Avalanche (AVAX), with its audacious spirit, has recently shattered a dreary 213-day consolidation phase. One might say, it’s been in a perpetual slumber, dreaming of riches, until it suddenly woke up with a grand plan, much like a character in one of Dostoevsky’s novels, contemplating their fate while awaiting redemption in a world so terribly twisted.
The catalyst? A rather intriguing report from the Financial Times. This, dear reader, hints at the Avalanche Foundation’s latest ambition: a mere $1 billion to purchase millions of AVAX tokens at a deliciously discounted price. If that doesn’t sound like a bit of a fantasy novel, where one might question whether the central character’s fortunes are too good to be true, I don’t know what does.
The first treasury, graciously backed by Hivemind Capital, is out to raise a modest $500 million through a Nasdaq-listed firm, while the ever-popular financier, Anthony Scaramucci, whispers words of wisdom into the ears of the decision-makers. I can almost hear the grand speech he must give-perhaps something akin to Raskolnikov’s feverish ramblings as he contemplates his own moral dilemmas.
Meanwhile, the second treasury, blessed by Dragonfly Capital, mirrors this ambition, though it does so through the intriguing mechanism of a Special Purpose Acquisition Company (SPAC). The whole thing, naturally, reeks of the rapid-fire dealings one might associate with Dostoevsky’s infamous pawnbroker, where money flies with little care for its origin or destination.
Now, one must not be fooled into thinking this is just a casual venture into the crypto world. No, no-this is clearly a move with the subtlety of a Dostoevskian plot twist: a buyback strategy, meant to reduce the circulating supply and, oh, perhaps send the price of AVAX into the stratosphere. The whispers among the community are quick to suggest that AVAX might just be the next cryptocurrency to explode. Oh, how thrilling, and yet how dreadfully predictable!
AVAX Price Reacts, $55 Ahead?
The consequences of this news have been swift and merciless. A 100% surge in 24-hour trading volume has already occurred, bringing the figure to a staggering $1.93 billion. Analysts, ever the hopeful optimists, now speculate that AVAX could rally toward the $50 mark, as the token has already gained a rather impressive 9% on Thursday.
$AVAX just broke out of a 213 Day Consolidation
Nothing but air until $50+
Onchain revenues about to explode, you know what that means
– EllioTrades (@elliotrades) September 10, 2025
Ah, but the mind, as it often does in these moments, must weigh the possibilities. The ever-watchful EllioTrades, in a statement so glib it could only have come from a trader with the confidence of a man who believes in the inevitability of fate, declared that AVAX faces no significant resistance until $55. But is this optimism? Or the crushing weight of delusion, much like Dostoevsky’s characters believing in their salvation while spiraling into madness?
At the time of writing, the 16th largest cryptocurrency sits at $28.70, still 45% below its peak last December. But the RSI, dear reader, is nearing the overbought territory of 70. Yes, the buying pressure is palpable, but can this be sustained, or are we merely observing the initial surge before the inevitable correction? Only time, and perhaps a few existential crises, will tell.
AVAX price chart with RSI and Bollinger Bands | Source: TradingView
Meanwhile, the Bollinger Bands are expanding, much like the widening of a man’s soul as he contemplates his role in the grand, chaotic universe. Should AVAX continue above the upper band at $28.22, it could very well push the price to $35-$40. But, as Dostoevsky might remind us, there is always a darker side. The middle band (the 20-day SMA) sits at $24.99, and should the price fall below it, we might just see AVAX tumble to $22 or lower. A harsh reality, like the somber fates of those who dare to dream too big.
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2025-09-11 11:55