Avalanche (AVAX) price is likely to continue to move sideways due to the lack of significant growth incentives. However, Sentiment among AVAX holders is also gradually turning bearish as short-term investors dominate the supply. On the other hand, a fresh memecoin on the scene, WienerAI, is achieving remarkable triumphs with its early-bird presale.
Investors are Getting Ready to Sell Avalanche
Avalanche’s price could soon feel the impact of investor behavior, with supply dominated by short-term holders, who are known to hold their holdings for one month or less. In the case of AVAX, they hold almost 28% of the total circulating supply, or 107 million tokens.
Additionally, the altcoin risks facing significant resistance at $38. According to the Global In/Out of the Money (GIOM) indicator, approximately 12.47 million coins were purchased at this price. If holders decide to exit their positions, the upward momentum may fizzle out.
Avalanche (AVAX) Price Forecast: Consolidation Ahead
Avalanche’s price has risen more than 15% over the past few days. At the time of writing AVAX price is trading at $36.5, meanwhile, the $31 mark became the lower limit of the consolidation range in which the altcoin has been for a month. The upper limit is located at $39.
Over the past month, AVAX tried to break out of consolidation three times, but failed each time. This will continue until the 50-day exponential moving average (EMA) crosses the 200-day EMA. However, the bearish thesis could be refuted if investors decide to hold or accumulate tokens. In this case, Avalanche will break out of the range, potentially confirming $39 as support.
WienerAI Presale Rockets Past 2.3 Million Benchmark
The pre-launch phase of WienerAI memecoin, preceding its official debut, has attracted substantial interest from initial adopters and investors keen to jump in at the ground level of what promises to be a groundbreaking addition to the cryptocurrency ecosystem. Additionally, exceeding the 2.3 million mark during the presale signifies not just the fervor surrounding the project but also the burgeoning desire for creative and unorthodox digital assets. Furthermore, WienerAI, a project that merges predictive technology with an intuitive AI interface to empower cryptocurrency traders, has surpassed the 2.3 million mark in its presale.
About WienerAI Presale Progress
WienerAI’s technology empowers users to swiftly scour the crypto market for promising prospects. Users can consult WienerAI to identify their next trade, and the platform furnishes market analysis to assist them in making well-informed choices. Additionally, WienerAI facilitates effortless and MEV-free swaps via decentralized exchanges.
The project utilizes $WAI, an ERC20 token on the Ethereum Blockchain, as its primary token. $WAI fuels the WienerAI trading bot. WienerAI underscores the immense potential of AI in the financial sector, stressing that current functionalities are merely a peek at what the future holds. Moreover, the project emphasizes Wiener’s limitless upgradability and its adaptable technological design, guaranteeing WienerAI stays at the forefront of AI advancements in the trading domain.
