After the 60% run from August 12th, AAVE holders have booked their profit at around $135. Avalanche (AVAX) investors are also selling some of their holdings in the bounce as another coin; DTX is available at a good valuation from fundamental and technical perspectives.
DTX Exchange (DTX) is the first hybrid exchange aiming to revolutionize the exchange industry with blockchain technology and innovative thinking.
AAVE Burst Out With High Volume
AAVE’s breakout from the descending trendline has been successful; after the shakeout of August 5, it has been moving with strength, forming continuous green candles. AAVE is trading near the high of March, and the follow-through from here can take the price to a new 52-week high. This strength in the price indicates a strong crypto market, and we can see a new high formation in the market, too.
According to the standard pivot points, the next two major resistance levels for the AAVE price are $160 and $190. If we retrace back to the downside, $119 and $107 are the major demand zones for the price. If AAVE takes out the $154, this will be the end of nearly three years of consolidation.
Box Breakout In Avalanche (AVAX): Will It Follow Through?
Avalanche (AVAX) has ended its two-week consolidation under the box pattern and broken out with above-average volume. Currently, Avalanche (AVAX) is trading at $23.31, which increased slightly from yesterday’s close. The $24-$26 range is the overhead resistance zone for the price, and it will be difficult for the price to close above it.
The notable point is that the Avalanche (AVAX) is still trading below the 50-period moving average, which is an indicator of short-term momentum. It will be important to watch if Avalanche (AVAX) is starting the bull rally. After crossing the 50-period MA, it needs to sustain above it for bullish momentum to take off.
DTX Exchange Recovering Loss Of Traders In Market Correction
The crypto market correction has been ongoing in Avalanche (AVAX) and AAVE for some time now. It’s been more than five months since the correction reached its recent peak. Despite the correction in other coins, DTX has remained near its high double from last month. Investors and traders who faced loss and invested in the first phase have already recovered from their loss and are heavily pushing money into the second stage.
DTX Exchange aims to build an inclusive, secure, technologically advanced financial ecosystem. This ecosystem will feature various assets, including equities, foreign exchange, contract-for-differences, and especially cryptocurrencies. Essentially, DTX Exchange will combine the best aspects of both decentralized (DEX) and centralized exchanges (CEX), offering a balance between accessibility and security.
With its hybrid trading approach, DTX Exchange gains a competitive edge by offering access to over 120,000 asset types with up to 1000x leverage. Additionally, privacy-conscious users will appreciate the exchange’s no-Know Your Customer (KYC) policy during sign-up.
DTX also has real connections to the $133 trillion bonds market and a lower market cap. These strengths position DTX as a promising new player, capable of growing quickly and sustainably with less need for new capital.
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