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AVAX’s Path to $100: Bullish Indicators Flash Green

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Avalanche’s token AVAX is primed for a significant rally, potentially surging above $100. The charts depicted below are indicative of the bullish momentum buildup around the token, highlighting a positive outlook for investors and traders. In the first graph, a monthly view of AVAX/USDT on Binance is shown where key price levels and wave patterns are formed.

At present, AVAX is trading at $36 with a resistance level of $97.64. However, the token support zone between $9.49 and $10.06 depicts a substantial strong base from which the price could bounce higher. Further, a look at the graph suggests that the token has recently overcome a corrective phase and is gearing toward a new bullish path.

AVAX
AVAX's Path to $100: Bullish Indicators Flash Green 3

Confirming the bullish thesis is the token’s price analysis on the daily timeframe. The second chart depicts the pattern of a classic triple bottom hovering near the $30 mark. Along with that, the higher highs [HH] and higher lows [HL], shown in the graph, signal a strong reversal and the beginning of an uptrend. The immediate key resistance levels that investors should watch out for are $50 and $60. Overcoming these will set the token on an optimistic long-term target of $100.

AVAX
AVAX's Path to $100: Bullish Indicators Flash Green 4

As always, investors should conduct their research and consider market conditions before making any investment decisions. This comes at a time as AVAX developers prepare to launch Layer 1 blockchains [L1s] that inherit Avalanche consensus. Moreover, CEO Emin Gun Sirer also spilled details on Initial Chain Offering [ICO], a novel approach where instead of individual tokens, new blockchains are offered to investors.

AVAX: New L1 Blockchains and ICO Plans

Spent the last few days with #Avalanche devs and community and it really is as simple as the infra being built will make it so launching L1s that inherit Avalanche consensus will be as easy as launching an ERC-20. There will be an Initial Chain Offering instead of an Initial Coin Offering szn sooner than you think. An Avalanche ICO szn if you will

Market observers believe this could spark an “Avalanche ICO season,” similar to the Initial Coin Offering frenzy, but focused on entire blockchains. All these announcements could significantly attract interest and investment into the Avalanche ecosystem, boosting the price of AVAX.

Avalanche Founder’s Surge of Warnings: Crypto Fraud Alert

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Avalanche Founder Emin Gun Sirer recently took to his platform on ‘X’ to sound a clarion call against a particularly dangerous trend: the proliferation of fraudulent tokens disguised under the guise of innovation. In the fast-paced world of cryptocurrencies, innovation often walks hand in hand with risk. However, not all risks are created equal, and some pose a more insidious threat than others.

Avalanche founder’s words strike a chord in an industry rife with buzzwords and technical jargon. He warns against projects that prioritize inventing new terminology over delivering real value to investors. Specifically, he singles out projects that attempt to co-opt concepts from unrelated fields, such as the humanities, to lend an air of legitimacy to their endeavors.

One such concept he critiques is “Effective Altruism,” which was purportedly used to justify fraudulent activities by certain individuals within the crypto space. Sirer’s condemnation is sharp, highlighting how even well-intentioned ideologies can be twisted to serve nefarious ends.

Moreover, the Avalanche founder sheds light on the concept of “weak subjectivity,” a misleading notion employed to obscure the true nature of many non-transferrable tokens. These tokens, often touted as revolutionary innovations, may ultimately fail to deliver on their promises, leaving investors high and dry.

Avalanche of Ideological Integration in Tech

Sirer’s stance underscores a growing trend within the tech community: the integration of diverse ideologies into technological advancements. While this can foster innovation, it also opens the door to exploitation and deception.

Rather than engaging in such deceptive practices, Avalanche founder advocates for honesty and transparency in the development of new blockchain platforms. He stresses the importance of building projects that can stand the test of time and offer real value to users, rather than mere empty promises.

Combatting fraud in the crypto space is paramount, and Sirer is not alone in his efforts. Industry leaders like Charles Hoskinson and Brad Garlingouse have also fallen victim to scams, perpetrated through the use of deepfake technology. To counteract these threats, education and awareness campaigns are essential.

Emin Gun Sirer’s admonition serves as a timely reminder of the dangers lurking within the crypto landscape. As the industry continues to evolve, vigilance and integrity must remain paramount. By staying informed and discerning, investors can navigate the treacherous terrain of cryptocurrencies with greater confidence and security.