Before the upcoming US PCE data, Bitcoin (BTC) price has climbed back to $41,500, regaining key support. Optimism was bolstered by increased spot demand and strengthened liquidity around the $40,000 region. The swift reclaiming of the $40,400 support has also raised hopes for altcoins.
Avalanche (AVAX) cryptocurrency, native to a popular smart contract platform, continues the day with a 6% increase at $31.75. The cumulative trading volume of cryptocurrencies has risen above $50 billion, marking a 6.1% increase, while the total market cap struggles to reclaim the $1.61 trillion support.
Technically, AVAX price has re-entered the channel after reclaiming the $31.5 support, with potential to rise to $36.6 and $41.5 if it remains strong. BTC’s rise is not yet halted by major sell-offs, and upward momentum may continue if Grayscale Bitcoin Trust (GBTC) sales weaken and volumes increase. The short-term ultimate goal for AVAX remains $50.
CHZ Coin has maintained its positive divergence, holding above $0.1. The initial target was to close above $0.113, and at the time of writing, the price is above this level. If $0.11 is sustained, CHZ Coin investors could see new highs at $0.125 and $0.141.
SOL Coin looks promising as it heads towards the weekly close, potentially making a strong finish if BTC closes well. For continued rapid ascent, SOL must reclaim the $100-101 threshold. If SOL surpasses $101, it could refocus on targets at $111 and $126, regaining the uptrend support from December.