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A spike in trading volumes in the last two days amid a broad rally across the crypto space has seen AVAX, the cryptocurrency that powers the Avalanche blockchain, surge and near-term price predictions take a turn for the better. Since Wednesday, AVAX/USD has rallied around 20% from under $13 per coin to current levels to the north of $15 per coin.
The rally was also in part powered by the announcement of a new partnership between Avalanche and Amazon. According to a tweet by Avalanche’s official Twitter account, Amazon chose Avalanche “to bring scalable blockchain solutions to enterprises and governments”. The partnership is a big positive for Avalanche’s long-term prospects and should deliver a sizeable boost to the usage of its blockchain.
It’s official! @Amazon #ChoseAvalanche to bring scalable blockchain solutions to enterprises and governments 🔺#AWS fully supports Avalanche’s infrastructure and dApp ecosystem, including one-click node deployment, offering the best tooling for these high compliance use cases. pic.twitter.com/syInSrU9XD
— Avalanche 🔺 (@avax) January 11, 2023
In wake of the recent rally, Avalanche’s on-the-week gains now stand at around 27%, while on-the-month gains are around 40%, with the cryptocurrency having ended 2022 slightly below $11. The latest rally has seen AVAX push to the north of its 50 and 100-Day Moving Averages at $12.50 and $14.12 respectively. AVAX has also been able to break back to the north of the important support-turned-resistance around $14.50.
Price Prediction – Where Next for AVAX?
These resistance areas are not the only important technical barriers that AVAX has hurdled in the last few days. The cryptocurrency has also seemingly broken to the north of a downtrend that had been in play going all the way back to August 2022.
If the break above this downtrend can be confirmed, which appears to be the case on Thursday, AVAX could mount a challenge of its 200DMA at $17.50, as well as a test of its early-November pre-FTX collapse highs in the $20.50 area.
That would mark an impressive furthermore than 30% gain from current levels. Given that the 14-Day Relative Strength Index (RSI) is flashing that AVAX has leapt into overbought territory, the bulls should be patient. If AVAX is to see further gains, a period of consolidation might be needed first.
Altcoins to Consider
Cryptocurrency markets have been performing well since the start of 2023, but the longer-term bear market remains very much still in play. Investors might still want to consider diversifying their holdings with the discounted presale tokens of some promising, up-and-coming crypto projects. Here is a list of a few that analysts at InsideBitcoins think have the potential to perform well.
FightOut (FGHT) – Presale on Now
The young move-to-earn crypto niche has shown a lot of promise, but early success stories like STEPN have significant limitations that have, so far, prevented them from conquering the mainstream. FightOut, which touts itself as the future of move-to-earn, wants to change that in 2023. FightOut is a brand new web3 fitness application and gym chain that rewards its users for working out, completing challenges and competing within a first-of-its-kind fitness metaverse.
While existing M2E applications such as STEPN only track steps and require expensive non-fungible token (NFT) buy-ins to take part, FightOut takes a more holistic approach to tracking and rewarding its users for their exercise and activity, and doesn’t require any expensive buy-ins to take part. FightOut seeks to combine the physical and web3 worlds.
The project aims to eventually acquire gyms across all of the world’s major cities, whilst simultaneously promoting an integrated web3 fitness experience. At the center of FightOut’s digital ecosystem will be its smartphone application which, according to FightOut’s whitepaper, is scheduled for launch in Q2 2023.
The FightOut app will harness smartphone and wearable technology to measure and track physical performance. The app will have its own in-house tokenized economy, where users can earn rewards for completing M2E tasks, and can mint their own soul-bound token avatar, through which the user will be able to interact with the FightOut metaverse.
FGHT is the token that powers the FightOut metaverse ecosystem. Users will pay to enter competitions and leagues with FGHT, and winning will be paid out in FGHT.
FGHT can also be used in peer-to-peer fitness wagers. FightOut’s FGHT tokens are currently selling for 60.06 per 1 USDT, and interested investors are encouraged to move fast to secure their tokens, with the pre-sale having already raised over $2.9 million in just a few weeks. FGHT is the token that will power the FightOut crypto ecosystem.
Calvaria (RIA) – Pre-sale Nearly Over
RIA, the token that will power afterlife fantasy-themed NFT battle card game Calvaria, is also currently in presale. The play-to-earn (P2E) crypto gaming start-up has raised a whopping $2.7 million in just a few months since the launch of its pre-sale. Only around 12% of its tokens remain up for grabs.
Calvaria seeks to bring crypto gaming into the mainstream by tapping into a huge, existing market – the market for physical battle card games (think viral sensations of the past like Pokemon and Yu-Gi-Oh). And with the crypto gaming space expected to grow from $4.6 billion in size in 2022 to $65.7 billion in size by 2027, according to an analysis by Markets and Markets, there is plenty of room for massive growth. Calvaria is set to launch its headline fantasy-themed card game “Duels of Eternity” in Q2 2023.
C+Charge (CCHG) – Presale Now On
The carbon credit industry is projected to be worth $2.4 trillion by 2027. Democratizing access to accrue these benefits is going to massive business in the years ahead and this is something crypto start-up C+Charge hopes to achieve. C+Charge is currently building a blockchain-based Peer-to-Peer (P2P) payment system for EV charging stations that will allow the drivers of electric vehicles (EVs) to earn carbon credits.
C+Charge aims to boost the role of carbon credits as a key incentive for the adoption of EVs. At present, large manufacturers of EVs like Tesla earn millions from selling carbon credits to polluters. C+Charge wants to democratize the carbon credit market by allowing more of these rewards to find themselves in the hands of the EV owners, rather than just the big businesses.
C+Charge has just started its pre-sale of the CCHG token that its platform will use to pay at EV charging stations. Tokens are currently selling for $0.013 each, though by the end of the presale, this will have risen by 80%. Investors interested in getting in early on a promising environmentally friendly cryptocurrency project should move fast, with the project having already raised nearly $260,000 in just a few weeks since the presale launch.
Investors should note that the remaining tokens could be scooped up quickly. A crypto whale recently scooped up over $99 worth of CCHG in one transaction, as can be verified here on BscScan.
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