The bulls are gearing for a simple trade on Avalanche (AVAX) and new bullish rated token

Avalanche (AVAX) has been experiencing mixed signals in the market, with both bullish and bearish indicators. On the bullish side, AVAX recently broke out of its multi-week range and retested a strong supply zone of $21 – $22. However, buying pressure weakened, and short-term gains led to a quick retracement.

Collateral Network (COLT), a new token from an up and coming DeFi borrowing and lending solution, has risen by 40% since the beginning of presale, and its revolutionary NFT based model is attracting the attention of investors seeking gains and innovation.

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Avalanche (AVAX) short term price analysis

Avalanche (AVAX) predictions are currently bearish, after the currency dropped significantly on the 19th April. The bulls were unable to push the price above the resistance level and the trend favors bears as the price has dipped to $19.12 in the last 24 hours. Avalanche (AVAX) may experience a quick retracement before attempting a rebound, and near-term bulls could wait for the rebound before entering the market.

The Avalanche (AVAX) price is expected to remain range-bound until new catalysts appear that will indicate a change in market sentiment. If the current trend continues, Avalanche (AVAX) could drop to support levels of $18.70 or even $18.79. However, there is a possibility of bullish momentum taking over if buyers enter the market and can push Avalanche (AVAX) above the resistance level of just under $21.

Investors should also keep an eye on Bitcoin's (BTC) movements, as it is still trading within the lower part of its recent range of $29.6k – $30k and any significant swing upwards or downwards will affect the Avalanche (AVAX) trajectory.

What is the longer term potential of AVAX?

When the bull market comes back in full swing it will be very interesting to see the effect on the Avalanche (AVAX) price, especially given the chain's reputation as fast, affordable fees and suitable for institutional investors. Defilama tells us that the TVL of Avalanche (AVAX) was around 12 billion at the height of the 2021 bull market, which is a far cry from the $835 million TVL of today, indicating the potential for AVAX but not the current reality.

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Which new token is exciting the bulls and why?

A new project named Collateral Network (COLT) has piqued the interest of traders who are keeping their fingers on the pulse of the DeFi landscape. Collateral Network (COLT) seeks to address the issues in the current borrowing and lending market; invasive credit checks, slow approvals and the inaccessibilty of credit to many around the world.

The premise of Collateral Network (COLT) is simple. If you have a valuable asset that you wish to unlock the value of and borrow against, you offer it up as collateral, upon which it is valued by experts, put in a licensed vault or safe, and then Collateral Network (COLT) issues an NFT which represents the asset. This can then be fractionalised and sold to lenders looking to receive better rates of interest than the banks can offer, and a way to gain a passive income.

Real estate, gold, silver, fine art or luxury alcohol are some examples of viable assets with Collateral Network (COLT).

Price wise, Collateral Network (COLT) is still in presale, offering another great opportunity for investors to make money, as COLT is currently on offer for $0.014, and according to their socials, Collateral Network (COLT) will launch for a minimum price of around $0.5. Crypto analysts are then predicting a 100x for Collateral Network (COLT) when it is listed on exchanges. Ultimately, COLT is a strong contender for anyone looking to bring the potential of big gains into their portfolio.

Conclusion

Whilst Avalanche (AVAX) is a solid project with a potentially bright future, the current technical analysis shows us that the short term future is difficult to predict.

Collateral Network (COLT) is a new and innovative project, and given that the coin is only in the second stage of an 11 stage presale where prices increase in each tranche, this might be an easy play for the bulls.

Find out more about the Collateral Network presale here:

Website: https://www.collateralnetwork.io/

Presale: https://app.collateralnetwork.io/register

Telegram: https://t.me/collateralnwk

Twitter: https://twitter.com/Collateralnwk