Explosive Potential for AVAX!

Avalanche (AVAX) has sparked a wave of optimism, recently breaking out of an 8-month supply zone while forging significant partnerships in the crypto landscape.

The Road to $100: Is It Possible?

Despite a staggering 94% drop from its all-time highs during the bear market, ambitious predictions suggest $100 could be within reach for AVAX. While many altcoins suffered steep declines, some have managed remarkable recoveries, offering hope.

As of now, AVAX was trading at $34.13, following an impressive September that saw it break the previous $27 resistance level, climbing 46.8% in just weeks.

Strategic Partnerships Boost Visibility

One of the pivotal developments for Avalanche is its selection by FIFA for blockchain development, leveraging its high throughput and low latency. This visibility could be a game-changer for AVAX.

Other key partnerships with companies like Quboid and Stripe further bolster Avalanche’s market position.

ETF Approval: A Positive Shift for AVAX

On September 17, the U.S. SEC approved new 'accelerated basis' listing standards for crypto exchange-traded funds (ETFs), creating a favorable landscape for numerous impending crypto ETFs.

Innovative Treasury Strategies

According to reports, the Avalanche Foundation is pursuing dual projects to establish digital asset treasury companies, eyeing a combined raise of approximately $1 billion. One deal aims for $500 million in private investments, with Nasdaq-listed Hivemind at the forefront.

Additionally, Dragonfly Capital is orchestrating a SPAC deal meant to purchase millions of AVAX, with tokens being offered at a discounted rate.

Technical Analysis: Surging Ahead!

AVAX's recent rally to an 8-month high highlights increased investor interest and network activity. The asset has broken past the crucial $27 supply zone, reflecting a 38.15% upward movement over the last two weeks.

Presently, the $35 level serves as a robust resistance, with further targets set at $45 and $55.

Bullish Momentum Indicators

Recent trading data indicates a rise in the On-Balance Volume (OBV), showcasing steady buying patterns, while the Relative Strength Index (RSI) suggests strong bullish momentum.

With these positive developments and technical indicators, AVAX is poised for an explosive uptrend that could see it hit the coveted $100 mark this cycle!