- AVAX is rising, gaining more than 25% in a 24-hour period on its latest rally.
- The spike is related to Avalanche’s latest collaboration with Amazon AWS.
Although the market may be in a downturn, an avalanche [AVAX] Take every opportunity to create important partnerships. With its latest alliance, Avalanche is positioning itself to offer enterprise services, which could mark the beginning of the next phase of blockchain usage.
Read Avalanches [AVAX] Price forecast 2023-24
Avalanche Partners with Amazon AWS
On January 11, Avalanche and Amazon Web Services announced their partnership, which will promote widespread use of blockchain technology in businesses and government agencies.
It’s official! @employee #ChooseAvalanche To provide scalable blockchain solutions to businesses and governments 🔺#AWS Supports the entire Avalanche infrastructure and dApp ecosystem, including one-click node deployment, providing the best tool for these highly compliant use cases. pic.twitter.com/syInSrU9XD
– Avalanche 🔺 (avalancheavax) January 11, 2023
To facilitate the partnership, AWS will provide one-click code deployment through the AWS Marketplace. Use cases that require compliance with FedRAMP standards can be implemented on AWS GovCloud by running Avalanche node operators.
In addition, Ava Labs will provide Subnet Deployment as a Service on the AWS Marketplace. This means that any company or organization can hire Ava Labs to create a unique AWS subnet.
AVAX is rising on the daily timeframe, but…
AVAX has responded positively to the AWS Alliance, as seen in the asset’s daily timeframe chart. At the stock market close on January 11, AVAX was up more than 24% in value. The asset was trading at around $15 at the time of writing, although it lost around 3%. Its price before the 25% increase was approximately $12.
Source: TradingView
The recent price movements have successfully overcome the resistance level set up by the short-term moving average (yellow line). But given where AVAX is, a price drop is likely.
AVAX has entered the overbought area, as indicated by the RSI. The conclusion is that a price correction is approaching, which is likely to be the result given the current state of the RSI.
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Development activity is witnessing an upward trend
The development activity index also showed an upward trend. According to the scale of development activity, the activities of network developers have been expanded. The development activity chart at the time of writing indicated that it had risen to around 15.79.
Source: feeling