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AVAX Price Soars on AWS Partnership

AVAX's recent partnership with Amazon Web Services (AWS) has led to a positive uptick in the Avalanche (AVAX) market.

Avax logo
Avax logo

AWS will support Avalanche's infrastructure and decentralized apps, which is expected to increase demand for AVAX and boost the cryptocurrency's popularity.

As a result of the partnership, the AVAX price has risen by 22.60% to $15.30, and the market capitalization has surged by 25.96% to $4,907,422,927. The 24-hour trading volume has also jumped by 350.62% to $1,055,828,197.

The bullish trend on the AVAX market has bulls aiming to breach the $16.38 resistance level. However, traders should be aware that the stochastic RSI suggests AVAX is overbought and may reverse. Investors should keep an eye on the market and be ready to react quickly if the bears take over and prices fall.