The AVAX price hit a record high after the acquisition of Avalanche by Deloitte, but a risk arose.

The "Big Four" company has announced that it will use Avalanche's blockchain for the new project.

AVAX hit all-time highs on November 18 after developer Ava Labs partnered with 'big four' accounting firm Deloitte and revised its weekly earnings.

AVAX shares rose one week at around 16% (WTD) and hit over $ 110, with a market cap of $ 2.376 billion, representing around 0.93% of the total value of the cryptocurrency market. .

On the other hand, top streamers in cryptocurrency regions such as Bitcoin (BTC) and ETHereum (ETH) lost over 13% and 12.50% per week, respectively.

FOMO due to the introduction of AVAX

After Deloitte decided to wreak havoc on the platform using the Avalanche blockchain, the standard for AVAX began to rise.

According to Avalanche founder Emin Gün Sirer, the sale "will help states and local governments easily prove that they are eligible for emergency government funding." Avalanche's blog post also said their blockchain solution could help Deloitte. , these models are now very popular in problem solving.

The data can be used for AVAX in Deloitte's risk management, which will inspire investors to be courageous for good. Cointelegraph Markets Pro information services completed the wave of market forecasts ahead of the AVAX price hike.

At the same time, Cointelegraph Markets Pro's VORTECSTM score turned green on November 12, and AVAX hit a new high. The VORTECSTM Score is an algorithmic comparison of historical and current markets obtained by a combination of data such as market sentiment, volume, recent prices and Twitter activity.

AVAX Technology Perspectives

Market analyst “Seq” announced a rocket emoji on Twitter to reveal his long-term commitment to AVAX based on Deloitte's adoption.

“Deloitte, the world's largest financial services company, which operates nearly 90% of Fortune 500 companies, may have chosen Avalanche as the government agreed to return to work to help governments and city governments to secure the federal financial emergency! $ AVAX https: //t.co/GHzIWuSjfx "

- Seq (@CryptoSeq) 16 novembre 2021

Another analyst, Nico, added that the recent rise in AVAX prices has been accompanied by an increase in volumes, indicating strong momentum after the current rise.

“Drive for a while to new highs, then re-evaluate the current strength and see if that continues. If that happens, we could see above $ 210,000.”

However, indicators from the Relative Energy Index (RSI) show that AVax's rise this week has made it overbought. In other words, AVAX is overheating.

AVax prices fell more than 10% after hitting a new high of $ 110 on November 18. Additionally, the high selling was reinforced when testing the uptrend line, which combined with the forward slope support line (black line difference).

Ideally, the AVAX value can continue until / before it reaches the peak (the point where the two lines intersect). You can then descend to the top of both lanes.