Monero, Avalanche poised for increased volatility as bulls dominate crypto markets

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Written on Oct 24, 2023

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Crypto assets painted green charts amid increased positivity in the market.
Monero and Avalanche are among the alts to watch this week.
Analysts remain bullish on cryptocurrency coins.

Bitcoin’s latest move from below $30K to $35K showcases the wild fluctuations that the cryptocurrency world witnesses. Nevertheless, following top trends might not be enough to track the movements of some digital coins.

Meanwhile, identifying projects to watch can be as easy as finding assets experiencing heightened volatility coupled with different price triggers. Let’s explore what Monero (XMR) and Avalanche (AVAX) may have for opportunistic investors ready to ride volatility this week.

Monero

Monero (XMR) changed hands at $158.23 at this publication, gaining 1% over the past day. However, it has sustained a bullish stance over the last seven days, surging 5.62% on its weekly chart. Meanwhile, the upward journey has been with ups and downs.

The privacy token witnessed high trading activity over the past sessions, with unpredictable volatility changes. Nonetheless, the current price surge and notable volatility might offer several entry levels for trades looking for opportunities to execute long positions.

Avalanche

Avalanche (AVAX) is among the top Ethereum rivals. Meanwhile, the digital coin has attracted traders with its recent price movements. Its price swings saw it surging around 20% over the past month. AVAX traded at $10.73 at press time, following a 7.10% 24-hour jump.

Avalanche’s price chart shows the alt might be readying for breakouts in either direction. While it might witness significant ups or downs, John Wu of Ava Labs revealed that the ecosystem has multiple ongoing developments. Further updates will likely rescue AVAX from its sideways actions, welcoming upside price movements.

Crypto market outlook

Bulls continue to dominate the digital assets sector, with the global cryptocurrency market cap gaining around 10% in the past day to $1.27 trillion.

#Bitcoin is currently showing a lot of strength.

The price rallied from $26K to $35K in less than a week. A potential continuation to $40-45K seems likely in the coming 2-4 weeks.

Do you need to FOMO?

No, just buy dips.

They'll come. Take it easy.

— Michaël van de Poppe (@CryptoMichNL) October 24, 2023

Meanwhile, analysts advise enthusiasts to buy dips as they believe the market will extend the current upside, forecasting a $40 – $45K target for Bitcoin in the coming two weeks. That will see altcoins, including Monero and Avalanche, recording impressive price surges in the up-and-coming sessions