AVAX Continued its Upward Trajectory

Avalanche (AVAX)
Despite Bitcoin's recent decline to the $40,000 mark, AVAX has continued its upward trajectory this December. In the last fortnight, the asset has surged by 66%, hitting a new annual high at $42.96.

Currently, AVAX is undergoing a correction, with its price hovering around the support zone of $32.7-$34.7. The key resistance level to watch is $38.4. If breached, the coin might retest the higher resistance zone of $40.7-$43.0.

The future course of AVAX will heavily depend on Bitcoin's trend. A continued downtrend in BTC could potentially drag AVAX down to new lows, possibly to $30.5 or the $26.2-$28.4 level.