The Avalanche (AVAX) was the biggest gainer on Saturday, with a gain of nearly 17%. The AVAX token had a fantastic week, with a gain of nearly 25%. The fact that the coin managed to stay above the $80 barrier level is noteworthy.
The coin has crossed the $80 level and is on the verge of testing the $100 milestone. At the moment, paying great attention to the daily closure is essential. If bulls can get the rate back to $90, the crucial $100 mark will be reached in the upcoming sessions.
Avalanche has been consolidating for about three months, confined within a price range of $83 to $66. Despite the substantial bullish price movement, Avalanche continues to trade below a key resistance level. At the time of writing AVAX is trading at $88 and has gained more than one percent.
Will AVAX hit $170 Soon?
AVAX appears to be bullish, according to data analyst and currency trader Ouzhan Engör, and is attempting to start an upward rise. He believes that claiming the $89 level is critical to reaching the $110 target. He also stated that his long-term aim of $170 for the coin is still relevant.
AVAX ecosystem is blooming
AVAX’s founder and CEO, Emin Gün Sirer, posted a thread regarding the L1 protocol’s (AVAX) role in the company’s exponential growth. In a Twitter discussion, the founder of Avalanche explained why the price of avalanche will soar. The post highlights Ethereum (ETH) as the most popular L1, although it has a number of flaws, including scalability and expensive gas prices. It also claims that AVAX is extremely useful because it is lightning fast, inexpensive, and scalable thanks to its subnet technology. As a result, numerous new developers have joined the AVAX development team.