Avalanche (AVAX) has experienced a momentum since the launch of its full mainnet in September.

 

The platform collaborated with Securitize, the primary issue and compliance platform for digital securities, to issue and manage private securities, enabling crypto users to benefit from private equity markets.

What does the partnership provide

The partnership between Avalanche, Roche Cyrulnik Freedman LLP and Republic Advisory Services allows investors to take advantage of the Litigation fund, opening up opportunities for a new asset class for crypto users.

With these, Avalanche has partnered with DEXs, Synthetics, prediction markets and more similar projects.

While these events have already been completed, the upcoming Apricot mainnet upgrade can be watched with curiosity by market participants. Another positive development underway is the integration of a bridge for the movement of ERC-20 and ERC-721 assets between Avalanche and Ethereum.

 

Technical analysis

AVAX rose from $ 3,2283 on January 4th to $ 8,2356 today, with an increase of 155% in a short time. In a strong uptrend, corrections usually take no more than three days and this can be seen in the current uptrend starting on December 31st.

The bulls pushed the price above the $ 7.50 resistance today and continued its uptrend, which could reach $ 10.42 and then $ 12.20.

The rise over the past few days has pushed the relative strength index (RSI) into the overbought zone. This indicates excessive buying in a mature rally and strength in a new uptrend.

If the AVAX / USD pair declines and falls below the intraday low of $ 5.72 on January 11, this bullish outlook will become invalid.

Such a move could push the price to the 20-day exponential moving average ($ 4.84).

In such a case, the pair could consolidate for a few days before starting the next trend move.

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