Category: Cryptocurrency News

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Avalanche (AVAX) has recently spiked by as much as 11% in the past seven days, surpassing other leading cryptocurrencies.         August shows a whopping 46 million transactions made on the Avalanche network         Avalanche network busy with major developments and integrations         4-hour chart for AVAX shows bullish movement It is presumed that the recent developments on the Avalanche network helped immensely with the gains of AVAX. August registers roughly 46 million transactions made on the Avalanche network which is a relatively high number to begin with. Related Reading: Cosmos Touches Highest Point Since May As ATOM Expands 25% Avalanche Price Looking Optimistic The daily chart for AVAX looks optimistic. On the other hand, some on-chain metrics also reveal the potential for the altcoin to swerve down. According to CoinMarketCap, AVAX price is up by 0.33% or trading at $20.39 as of this writing. Over the past couple of days, the Daily Gas Usage of AVAX was able to touch the ATH of 462,891,881,113 which is a great sign that shows an increase of users supporting Avalanche. More so, the DFK Chain was found out to contribute greatly to the increase in gas usage. Additionally, the Avalanche network is also busy with major developments and partnerships going on as announced at the network’s TVL Weekly Dashboard. Some of the major integrations include FTX Japan listing AVAX on their website and also Avalanche’s partnership with Bubblemap designed to pave way towards a faster and optimized Web3 user experience. AVAX Price, Volume Up After Network Update With these updates happening, AVAX went north and the pump in price came by default. Apart from the increase in price, AVAX also skyrocketed in terms of volume which hints a further upswing. With AVAX price climbing on the charts, developments on the Avalanche network has also subsided which is not a good sign at all. Apart from developments dwindling down, AVAX social volume has also nosedived which demonstrates the waning interest of the community in Avalanche. Chart from TradingView.com Although a couple of metrics suggest a decline, the four-hour chart of AVAX suggests that the token could be offshooting targets with several metrics going green for AVAX. Evidently, RSI is showing an uptick which hints a price increase that could happen in the next couple of days. More so, the 20-day EMA touching the 55-day EMA shows a bullish crossover. On the other hand, the CMF has plunged which hints a bearish movements. While the MACD data shows some bullish streaks, this could flip soon to go bearish with the red lines outpacing the blue lines, hindering any chance of a price rally. Related Reading: Binance Coin Surpasses 1 Billion Trading Volume After BNB Network Upgrade AVAX total market cap at $5.7 billion on the daily chart | Source: TradingView.com Featured image from ABC of Snowboarding, Chart from TradingView.com

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Bitcoin (BTC) despite showing bearish signs against tether (USDT) as the price plunged to $18,500 recently, with many traders and investors sweating on their long open position.  The price of Bitcoin (BTC) quickly bounced off from that region after forming a bullish divergence on the four-hour chart and has shown no intention of stopping. (Data from Binance) Related Reading: Cosmos Touches Highest Point Since May As ATOM Expands 25% Bitcoin (BTC) Price Analysis On The Weekly Chart The price of BTC has had a tough time maintaining the bullish momentum it has shown in recent weeks as the price was rejected from the $25,200 area acting supply zone for most sellers. BTC has struggled to trend higher after it saw its price drop from a rising wedge as this triggered most sell orders, leaving BTC’s price to retest its previous all-time high, leaving many worried as the price could go lower to $10,000. The price of BTC could face another scenario, but in this case, its trends are higher ahead of the weekly close. Haven bounced off pretty well from the last weekly low, and claiming the support at $20,700, BTC could be ready for a major run to $24,000-$25,000 if the weekly candle closes above $21,700. BTC’s price looks bullish ahead of the weekly close and could trend even higher as the market looks promising ahead of the new week. BTC has continued to respect the downtrend line acting as resistance for BTC price on the weekly timeframe; if BTC breaks above this trendline, we could see more bullish sentiments.  Weekly resistance for the price of BTC – $24,000. Weekly support for the price of BTC – $20,700. Price Analysis Of BTC On The Daily (1D) Chart The daily timeframe for BTC price looks bullish, with prices looking to close the day and week on a high. The price of BTC bounced off from a daily low of $19,000, and the price rallied to $21,600, where it is faced with resistance to breaking above this region. The price of BTC needs to break above $21,600 and close above it to have a good opportunity of rallying to the expected $24,000. If the price of BTC fails to break this region, we could see the price retesting the region of $20,700, which has been an area of good support for the daily timeframe. On the daily timeframe, the price of BTC is trading at $21,500, attempting to break and hold above the 50 Exponential Moving Average (EMA). The price of $21,600 corresponds to the 50 EMA, which is a resistance to the price of BTC. With BTC looking to break its major resistance on the daily timeframe, this corresponds to the 23.6% Fibonacci retracement value of $22,000. The price of BTC holding above this region would lead to more bullish sentiments. The Relative Strength Index (RSI) for BTC is above 50 on the daily chart, indicating high buy order volume. Daily resistance for the BTC price – $21,600. Daily support for the BTC price – $20,700. Related Reading: Kyber Network (KNC) Ticks All Bullish Sentiments, Can Price Go To $3? Featured Image From zipmex, Charts From 

Hi guys as every sunday, I like to share this stats with you as I'm Venezuelan "living" here. We see a nice 9 BTC increase from last week, nothing special happened so I don't know why the increase. Around 9% of the traded amount in LocalBitcoin (worldwide). LocalBitcon is the only "exchange" that post all…
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