Avalanche has just teamed up with Stripe to simplify crypto purchases within Web3 apps.
A new widget will allow users to buy AVAX directly within apps, eliminating the need for external exchanges.
Despite a recent price dip, the collaboration with Stripe could spark a rebound for Avalanche.
Keep an eye on $29 (support) and $40 (resistance) for potential price movements of AVAX.
The crypto landscape is in one of its best times yet, considering the new wave of institutional and traditional adoption.
First, we had the approval of the Bitcoin ETFs by the SEC in January, and now we have traditional financial institutions starting to recognize the potential of crypto.
Very recently, there are reports about a new collaboration between Avalanche and payment giant, Stripe to introduce one of the first of its kind fiat-to-crypto onboarding process.
This partnership is set to make crypto transactions as common as bank transfers in applications like online shopping, food ordering and other applications, to mention a few.
According to reports, Avalanche C-Chain users can now buy AVAX directly within Web3 apps by using a widget supplied by Stripe.
Avalanche’s new partnership
According to Avalanche’s announcement, the widget is set to be embedded into the UIs of web apps, allowing users to easily exchange their fiat into crypto at the tap of a button.
As expected, this feature is a massive milestone and is set to bring crypto straight to millions more users.
This new collaboration was designed specifically to address the “cold start problem” that web3 platforms commonly suffer from.
These issues arise when users run out of funds to perform certain functions and need a quick way to top up their crypto wallet balances.
Stripe/Avalanche’s widget allows these users to quickly change fiat into crypto, and then perform whatever functions they need to, without leaving the platform.
Stripe, on the other hand, handles things like KYC, fraud detection, and compliance.
According to CoinMarketCap, $AVAX hasn’t been very bullish lately.
The 12th largest cryptocurrency currently trades at around $33.4 and is down by more than 15% over the last week.
Avalanche’s price
However, if there was ever a good time to consider getting in on AVAX, now might be the time.
Avalanche
According to the chart above, Avalanche lost its footing above the (red) ascending trendline above, after the post-Bitcoin halving decline across the market.
As a result, the cryptocurrency is declining further and is about to retest the (blue)ascending trendline.
The bulls are likely at their strongest at the (blue) ascending trendline, considering the length of the lower wicks on the candlesticks from 23 January and 13 April.
This means that if we see a rebound off the (blue) ascending trendline somewhere around $29, we still need to see AVAX break above the (red) ascending trendline again, around $40.
In essence, the support to watch out for is $29, and the resistance to keep an eye out for is $40.
If we see a break and close above $40, AVAX would have everything it needs to continue further upwards and retest $65.4 or even higher.
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