Avalanche is now trading above the Bull Market Support Band, which are positive signs for the long-term outlook.
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AVAX is now trading above the 20-week simple moving average and the 21-week exponential moving average , which are positive signs for the long-term outlook.Many traders are questioning whether AVAX could see significant gains and potentially outperform Bitcoin in the final quarter of the year.Examining the AVAX/BTC valuation over the past two months shows that Avalanche has demonstrated more strength than Bitcoin.
If Bitcoin leads the anticipated bullish quarter, Avalanche could face challenges in maintaining its edge. However, AVAX has established an early lead against BTC, but it remains uncertain whether this will hold.Data for the past week, month, and quarter shows AVAX gaining 2.81%, 1.79%, 20.23%, and 2.23% respectively against Bitcoin, setting the stage for potential outperformance in Q4.Another key metric is Avalanche’s 365-day return on investment , which currently stands at 3.067.
This dynamic could contribute to AVAX’s continued rise in price, further supporting the case for a strong performance in the final quarter of the year.The Altcoin Season Index offers another perspective on Avalanche’s potential to outperform BTC. This index tracks how many top 50 altcoins have a 90-day ROI greater than Bitcoin.
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