The bull rally in the crypto market is in full swing, with Bitcoin making new highs. Avalanche (AVAX) has been in consolidation after creating a swing high of $37.67. The major target for AVAX is $50; the next leg will decide whether it will achieve it.
Meanwhile, Cutoshi (CUTO) has been trending worldwide in X (formerly Twitter) for two weeks in a row. The growing demand for CUTO is due to its unique infrastructure and huge growth potential. At the same time, of all the blue-chip cryptocurrencies, Binance (BNB) has been unable to perform in the first leg.
Avalanche (AVAX) Trades Near High Eyes Breakout
Avalanche’s (AVAX) price dipped during intraday trading but gained positive momentum, signaling a potential rise. The short-term trend remains upward, supported by its position above the 50-day SMA and encouraging RSI signals, which indicate reduced overbought conditions. Additionally, the MACD shows a steady rise in its green histogram, reinforcing a positive outlook for the altcoin.
Since reaching its yearly high in March, Avalanche’s price has dropped significantly, hitting a low of $70. However, positive developments have driven the AVAX price to form higher lows in August and accelerate growth in November. It continues to climb steadily, recently breaking through a key horizontal resistance area as it moves closer to its yearly high.
Binance (BNB) Scumbs By Bear Force
Binance Coin (BNB) is holding steady above $600, trading around $620. The reduction in its volatility, nevertheless, seems to limit the subsequent increase of prices. The price of BNB is gradually moving towards the 50-day moving average since its volatility has not been at a high rate. This low volatility might play a role in the market not having the power for a big price change, which will hinder the price from breaking above $660.
However, that being said, there is a growing pulse of excitement as BNB is getting closer to hitting a resistance point. While it is clear that Binance requires momentum, the start of the leg will possibly begin with a breakout. The likely scenario of such an event happening would be an increased BNB value of as much as $700, which would be caused by a stronger market and more vital investor confidence.
Cutoshi (CUTO) Presale Breaks $1 Million Amid Whale Investment
Cutoshi (CUTO) has reached a significant milestone, surpassing $1,000,000 in its presale funding over $150k the past week. Investors are flocking to CUTO, which has become the top trending coin in X worldwide.
Cutoshi takes its influence from the Lucky Cat folklore. This lucky cat is a symbol of good fortune, which is believed to help businesses become prosperous and wealthy. Cutoshi, who observed the original traits of the lucky cat, is a true representation of good fortune that has a unique reward system.
The Cutoshi project is developing a custom DEX for on-chain growth through hybrid protocol use. This way, people can trade, store and stake cryptocurrencies across different blockchains with the payment of a mere 0.25% fee. In such a manner, Cutoshi is expected to get a piece of the global DeFi market, which is worth billions of dollars by now, thus capturing a very good part of it.
Cutoshi also stands out with its community-based farming protocol, where users earn token rewards by completing quests and challenges and participating in project events. This approach creates an engaging and interactive experience. Additionally, its merchandise and NFTs add vibrancy to the growing community.
The token’s deflationary mechanism enhances its appeal by creating scarcity within the CUTO ecosystem. This scarcity boosts demand and positions the token for potential long-term value growth. Currently, the CUTO token is in its third presale stage with a price of $0.0259.
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