, with traders hopeful of a Solana-style breakout pump by here, which some theorize could be fuelled by Coinbase listing AVAX futures trading later today.<\/p>\n

AVAX Price Analysis: As Avalanche Battles Retracement Move Can AVAX Price Form Second Rally Leg?<\/strong><\/h2>\n

<\/span>
Despite the ongoing battle with retracement, Avalanche is currently trading at a market price of $18.00 (representing a +11.91% 24-hour move).<\/p>\n

The upside recovery comes as AVAX price reels from a massive -18.75% drop yesterday, as price action rejected impenetrable resistance around $20.<\/p>\n

Now pushing up once more, Avalanche bulls are fighting to establish a strong consolidation level between $15.50 and $18, an area which formed a strong supply zone for 3 resistance tests back in Spring 2023.<\/p>\n

Support here seems likely with the rapid ascension of the 20DMA (sat at $13.25) soon to provide supportive footing at the consolidation level.<\/p>\n

This could poise price for a second retest of the overhead resistance level around $20, especially following the emergence of a golden cross with the 200DMA (sat at $12.25) on November 11.<\/p>\n

Yet, some cause for concern emerges from the overheated RSI, which is currently displaying substantial bearish divergence at 71.72 \u2013 suggesting price needs to consolidate or retrace ahead of another push up.<\/p>\n

However, this meets with contrast from the MACD indicator, which is displaying bullish divergence at 0.54 \u2013 reflecting the strong buy pressure fuelling rally momentum.<\/p>\n

Overall, AVAX price looks extremely strong here, with a much-needed retracement move quickly eaten up to establish a health consolidation zone around historic support, poising AVAX for a second rally leg once the ascendant 20DMA catches up.<\/p>\n

This leaves AVAX with a short-term price target above $20, around historic support at $21.75 (a potential +21.92%).<\/p>\n

While downside risk for AVAX price from here finds significant lower support nearby at $15.58 (a possible -12.67%).<\/p>\n

AVAX price action therefore carries a current risk: reward structure of 1.73 \u2013 a reasonable entry with good returns, and certainly not going to zero<\/strong> anytime soon.<\/p>\n

And in other news, amid a surge in Bitcoin mining activity, a new Bitcoin cloud mining presale has hammered up to a whopping $4m raised in a presale skyrocket \u2013 here\u2019s why.<\/p>\n

AVAX Price Retracement Alternative? Don\u2019t Sleep on Bitcoin Minetrix as Presale Explodes Nearly $4M Raised<\/h2>\n

<\/span>

Dive into the innovative world of\u00a0Bitcoin Minetrix\u00a0and its pioneering stake-to-mine system \u2013 as the skyrocketing presale smashes +$3,948,471 raised.<\/p>\n

Offering an enticing 1224% Staking APY, Bitcoin Minetrix provides a platform where users can buy, stake, and then watch as the rewards start accumulating.<\/p>\n

The true essence of passive income in the crypto world has never been this accessible.<\/p>\n

<\/figure>\n

With the Bitcoin Minetrix approach, gone are the days of heavy initial capital and navigating complex mining contracts.<\/p>\n

Bitcoin Minetrix Smashes $3.95M Raised as Traders Rally Against Bitcoin Mining Centralization<\/strong><\/h2>\n

<\/span>
No longer the mainstay of basement ASICs, Bitcoin mining is now a\u00a0multi-billion dollar industry<\/u>, but with the success of Bitcoin mining centers comes the challenge of increased centralization.<\/p>\n

Indeed, with just two mining pools (Foundry USA and Antpool)\u00a0representing 57.5%<\/u>\u00a0of the Bitcoin network hashrate, mining centralization is desperately in need of modern solutions to ensure long-term network security.<\/p>\n

This is where the magic of Bitcoin Minetrix comes into play, with Bitcoin cloud mining offering the opportunity for everyday investors to claim their slice of the pie \u2013 while bolstering Bitcoin\u2019s network security.<\/p>\n

All interested parties have to do is\u00a0buy $BTCMTX tokens in presale<\/u>\u00a0and stake them to earn cloud mining credits, with Bitcoin Minetrix\u2019s automated system handling the heavy work.<\/p>\n

In effect, this means no more expensive barriers to entry, such as costly hardware requirements or complicated technical understandings \u2013 simply buy, stake, and earn to unlock the benefits of Bitcoin mining rewards.<\/p>\n

Key Highlights of the BTCMTX Advantage:<\/strong><\/h2>\n

<\/span>
\u00a0<\/p>\n

    \n
  • Distinctive Edge in the Market:<\/strong>\u00a0In an industry filled with numerous cloud mining platforms, Bitcoin Minetrix carves a niche for itself. As the first-ever tokenized Bitcoin cloud mining initiative, it offers an automated system that\u2019s geared for cloud-based Bitcoin mining, setting a new standard for the industry.<\/li>\n
  • Safety First with Ethereum Blockchain:<\/strong>\u00a0Bitcoin Minetrix operates on the tried and trusted Ethereum blockchain. This ensures top-notch security and reliability, allowing users to sidestep the risks associated with external mining pools, and offering a safeguard against potential fraudulent cloud mining services.<\/li>\n
  • Championing True Decentralization:<\/strong>\u00a0At its core, Bitcoin Minetrix upholds the ethos of decentralization. In an age where centralization often introduces vulnerabilities, Bitcoin Minetrix breaks the mold, redistributing mining profits from big corporations to individual retail investors through its novel Stake-to-Mine system.<\/li>\n
  • Tapping into the Bitcoin Halving Opportunity<\/strong>: Perfectly poised to make the most of the upcoming Bitcoin halving, Bitcoin Minetrix provides investors with a golden opportunity. The impending halving might seem daunting for miners due to reduced block rewards, but historically, such events have driven up Bitcoin\u2019s value. Bitcoin Minetrix provides a platform for investors to tap into this potential surge, sans the associated capital risks.<\/li>\n
  • The BTCMTX Presale Opportunity:<\/strong>\u00a0The ongoing BTCMTX presale has already garnered significant interest, with over $3.9m raised towards its $4.4M goal. At a competitive price of\u00a0just $0.0116 per token<\/strong>, early investors have a unique chance to be at the forefront of this stake-to-mine evolution.<\/li>\n<\/ul>\n

    In sum, Bitcoin Minetrix is set to redefine the Bitcoin landscape. With its innovative methodologies, stringent security measures, and the vast potential of its stake-to-mine mechanism, it beckons as a lucrative opportunity for early-bird investors.<\/p>\n

    Secure your position in this transformative journey by joining the BTCMTX presale today.<\/p>\n

    Buy BTCMTX Here<\/strong><\/p>\n

    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.<\/sup><\/i><\/p>\n

    \n
    \n

    \n
    \n Enter your email for our Free Daily Newsletter <\/em>\n <\/p>\n

    A quick 3min read about today’s crypto news!<\/p>\n

    <\/span>\n<\/div>\n<\/p><\/div>\n<\/p><\/div>\n