AVAX has surged to new heights, reaching $28.74 last week amidst a bullish market influenced by Bitcoin’s rally to $60k. The Avalanche development team is actively working on multiple on-chain updates, further supporting this price increase.
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AVAX Gaming Thrives With New Projects
Despite the relatively small gaming sector in crypto, platforms like Avalanche offer developers a secure blockchain for deploying crypto games. Fableborne recently reported a successful play-to-airdrop event with over 77,000 concurrent players, showcasing the growing gaming ecosystem on Avalanche.
@fableborne wrapped up its first Play to Airdrop campaign with an impressive player turnout. https://t.co/MxPRTt0zzW
— Avalanche Gaming 🔺 (@GamingOnAvax) July 19, 2024
ChronosWorlds also announced a partnership with Avalanche, solidifying the platform as their preferred deployment chain for future projects.
Avalanche is the chain for gaming.
Our team recently partnered up with @avax as our preferred deployment chain.
We’re so excited to partner up with this amazing team and are excited about our future plans. pic.twitter.com/myz3BN6ra7
— ChronosWorlds (@ChronosWorlds) July 19, 2024
AVAX continues its upward trend, with an 11% rally in the past week, positioning itself well in the market against bearish pressures.
Challenges for the Bulls at $28.74
The current bullish momentum at $28.74 may face challenges in the near future, requiring strategic decisions from the bulls to maintain or advance from this level. Monitoring market trends and technical indicators will be crucial for navigating potential price fluctuations.
Striking a balance between accumulation and consolidation will be key for the bulls to sustain their position and potentially reach higher price levels.
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Consolidation at $28.74 could serve as a strong support level for future price movements, paving the way for a push towards $32.12 and beyond.
Investors and traders should also keep an eye on upcoming events like the Avalanche Summit LATAM, which could lead to new projects and collaborations in the Avalanche ecosystem.
Featured image from Flickr, chart from TradingView