Avalanche (AVAX) has managed to shine bright amidst the overall decline in the cryptocurrency market, experiencing an impressive 8% surge. This rise can be attributed to the token’s partnership with Stripe, a renowned online payment processing platform, which presents promising opportunities for growth.
Thanks to Stripe’s integration of USDC prior to its collaboration with Avalanche, Core has been able to seamlessly connect with Stripe, enabling users to access AVAX tokens, decentralized applications (dApps), and non-fungible tokens (NFTs) within Avalanche’s ecosystem. As a result of this integration, Avalanche’s price has climbed from $33.06 to $35.78. However, it is important to note that AVAX is still down by more than 45% from its peak of $60.69 in 2024.
As of now, Avalanche is currently trading at $33.20, with a market capitalization of $12.58 billion. The increase in price is accompanied by a significant 88% surge in 24-hour trading volume, amounting to $527 million, indicating a heightened interest from investors.
If the upward trend continues and AVAX manages to surpass the resistance level at $36, the token could potentially target price levels of $40 and $45. Furthermore, technical analysis suggests a bullish sentiment, fueling speculation that AVAX might even breach the $50 mark.
However, it is crucial for AVAX to maintain support at $30 in order to avoid triggering a retracement. Failure to do so could potentially lead to a dip towards the $25 region in a bearish scenario.
