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- The coin has been in an uptrend from the past one month.
- The coin can be a good long-term investment after price crosses its major resistance.
The coin is presently trading close to its 200 EMA (the green line). Moreover the coin has been in an uptrend from the past one month.
AVAX on daily chart
AVAX recently gave a double bottom pattern breakout after which price went to its next near resistance. The coin is currently consolidating at present price levels. The horizontal line marked on the chart demonstrates that price has shown a pullback many times from these levels. So if the price breaks through these levels, it may go up to its next nearby resistance i.e. $25.8057750.
MACD – The MACD indicator has generated a bullish crossover, indicating that the bulls are more powerful than the bears and that the price is likely to rise further. The daily chart of AVAX therefore demonstrates that the coin has gained bullish momentum.
Analyst views and expectations
We may witness a bullish move in the next few days after a short consolidation. Short-term investors should keep an eye on the coin as it can give them some great returns over a short span of time. Long-term investors should also keep watching this cryptocurrency because as soon as the coin crosses its major resistance it can be a good long-term investment option.
According to DigitalCoinPrice, AVAX coin may cost $44.14 by 2023 and $81.11 by the end of 2025.
The highest and minimum costs for 2023 may be about $55.84 and $49.55 respectively, according to the PricePrediction. According to their avalanche price forecast, the price might reach $128.39 by the end of December 2025.
Avalanche investors should anticipate a price increase to $26.5609 in 2023, according to PricePrediction.net , which sounds like a strong reason to think about Avalanche as an investment option.
Bitcoinwisdom.com reports AVAX has a lot of potential for development in 2024. They believe that the price of AVAX will shortly surpass $52.49 due to the probable announcements of various new collaborations and projects. Due to volatility in the market, AVAX will trade with a minimum price of $42.03 and an average price of $46.23.
Technical Levels
Major resistance -$30.584621
Major support -$10.6500343
Conclusion
The coin looks like a good investment option for both long-term and short-term investors.
Disclaimer: The opinions represented in this work along with any other opinions are presented primarily for informative purposes and are not intended to be taken as investment advice.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
