- 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.
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.
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