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Avalanche / AVAX analysis

The price of AVAX is $20.7 today with a 24hour trading volume of 400 million dollars and its 95% up since last month
Avalanche is a layer one blockchain that functions as a platform for decentralized applications and custom blockchain networks. It is one of Ethereum’s rivals, aiming to unseat ethereum as the most popular blockchain for smart contracts. It aims to do so by having a higher transaction output of up to 6,500 transactions per second while not compromising scalability.
Avalanche’s bridge has performed over $60B in transfer recently a key factor in its rapidly growing DeFi ecosystem but now lets look at the price and chart
breaking 12 resistance and down-trend was a great opportunity for scalpers to long and make some quick buck. as you see 21-22 is the next resistance and after hitting 21 we had some correction
like most asset classes the market waiting for Federal Reserve's first meeting and rate decision of 2023 so be ready for some volatility in crypto. for long term Im bullish on avax
avax next targets are 23, 25 and 27

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