Avalanche Price Analysis: We expect AVAX to continue hiking for the next 24 hours

Avalanche price analysis
  • Avalanche price analysis is bullish today.
  • AVAX/USD is trading at $93.4
  • After a brief pause, AVAX is now poised to soar higher than ever before.

The $83.5 level was a barrier to further downside yesterday, resulting in sluggish trading today above the support. We will almost certainly observe AVAX go past the $90 level in the coming days.

AVAX/USD is trading at $93.4 with a gain of 10.6%. The pair has been generally rising since it broke past its support but is still below the previous high of $102.7 as it finds resistance at $94.

It seems that the bearish market we saw for the past few weeks is over. AVAX is at a pivotal moment right now – it could reach up to $100 within the next couple of days if it keeps going this way.

The currency has experienced a bullish trend for the past couple of days. Even if today’s market activity was relatively flat, this could be a signal that AVAX will make a strong comeback soon.

We are expecting the currency to reach up to $100 again soon. If it trades above the resistance at $94.3 for more than 48 hours, we can say that there is a strong chance that AVAX will be able to go up.

AVAX/USD 4-hour chart: AVAX ready to rally again?

The coin has been struggling to maintain a stable market position over the past few days, but it’s now ready for another leg higher – possibly bringing its price up to $90 once again.

The last 24 hours of trading have been steady for the AVAX coin. After peaking at $93.5, the coin experienced some downside momentum that brought its value past support at $78 – but it managed to bounce back strongly once again, closing the day just below the resistance level at around $92.

A bullish market would have AVAX trading at $90 in the next few days. If the currency is able to break past resistance, it is highly likely that it will be on its way towards achieving another all-time high – this time at around $100.

Avalanche Price Analysis: We expect AVAX to continue hiking for the next 24 hours 1
AVAX/USD 4-hour chart. Source: TradingView

Following the conclusion of October, when a strong rally began, bearish momentum returned to the AVAX price chart. From the previous low of $60, AVAX/USD rose 35 percent to reach a high of $95, which was formed by a strong higher high.

AVAX initially declined from $80 to around $60, after which it experienced a short-term downturn before testing the psychological round number of $100 once again. On Thursday, the market reversed course and dropped back to its opening level of $73.5. Support was discovered, propelling AVAX to another surge.

Avalanche Price Analysis: Conclusion 

Because of this, we anticipate that the price of the Avalanche will be bearish. Following a strong rejection for more losses, a new higher low has been established, suggesting that the price of the Avalanche is bearish. As a result, we anticipate that AVAX/USD will start moving up soon, with the $81 resistance broken.

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.

Sergio Goschenko

Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved.

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