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Avalanche (AVAX) has been on a rough ride lately, facing persistent bearish pressure that has driven its price lower. Once a strong performer in the altcoin space, AVAX price has struggled to regain its momentum after a series of declines. Investors are now questioning whether the current price action signals a potential reversal or if further downside is on the horizon. With the price hovering around $18.70, traders are closely watching key support and resistance levels. The technical indicators, including the RSI, MACD, and candlestick formations, provide valuable insights into what might come next for AVAX price . Is this a prime buying opportunity, or should investors brace for more losses? Let’s dive into the analysis. Avalanche (AVAX) has been on a prolonged downward trend , with its price struggling to find solid support. The latest daily chart indicates that AVAX is hovering near the $18.70 level after a significant sell-off. The price action suggests bearish dominance, but is there a chance of a rebound? One key observation is the candlestick formation on the Heikin Ashi chart. The red candles have been persistent, signaling a continuation of the bearish momentum. However, the appearance of small-bodied candles with wicks suggests potential indecision among traders, which could be an early sign of a reversal attempt. The Relative Strength Index (RSI) is currently at 35.77, hovering near the oversold zone but not yet confirming a complete reversal. Generally, RSI below 30 is considered oversold, which often triggers buying interest. While AVAX is approaching this level, it hasn’t fully reached an extreme low that would typically indicate a strong buying opportunity. Additionally, the RSI moving below the signal line confirms that momentum is still weak. A decisive push above 40 on the RSI could strengthen the bullish argument, but as of now, the bearish sentiment remains dominant. The MACD (Moving Average Convergence Divergence) indicator is another crucial tool in analyzing AVAX’s price trend. The MACD histogram is slightly improving, but it remains below the zero line, which confirms that bearish pressure is still present. The MACD line is at -2.12, barely attempting to cross above the signal line (-2.11). A bullish crossover of these lines would be a strong reversal signal, but until that happens, the possibility of further downside remains on the table. AVAX is currently testing an important support zone around $18.50-$18.70. If this level holds, there is a chance for a relief bounce, potentially pushing the price toward $20.50-$21.00, where the next resistance lies. On the downside, if sellers break below $18.50, AVAX could slide further towards $16.80, which is the next major support level based on historical price action. A break below this could trigger further panic selling. The current indicators suggest that AVAX is still in a bearish phase, but some signs of potential stabilization are emerging. If AVAX holds above $18.50 and buyers step in, we could see a short-term recovery. However, for a strong bullish reversal, the price must reclaim $21.00 and sustain above it. On the other hand, if selling pressure continues and the price fails to hold the $18.50 support, further declines towards $16.80 or even $15.00 could be expected.

GameStop CEO Ryan Cohen met with Michael Saylor of Saylor’s Strategy (formerly MicroStrategy) to discuss using Bitcoin as a treasury asset, as the company sits on a $4.6 billion cash reserve. That $4.6 billion cash reserve, built from shareholder reduction and a belief in Cohen’s ability to turn the company around, is a wasting asset. It’s declining in real value each year thanks to inflation. The rise of Bitcoin as a corporate treasury asset has been spearheaded by Saylor’s Strategy (formerly MicroStrategy), a software firm that turned its balance sheet into a Bitcoin-heavy one. Related: GameStop Shares Skyrocket Amid Renewed Retail Investor Fervor The firm, led by Michael Saylor, has made billions of dollars worth of Bitcoin purchases, with its stock experiencing volatility. This approach has inspired others, including companies like Metaplanet, which recorded an increase of 3,000% in stock value by adopting Bitcoin as a major asset. GameStop dabbled in digital assets, launching a crypto wallet in 2022 to enable users to manage crypto and NFTs. However, the company shut down this service in 2023 due to “regulatory uncertainty.” Despite this setback, the recent meeting between Ryan Cohen and Michael Saylor raises questions about whether the company will explore digital assets again as part of its strategy. In 2023, GameStop’s board approved a new investment policy that allows Cohen and other board members to manage the company’s securities portfolio. This gives them the green light to invest in Bitcoin or other digital assets, provided they align with the board’s guidelines. Related: Michael Saylor: Bitcoin Reserve Could Generate $10T Annually for the US Economy The timing for GameStop to enter the Bitcoin space could be perfect. With Bitcoin becoming more widely accepted as a corporate treasury asset and new accounting rules making it easier for companies to hold Bitcoin on their balance sheets, Bitcoin could significantly change GameStop’s financial trajectory – and its stock price. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

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Ripple's XRP is making significant strides in the crypto market, securing regulatory approval in the UAE and attracting institutional interest with a spot ETF filing by Franklin Templeton . These strategic developments mark a turning point for XRP , enhancing its global presence and investment appeal. Ripple has received official approval from the Dubai Financial Services Authority (DFSA) to provide regulated crypto payment services within the Dubai International Financial Centre (DIFC). This makes Ripple the first blockchain-enabled payment provider licensed by the DFSA, reinforcing its role in advancing crypto adoption in the region. This regulatory milestone enables Ripple to offer its global blockchain-based payment solutions across the UAE. By addressing inefficiencies in traditional cross-border transactions—such as high fees, prolonged settlement times, and limited transparency—Ripple is set to enhance its presence in the Middle East. Notably, the region already accounts for 20% of Ripple's global customer base. Brad Garlinghouse, Ripple’s CEO, emphasized that the UAE's forward-thinking approach to tech and crypto innovation positions it to benefit significantly from the evolving crypto landscape. This approval adds to Ripple's extensive list of regulatory achievements, including licenses from the Monetary Authority of Singapore, the New York Department of Financial Services, and the Central Bank of Ireland. In a parallel strategic move, Franklin Templeton, managing $1.5 trillion in assets, has filed for a spot XRP Exchange-Traded Fund (ETF) with the U.S. Securities and Exchange Commission (SEC) . The ETF, if approved, will be listed on the Cboe BZX Exchange, providing investors direct exposure to XRP by tracking its spot price. Coinbase Custody Trust Company, LLC, is set to act as the custodian for the fund’s XRP holdings, ensuring security and compliance. This ETF structure will enable institutional and retail investors to gain exposure to XRP without the complexities of directly purchasing and storing the cryptocurrency. Franklin Templeton's entry into the XRP ETF space aligns with the growing trend of traditional financial institutions expanding their crypto investment products. This move is complemented by similar ETF filings from industry leaders like Bitwise, 21Shares, Grayscale, and WisdomTree, signifying an increasing institutional interest in XRP and other altcoins. While the SEC's review process can extend up to 240 days, the increasing number of ETF filings reflects the shifting dynamics of crypto investments and the expanding interest in XRP as a mainstream digital asset.

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