Avalanche (AVAX) has been taking off the past couple of weeks after the company announced a deal with Amazon on January 11. As of writing, the price of AVAX has risen to $17.44, up 1.5% from its previous daily close. Is it possible Avalache’s price could continue to 10x from here or is its momentum stalling?
The overall cryptocurrency market has also been showing positive signs, of course, with major cryptocurrencies such as Bitcoin and Ethereum experiencing rallies as well. AVAX seems to be following this trend and it may be worth keeping an eye on the coin for potential gains given its bullish fundamentals.
Specifically, on January 11 Ava Labs, the organization behind the development of Avalanche and its AVAX token, announced Amazon would be tapping their solution to “bring scalable blockchain solutions to enterprises and governments.”
This immediately caused the price of AVAX to skyrocket 40% since then. Besides keeping an eye out for further announcements like this, as well as taking into consideration wider macroeconomic factors, we can also look at technical indicators to get a sense of where Avalanche’s price may head next.
Avalanche (AVAX) Price Technical Analysis and Price Prediction
Currently, the 20-day EMA for AVAX is at $15.73, the 50-day EMA is at $14.41, and the 100-day EMA is at $15.09. With Avalanche’s price trading above the short to long-term EMAs, this suggests that the bias for the cryptocurrency is still bullish for the immediate future. The next target is for the price to break out from the 200-day EMA at $20.46.
one of my longest hodl’s is #AVAX
amazon's AWS partners with avalanche $AVAX to scale blockchain adoption
partnership with andretti formula E
new avalanche ledger app
more than 150 projects built on the platform
— (@SatoshiChick) January 23, 2023
The relative strength index (RSI) has dropped from 70.88 to 70.68, placing the cryptocurrency in an overbought state and suggesting that additional price consolidation around these levels may be occurring.
Additionally, the MACD histogram value decreased slightly from 0.22 to 0.20; although this indicates a waning bullish momentum, it still stays firmly within the positive trend range overall.
The volume of trade is 2.109M, which is lower than the volume moving average of 3.852M. This suggests that the buying pressure is currently lower than average.
The immediate resistance levels for Avalanche’s price are expected to be between $19.61 and $19.75. The immediate potential support levels are between $16.70 and $16.87. The next significant support level is between $15.61 and $15.75.
Overall, the technical indicators suggest that Avalanche is currently in a bullish trend, but a price correction may occur in the short term. Traders should monitor the RSI, MACD, volume indicators, and price action closely to determine the next potential price movement.
Exploring the Cryptocurrency Market: Coins to Consider Alongside Avalanche
While Avalanche (AVAX) may be a strong investment option, there are other coins on the market worth considering that may offer higher returns. Diversifying your portfolio and researching different options can help you make an informed decision about some of the best upcoming projects. A few noteworthy coins worth looking into are MEMAG, FGHT, RIA, and TAMA.
Meta Masters Guild (MEMAG): An Alternative to Avalanche (AVAX)
One of the top alternative investments to Avalanche right now is MEMAG from Meta Masters Guild (MMG), a revolutionary Web3 gaming guild that is looking to change the future of gaming with its high level of engagement and ownership for gamers. The mission of MMG is to create a sustained universe for gamers all over the world which encourages participation as well as entertainment while tackling existing issues in modern-day gaming.
The MMG Ecosystem has been designed to lavish gamers with rewards of MEMAG cryptocurrency and in-game assets for the contributions to the ecosystem. On top of that, players can use the Gems reward system to exchange their collected virtual items or currency for real money inside the game world – offering an unparalleled level of freedom when it comes to trading within video games.
IMPORTANT ANNOUNCEMENT #MEMAGFAM
Stage 2 of the $MEMAG presale is officially SOLD OUT!
Thank you to our amazing community for your support! ️
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— Meta Masters Guild (@MEMAGgames) January 23, 2023
The MMG team is dedicated to creating a fair and open atmosphere for all players while allowing them to input into the ecosystem. Their debut title Meta Kart Racers was designed especially for mobile devices for PVP or single-player racing. They’re adding more interesting games that make use of blockchain technology into their ecosystem as well as time goes on.
Investors have taken to MEMAG’s token presale, with an astonishing $1.27 million raised in mere days.
Fight Out (FGHT): Potential Gains Beyond Avalanche Price
Fight Out, an upcoming state-of-the art app and gym chain incorporating blockchain technology, will be offering us an inventive approach to stay fit in the coming year. The M2E (Move-to Earn) app developed by an impressive team vetted by CoinSniper, will have the support of professional fitness experts to deliver tailored exercise plans to users, plus REPS tokens when fitness goals are successfully achieved.
Another HUGE milestone #FightOutCrew!
We have raised over $3.2M in our presale!
⏰ Less than 24 hours left until stage 1 ends! ⏰
— Fight Out (@FightOut_) January 22, 2023
Fight Out is looking to enter the fitness space to be a top fitness brand by building innovative Web3 connected high tech gyms in prime places throughout the world. With inventive technology such as “mirrors” that show members’ profiles and sensors providing instantaneous feedback on exercises, they intend to make exercising more fun and interactive. Amanda Ribas, Taila Santos from the UFC are among the acclaimed athletes included in their ambassador program already.
With a powerful team and major investor backing, Fight Out is poised for incredible success in the coming years. As an added incentive to buyers, those who invest over $50,000 during their presale period can receive bonuses of up to 50%. So far Fight Out has managed to raise more than $3.38 million–with this momentum continuing at full pace.
Calvaria (RIA): A Web3 Gaming Alternative to Avalanche
For investors looking to get into the Web3 gaming scene as an alternative to Avalanche, RIA is a great choice for a token to look into. Strategy minded gamers will be right at home in Calvaria, an upcoming NFT-based battle card strategy game. Players will build decks of character cards and devise tactics to outwit rivals within an immersive, 3D afterlife-themed world.
Fans of Gods Unchained, Splinterlands, and other battle card games will want to check out Calvaria: Duels of Eternity. Not only does it include all their expected features with a few delightful additions—its 3D graphics will allow players to enter more immersive battles on iOS or Android devices. Playing solo will also be possible with its intriguing story mode as well.
— Calvaria: Last Stage Presale is Live! ✨ (@CalvariaP2E) January 17, 2023
Victorious fighters in Calvaria will be generously rewarded with eRIA tokens that can be used to buy powerful cards from the game’s peer-to-peer marketplace. This expansive selection of cards allows players to tailor their strategies and switch out weaker characters for better ones.
To entice more individuals into the world of Web3 gaming, everyone who joins the free-to-play version will receive a starter deck and be able to witness how much eRIA currency they would have earned playing in Play-to-Earn mode.
On the brink of presale’s close, Calvaria has already raised an impressive $2.96 million from investors for its game token.
Tamadoge (TAMA) Lower Cap Gem Avalanche Alternative
Tamadoge’s Web3 gaming platform provides an interesting arcade-style play-to-earn experience –allowing players to earn rewards in the tamaverse. Tamadoge’s TAMA cryptocurrency has been rapidly climbing in popularity and is currently available on OKX, LBank, MEXC, BKEX, and Coinsbit platforms.
The TAMA meme coin offers a real purpose for NFT collectibles, which improve in-game stats on various arcade games.
As the crypto markets gear up for their next rally, Tamadoge’s upcoming games and features are expected to drive an even higher price of its TAMA token. As a testament to that potential, the presale for TAMA in 2022 achieved remarkable success by raising $19 million within just two months.
Meta Masters Guild - Next Big Crypto Game
- Backed by Leading Game Studios
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