BTC closed above 28,143 and 28,300. What does this mean? Mumu believes that investors will make further profits. And this will have a certain impact on ETH and AVAX!

It can be seen that the current real-time price of ETH is 1632.5700, the total market value is ¥1.43 trillion, the historical highest is ¥ 35483.0200 (2021-11-11), the king of altcoins is trading at $1,632, and the price of BTC is about 27,9305. Cryptocurrencies are facing unprecedented pressure due to war, high inflation, economic crisis, bank failures, and the fastest Fed rate hike in history. However, even if the market is low, Mumu believes that the price of ETH will not close below $1,000 in the long run.

ETH price continues to potentially recover close to the 50-day exponential moving average (50-EMA) around $1,665. If a downside breakout forms from the ascending triangle on the chart, we could see prices drop to $1,465 and $1,560 by October 2023.

Avalanche (AVAX) Analysis

As BTC prices start to strengthen, this is good news for AVAX. Avalanche on-chain metrics have started to recover due to the launch of Stars Arena last week. In addition, the demand for cryptocurrencies is also increasing. But the platform was launched without completing a code audit and has many vulnerabilities.

There were too many reports of attacks occurring within ten days. Currently, this problem has been resolved and Mumu believes that the price of AVAX will continue to rise.

Using the relative strength index (RSI), moving weighted average (MWA), Williams fractal and moving average convergence divergence (MACD) in the chart below, Mumu can speculate on the price pattern of Avalanche (AVAX).

As of now when Mumu writes this article, AVAX is at 9.93. If it breaks through the 10.8 level in the near future, the price increase will gain momentum. The price will rise to 12-16

If you have any questions about Yitai and AVAX, or other currencies, you can ask me directly. Mu Mu will reply when he sees the message. As long as it is something I know, Mu Mu will tell me everything.

In the crypto industry, if you want to seize the next bull market opportunity, you need to have a high-quality circle so that everyone can keep each other warm and maintain insight. If you are alone, looking around and finding no one, it is actually very difficult to persist in this industry.