Avalanche’s native token AVAX recently made its place among the top gainers in the Avalanche ecosystem. This was good news for the token as it gave investors hope for better days ahead. Interestingly, AVAX’s daily chart reflected this development as the price surged by more than 2% in the last 24 hours. Top Gainers in […]
While these developments took place, a few metrics supported
, suggesting a price hike in the coming days. For instance, after declining over the last week, AVAX’s volume went up slightly in the last few days. This was a positive signal for the blockchain.Not only this, but AVAX’s Binance funding rate also registered an uptick lately, indicating higher demand from the derivatives market.However, AVAX did come across some roadblocks. A few metrics suggested that a price correction was on the way.
The Money Flow Index was also resting below the neutral mark, which was yet another bearish signal. Interestingly, the Moving Average Convergence Divergence displayed a tussle between the bears and the bulls. A green flag for AVAX was that the Chaikin Money Flow that registered an uptick. Furthermore, the token’s Relative Strength Index , after getting near the oversold zone, went up, giving hope to investors.Subscribe to get it daily in your inbox.
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