Summary
TLDR: AVAX price has increased by 8.15% due to bullish trends, with 75% of holders in profit. Ichimoku cloud lines suggest further growth potential towards $70. Historical break-even price shows previous uptick led to a sharp price increase. Ichimoku analysis indicates a moderately bullish sentiment, with resistance at $63.43 to $65.14. Investors are monitoring for a transformative phase for AVAX.
Key Points
1. The AVAX price grew by 8.15% over the past week, buoyed by bullish trends signaled by the Ichimoku cloud lines, indicating a potential for further growth of Avalanche. Currently, three-quarters of AVAX investors find themselves in the green, a significant statistic often preceding pivotal asset value movements.
2. AVAX Currently Has 75% of Holders at Profit. An impressive three-quarters of AVAX holders, equating to some 5.72 million addresses, are now seeing profits following a recent uptick in the coin’s value – a noteworthy shift from the 50-60% profitability range that had been the norm over the preceding months.
3. Ichimoku Clouds Are Drawing a Potential Bullish Scenario. The Ichimoku analysis of AVAX reveals a moderately bullish sentiment due to the price positioning above the cloud, which tends to indicate an upward trend. The cloud appears to be changing color from red to green, suggesting a shift towards a bullish market as Span A rises over Span B.