After the 60% surge from August 12th, AAVE holders have started to cash in their profits at around $135. On the other hand, Avalanche (AVAX) investors are also taking advantage of the bounce by selling some of their holdings, as another promising coin, DTX, is currently available at an attractive valuation from both fundamental and technical perspectives.
DTX Exchange (DTX) stands out as the first hybrid exchange aiming to revolutionize the exchange industry with blockchain technology and innovative thinking. This unique approach has garnered attention from both seasoned investors and newcomers to the crypto space.
AAVE’s recent breakout from the descending trendline has been met with high volume, indicating strong market interest. Following a shakeout on August 5th, AAVE has been displaying strength, with continuous green candles forming a bullish trend. The coin is currently trading near the high of March, with the potential to reach a new 52-week high. This positive momentum suggests a robust crypto market, paving the way for further highs in the near future.
Based on standard pivot points, the next major resistance levels for AAVE are projected to be around $160 and $190. In case of a retracement, key demand zones for the price are anticipated at $119 and $107. Breaking past the $154 mark could mark the end of nearly three years of consolidation for AAVE, signaling a potential bullish trend ahead.
Meanwhile, Avalanche (AVAX) has recently broken out of a two-week consolidation phase under a box pattern, accompanied by above-average volume. Currently trading at $23.31, AVAX has shown a slight increase from the previous day’s close. The $24-$26 range poses as the overhead resistance zone for the price, which may present a challenge for further upward movement.
Notably, Avalanche (AVAX) is still trading below the 50-period moving average, indicating short-term momentum. Observers will be closely monitoring whether AVAX can sustain its bullish rally after crossing the 50-period MA. A sustained move above this key indicator could potentially signal the start of a significant uptrend for Avalanche.
The ongoing crypto market correction has affected Avalanche (AVAX) and AAVE, leading to a prolonged period of adjustment. Despite this, DTX has managed to maintain its position near its recent high, showcasing resilience amidst market turbulence. Investors and traders who faced losses during the correction phase have begun to recover and are now actively reinvesting in the market.
DTX Exchange is focused on building an inclusive, secure, and technologically advanced financial ecosystem. By incorporating blockchain technology, the platform aims to revolutionize traditional exchange practices. DTX Exchange will offer a wide range of assets, including equities, foreign exchange, contract-for-differences, and cryptocurrencies, bridging the gap between decentralized and centralized exchanges.
With a hybrid trading approach, DTX Exchange sets itself apart by providing access to over 120,000 asset types with up to 1000x leverage. Additionally, the exchange’s no-KYC policy during sign-up appeals to privacy-conscious users. Moreover, DTX Exchange has strategic connections to the $133 trillion bonds market, further enhancing its credibility and potential for growth.
In conclusion, as Avalanche and AAVE bulls accumulate millions of DTX tokens at $0.04 before the anticipated autumn rally, the market dynamics are poised for significant shifts. With AAVE showing strong bullish momentum and Avalanche breaking out of consolidation, investors are eyeing potential opportunities in DTX Exchange as a promising player in the evolving crypto landscape. Joining the DTX community presents a unique chance to be part of an innovative approach to exchange technology and financial ecosystems.