
Avalanche (AVAX), the blockchain platform known for its high throughput and low fees, is making waves in the world of decentralized sports betting and streamlining crypto onboarding. With a current market cap of $12.8 billion, AVAX ranks 12 among cryptos and has a 24-hour trading volume of $391, a 23% gain in the last 24 hours. As of writing, AVAX is trading at $33.61, down 5.92% over the last 24 hours.
LiveDuel, a decentralized sports betting exchange, is launching its platform on an Avalanche Subnet. This move allows LiveDuel to leverage Avalanche's strengths, including transparency, liquidity, and near-instant transaction finality, for fast bet settlement. The team aims to provide a truly frictionless blockchain gaming experience that appeals not just to Web3 natives but also to traditional gamers who may be skeptical of crypto.
In another development, the payment giant Stripe expanded its crypto integration to include Avalanche and its native wallet, Core. This integration allows U.S. users to purchase AVAX directly through Stripe without using a cryptocurrency exchange. Core wallet users can now select Stripe as a crypto purchase option and fund their wallets using various methods supported by the payment gateway, such as ACH, debit cards, and credit cards.
Over the past several weeks, AVAX has closed bearishly after hitting a high of $65.38 on March 18th. Since then, the price has corrected by 55%, finding support around the $30 zone. For the last four weeks, AVAX has been trapped in a consolidation phase, trading between $30 and $39.
On April 12th, AVAX broke down from an ascending channel impulsively and dropped to test support at the $30 zone on April 13th, where it faced rejection. Since then, the price has been trading in a range between $30 and $39, with consolidation occurring.
If AVAX faces rejection at the $30 support level, it could recover and rally to test the $39 range resistance and the ascending channel resistance around $46. However, if the price breaks down past the $30 level, it may drop to test lows around $21, making a recovery harder. Traders can "trade the range" until a breakout or breakdown occurs, but proper risk management and trend confirmation are crucial.
Predictions: AVAX could target higher resistance levels at $40 and potentially $45, provided it maintains critical support at $30.
Overall, Avalanche's recent partnerships and integrations highlight its growing presence in the crypto and blockchain space, while its technical analysis suggests the potential for further upside if key support levels hold.
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