Avalanche (AVAX) Builds up Steam with Bullish Run

Over the last week, Avalanche (AVAX) has been barreling toward the $40 mark with gain after gain, barely slowing down.

A week ago, the AVA coin was sitting at $29 (AVAX/USD), coming out of a rough bear trend. Now, the #11 ranked coin is at $36.11 and rising. The wind has gone out of its sails for the moment, but the slower momentum today is typical of this latest bull run. The coin shoots up, slows briefly, and then shoots up again. We may only be in this lull for a short period before we see Avalanche continue the bull trend.

Today, Avalanche has only moved 0.25%, which could be a great opportunity for investors to jump on it before it starts to rise again. The coin spent some of December in decline but that was after a long bull run immediately before.

Avalanche’s Incredible Progress

It was just October of last year when the coin was settling around the $9 mark, and it has risen 400% since then in an incredible display. There is no reason to think that Avalanche will not continue to move upward. The $40 mark would be an important psychological milestone for it and may help push the coin on to even greater heights.

This coin has shown up recently on multiple lists of cryptos to watch closely for investment opportunities. A new announcement recently for a Vryx scaling solution from AVA Labs made the coin spike another 10%. As support continues for the coin, we expect it to keep bullish for now. Interest may die down  as investors get skittish about the coin moving much higher, but for now, we consider this a strong coin to consider.

Much of the crypto market is doing very well right now, with appreciable gains reported by Bitcoin and Cardano. It looks like the crypto market is very healthy and active at the moment, which is much appreciated after a late 2023 slump.