Avalanche Price Analysis: AVAX breaks $60 previous all-time-high, set to rally further today?

Avalanche Price analysis

TL;DR Breakdown

  • Avalanche price analysis is bullish for today.
  • AVAX/USD saw a strong rally this week.
  • AVAX broke a new all-time high this morning.

Avalanche price analysis is bullish today as the previous all-time high of $60 was broken earlier today, and the market continues moving higher. Therefore, we expect AVAX/USD to continue higher today and continue being the best performer.

Avalanche Price Analysis: AVAX breaks $60 previous all-time-high, set to rally further today? 1
Cryptocurrency heat map. Source: Coin360

The overall market traded with mixed results over the last 24 hours. The market leaders, Bitcoin and Ethereum, are up by 0.45 and 3.47 percent, respectively. Meanwhile, Avalanche (AVAX) is the best performer, with a gain of over 25 percent.

Avalanche price movement in the last 24 hours: Avalanche breaks above $60 previous all-time-high

AVAX/USD traded in a range of $48.35 – $64.87, indicating substantial volatility over the last 24 hours. Trading volume has increased by 1.88 percent and totals $2.98 billion, while the total market cap trades around $13.7 billion, ranking the coin in 13th place overall.

AVAX/USD 4-hour chart: AVAX targets the $70 mark next?

On the 4-hour chart, we can see the Avalanche price continuing to move higher after breaking above the $60 mark this morning.

Avalanche Price Analysis: AVAX breaks $60 previous all-time-high, set to rally further today?
AVAX/USD 4-hour chart. Source: TradingView

Avalanche price action has seen substantial volatility this month. After several weeks of consolidation at the end of August around the $40-$50 price area, a spike lower to $33 was seen on the 7th of September.

However, from the $33 support, AVAX/USD quickly recovered earlier this week, rallying to the $52 previous local swing high. The further upside was seen yesterday, with the previous all-time high of $60 reached overnight.

Earlier this morning, the bullish Avalanche price action momentum continued, with the $60 mark broken. What followed was a move to $65, where the new all-time-high stands. As long as AVAX keeps up its bullish momentum, we expect further upside over the next 24 hours, with the $70 mark as the next target.

Avalanche Price Analysis: Conclusion 

Avalanche price analysis is bullish as a new all-time high was set this morning at $65 after a strong rally over the last 24 hours. Therefore, we expect further upside later today, with the $70 mark as the next target.

While waiting for Avalanche to move further, read our articles on Wrapped Bitcoin, Decentralized Exchanges, as well as NFT Marketplace.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Lapin

Lapin

Lapin is an experienced freelance Crypto and Financial market writer and analyst. He has been trading for several years and holds a bachelor’s degree in Finance.

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