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The Avalanche Foundation introduced the much-awaited Avalanche Card today.
At launch, the physical and digital card allows individuals to use AVAX, wrapped AVAX, and USDC and USDT stablecoins to pay at any joint that accepts Visa.
Introducing the Avalanche Card! Use your crypto anywhere Visa is accepted, available both digitally and physically. Adoption is happening, right here on Avalanche 🔺
The news triggered significant surges for AVAX.
While massive liquidations dented Bitcoin’s near-term recovery hopes, Avalanche painted its daily chart green.
Will the prevailing dip-buying by whales support further recoveries for AVAX price?
Avalanche boosts crypto adoption with Visa card
The Avalanche Foundation collaborated with Rain to launch the card to enhance cryptos’ mainstream usage.
Individuals can use the card to pay for transportation, utility bills, online shopping, and groceries with a single swipe.
The blog read:
As many regions face unstable access to mainstream financial tools, the Avalanche Card provides a secure, alternative solution in emerging markets, empowering users to transact without relying on traditional banks.
Ava Labs president John Wu believes the Avalanche Card underscored the firm’s dedication to making crypto an empowerment tool through real-world utilities like swiping credit cards.
The Avalanche crypto card targets the global landscape with initial rollouts in Latin America, Africa, and Southeast Asia.
Moreover, the team plans to integrate more tokens beyond AVAX, WAVAX, USDC, and USDT.
AVAX price outlook
Avalanche is among the tokens to buck trends as Bitcoin starts to underperform altcoins.
The alt trades at $22.18 with notable bull dominance on the daily chart.
Chart by CoinmarketcapThe altcoin maintained the psychological support at $20, and the increasing buying interest indicates adequate upward momentum.
Technical indicators confirm AVAX’s potential buyers’ comeback.
The daily Relative Strength Index’s bullish divergence suggests possible trend reversals for AVAX.
The 4H Moving Average Divergence Convergence highlights a bullish resurgence with an upward crossover with the signal line.
The emerging green histogram bars indicate buyer activities.
Whale accumulation bolsters recoveries
The soaring large transactions after prolonged downsides add to AVAX’s bullish case.
Avalanche’s whale transactions plummeted to 210 per day from 1,520 in the past three months.
Nevertheless, the metric jumped to 490 on 25 February, according to IntotheBlock.
Source – IntoTheBlockThe over 130% increase within a day indicates confidence in Avalanche’s performance in the upcoming times.
Moreover, whale purchases amidst price drops often signal imminent price recoveries.
Stability above the $20 foothold would trigger extended rebounds for AVAX.
Bulls will eye the $32 mark, which would mean an approximately 45% increase from the current price.
Meanwhile, the declined trading volume can mean delayed recoveries.
Selling activity around $20 could trigger bearish breakdowns toward the previous reliable support at $17.28.
Enthusiasts should watch broad market movements as they would likely shape AVAX’s near-term trajectory, considering its 91% correlation with Bitcoin.
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