Avalanche integration live on Wirex, AVAX jumps 15% in response

Key Takeaways:

• Wirex users can now access Avalanche’s AVAX token the payments app.
• AVAX prices jumped 14.9% after news hit the wire.

NEW DELHI (CoinChapter.com) — Crypto-friendly digital payments platform expanded its ecosystem to include Avalanche blockchain’s AVAX token.

The partnership would expose Wirex’s 4.5 million users to the AVAX token and grant them access to the Avalanche blockchain. Wirex helps users spend more than 62 fiat and cryptocurrencies at more than 61 million locations globally.

Also Read: AVAX explodes 27% in three days as Avalanche gains another road to Ethereum.

With support for Avalanche in the application, Wirex users would be able to purchase AVAX with their debit or credit cards, send and receive AVAX or exchange it. In addition, Wirex users would earn 20% AER interest on AVAX through the app’s DeFi savings product, X-Accounts.

Linked up to a crypto-enabled debit card, @Wirexapp users can now spend $AVAX and 60+ crypto and traditional currencies on the Wirex platform, which is accepted at 61M locations globally. https://t.co/Tbg0Tf0C3z

— Avalanche 🔺 (@avalancheavax) February 28, 2022

Avalanche and Wirex worked with Mastercard to help with the successful integration of AVAX on the platform.

Avalanche’s reputation for improving blockchain’s accessibility closely aligns with Wirex’s, where we can together help to offer users of all backgrounds more choice and flexibility over how they wish to use crypto.

 said Pavel Matveev, CEO and Co-Founder of Wirex

Meanwhile, AVAX Prices

Started moving upwards soon after news of the Wirex integration hit the wire. As a result, prices reached an intraday high of $82.6 from Feb 28’s low of $71.8, jumping nearly 15%. The price boost brought AVAX close to its immediate resistance at $83.6.

Furthermore, if bulls continue buying, prices could flip immediate resistance to challenge resistance at $89.4. The Avalanche token would need to consolidate above the $89.4 resistance level before bulls can try to move above the 100-day MA (yellow wave) to target resistance near $97.7.

The relative strength index for AVAX is neutral, clocking 50.22 on the daily charts. Meanwhile, Feb 28’s uptrend brought AVAX above its 50-day (violet wave) and 200-day (red wave) MA trendlines, indicating that the Avalanche token is bullish in the short and long-term time horizons.

Also Read: Avalanche (AVAX) at rebound level amid a new partnership.

On the other hand, if Avalanche fails to sustain its uptrend, its prices could fall to immediate support near $74.5. Moreover, strong selling pressure from bears would likely bring the support at $66 into play. Finally, the Avalanche token also has support near the $59 price level.

The $59 support level has been unbroken since AVAX moved above it mid-Oct last year.

Meanwhile, trend-based momentum oscillator MACD is showing strengthening bullishness in AVAX’s price momentum.

Bearish bars on the MACD histogram are contracting, indicating the MACD line (difference between 12-day and 26-day EMA) is moving up towards the MACD signal line (9-day EMA of MACD). It might soon move above the signal line to chart a bullish crossover.

At the time of writing, AVAX was trading at $80.1, up 6.67% on the day.