Gaming giant Konami has chosen Avalanche (AVAX) for its NFT platform, Resella as reported by Zen, a top crypto analyst. Powered by Avalanche’s Subnet and AvaCloud Web3 launchpad service, this collaboration aims to enhance efficiency and offer lower costs for users. This partnership marks a key step for Avalanche in the gaming and blockchain industries.
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Avalanche (AVAX) Price Analysis
From a technical analysis standpoint, AVAX is still within a downtrend, according to Zen. Despite the developing weekly candle suggesting potential for a reversal, there is no confirmed trend change yet. The zone around $21-24 could potentially serve as a bottom, indicating a crucial support level for investors.
Vega, another analyst, shared their investment strategy, highlighting their decision to sell AVAX at $63 and re-enter the market at $28. Currently holding the weekly 50 MA, they identify $20 as a critical support level, aligning with the 2-week 50 MA. This technical setup appears textbook, but may need more time to fully develop.
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Moreover, another figure in the crypto space, Planfomo observed that Avalanche has formed a head and shoulders pattern, with the price breaking its neckline. If this pattern plays out, the next potential target could be around $21-20.
As of the latest price data from CoinGecko, Avalanche’s price is $28.07, with a daily trading volume of $305,090,897.78. This reflects a 2.57% increase in the last day, though it has seen an 11.88% decline over the past week.
The partnership between Konami and Avalanche signifies a major step forward for both companies in the evolving blockchain gaming landscape. While the technical analysis indicates potential price fluctuations, the strategic decisions and patterns observed by analysts suggest a critical period for AVAX.
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