Crypto News – AVAX, the native coin of the Avalanche ecosystem, is showing a lot of momentum with the altcoin market’s revival. With a market valuation of $7.62 billion, the price of AVAX has increased by 8% over the day to $22.69.
AVAX Price Increase Driven by Avalanche and Republic Partnership
The technology company Republic has disclosed that it is working with Avalanche (AVAX) to launch the Republic Note (R/Note), a digital asset intended for profit-sharing that aims to democratize investing in the private market.
The benefits of the blockchain are what led to Avalanche being chosen as Republic Note’s launch platform. Republic Note holders may expect a seamless and cost-effective transaction experience due to Avalanche’s scalability and quick transaction rates. Furthermore, Avalanche’s technical competence and dependability are demonstrated by its strategic agreements with prominent industry players like Mastercard and Amazon Web Services.
AVAX Price Forecast
At present, the price of AVAX is above both $21.36 and the 100 simple moving average. The AVAX/USD pair’s chart shows the formation of a significant bullish trend line, with support located at $20.50. The $24.50 region represents the first direct resistance, with $25.00 marking the location of the second major obstacle.
If seen an upward breakout above $24.50 and $25.00, the price could rise significantly, maybe even above 20%. If that were the case, the price might rise gradually to around $30.