Bergen County, New Jersey, plans to move $240 billion in real estate deeds onto Avalanche’s blockchain. This bold step could reshape property records forever. The question now: can this massive shift push the price of AVAX Coin sharply higher? The crypto world is watching closely.
AVAX Price Holds Steady Amid Real Estate Breakthrough
\Avalanche’s AVAX, ranked 14th in the crypto market, is holding steady while many altcoins show clear trends. Currently, the Avalanche crypto price trades near $23, with a market capitalization of around $9.8 billion.
Daily trading volume remains solid at about $358 million, signaling ongoing investor interest. Over the past three days, the AVAX price has been consolidating between $ 22.50 and $24, a classic buildup phase. After such accumulation, a price expansion often follows, suggesting the Avalanche price could break out soon.
Building on AVAX’s steady range, Avalanche’s move into real estate could trigger a big price jump. Bergen County, NJ, will digitize $240 billion in property deeds on Avalanche’s blockchain through a five-year deal with Balcony, a land record blockchain firm. This covers 370,000 deeds across 70 municipalities, serving nearly a million residents.
Avalanche’s fast, scalable network cuts deed processing from 90 days to just 1 day, slashing time by 98.89%, according to the team in a recent announcement. Blockchain also reduces fraud risks by providing transparent, immutable records. This project connects Avalanche to the rapidly expanding market for digital ownership of real-world assets, valued in the trillions.
Avalanche Technical Analysis and Price Targets
Avalanche’s real estate deal raises bullish hopes as the 50-day moving average climbs. Key resistance is located near $24.57, with strong support at $22.50. Most technical indicators remain neutral, including RSI. However, a rising ADX strengthens buying sentiment. This signals growing momentum behind the AVAX price action.
Avalanche price action shows promise, currently trading near $23. According to Ali Charts on X, the AVAX coin sits within a descending channel. A 4-hour close above the mid-boundary at $27 would confirm strength and open the path to $43.
On a broader scale, TheCryptera on X notes AVAX broke out of a multi-month falling wedge, a classic bullish reversal pattern. This breakout followed strong accumulation between $17 and $19 weeks ago, signaling a possible trend change. Buyers are gaining momentum, targeting prices as high as $61 if the rally continues.
Crypto enthusiast snapsnocaps has the most optimistic prediction for the AVAX price. He sets a price target of $2,000 during this bull run. This may sound extreme, or even laughable. However, remember that major coins like Bitcoin and Ethereum also started at very low prices. The crypto market is highly volatile. Prices can skyrocket or crash to near zero within moments. This unpredictability means such bold targets, though unlikely, cannot be entirely dismissed.
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