Avalanche Partners With Amazon, What’s Next For The Price?
11 Janeiro 2023 - 05:15PM
Avalanche and its dApp ecosystem shall now be supported by Amazon
Web Services (AWS), which also comprises one-click node deployment
through the AWS marketplace. With this partnership with AWS, Ava
Labs can help customers deploy custom offerings linked to over
100,000 partners spread across 150 countries. Related Reading:
Bitcoin Currently More Stable Than Gold, DXY, Nasdaq, Here’s What
Could Happen Next Technically, the Avalanche node operators can
operate in AWS GovCloud for the FedRAMP compliance use case, which
is an essential pre-requisite for many enterprises and governments.
This partnership will help scale blockchain adoption among many
enterprises, government organizations, and other institutions.
Howard Wright, the VP and Global Head of startups at AWS, stated:
Looking forward, web3 and blockchain are inevitable. No one can
call the time or date or quarter that it’s going to happen and
it’ll be mainstream, but we’ve seen the cycles of growth before.
The velocity of this one seems like it’s accelerating and we’re
just excited to be a part of this. Through the partnership,
individuals will find it much easier to launch and manage nodes on
Avalanche; additionally, it will strengthen and make the network
more flexible for developers to work on. This new development has
positively affected the altcoin’s price, but it is yet to be seen
if the coin can sustain this price sentiment. Avalanche Technical
Analysis The news of AWS being incorporated into the Avalanche
ecosystem has instantly spiked investor interest. The daily chart
of AVAX displays a 6.6% gain, which can be termed a rally. This has
made the coin break past the $13.60 resistance level, and now AVAX
is valued at $14.40. It is yet to be seen if the coin manages to
breach the $15 mark, acting as a resistance mark for the coin. A
fall from the current price will bring the altcoin down to $13.70.
The Relative Strength Index was overbought, which means the asset
was overvalued. The overvalued condition can be attributed to the
newest development. Usually, once the asset is overbought, the
price corrects itself. Due to bullish sentiment, AVAX shot past the
20-Simple Moving Average line (SMA), indicating that buyers have
been driving the price momentum in the market. Not just the 20-SMA,
the altcoin was parked above the 50-SMA due to excessive demand.
The Moving Average Convergence Divergence suggests price momentum
and a trend reversal. The indicator formed a few green histograms,
which are buy signals for the coin. The most recent histogram
increased in size, anticipating the rise in the price of the asset.
Investors could quickly take this as a signal for entry as the
price would increase over the next few trading sessions before it
started to retrace. Related Reading: Polkadot Records New
Achievements In Dev’t Activity, Pushes DOT Price Up The Directional
Movement Index reads the price direction, and it was bullish. The
+DI line (blue) was above the -DI line (orange). The Average
Directional Index (red) was near 20 with a slight uptick,
confirming that although the price witnessed a northbound movement,
the price direction lacks substantial strength. Featured Image From
Unsplash, Charts From TradingView.com
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