
The bullish setup also emerged as crypto custodian BitGo announced that it would add AVAX to its service portfolio.
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The sharp bounce back in Avalanche market yet faces risks of exhaustion as the price forms a bearish wedge setup.
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The bullish setup emerges as traders raise their upside bets in smart contract protocols that rival Ethereum.
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The AVAX/USD exchange rate slips more than 16% after testing its May 2021 resistance level.
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