- 1 Avalanche price prediction suggests this coin might outperform in 2024.
- 2 AVAX price recovered approx. 114% in the last two months.
- 3 Avalanche crypto hits YTD high and is getting ready for the next phase of the rally.
Avalanche price prediction suggests the rally in AVAX will continue and new swing highs are possible.
AVAX price recovered 114% approx. in the last two months and positive momentum is still intact. It seems to be in a strong uptrend and rising upward by forming high high candles.
While recovering, the buying volume is quite high which indicates some big players had injected the money and participated in the rally. The chart pattern of Avalanche is highly bullish and shows the strength of the buyers.
AVAX crypto managed to sustain the price above the $20.00 level which forced the sellers to step back. Recently, AVAX price regained momentum and began to rise upward indicating bulls have taken control over the $20.00 supply zone.
The 50-day EMA and 200-day EMA displayed a positive crossover added fuel to the upward momentum. The price trading above the EMA confirms the uptrend. However, the price looks mildly overstretched. So, buyers need to be careful and wait for minor dips to build fresh longs.
Currently, AVAX price is trading at $27.17 with a one-day increase of 3.39%. The 24-hour volume-to-market cap ratio stands at 11.41%.
Avalanche Price Hits YTD High; Next Destination $30 Mark?
Avalanche price prediction suggests a rise in the short run as well as in the long run. Recently, it broke the $22.00 level and hit a new YTD high which triggered a further rally.
The price action says AVAX might reach the $30.00 mark without showing any correction. This type of price behavior is mostly visible when the instrument is in a strong uptrend.
Therefore, aggressive investors may take the risk and go long from the current levels. However, the conservative approach will be to wait for a breakout or downward retracement to build longs.
AVAX Price is Bullish on Multiple Timeframes
AVAX price is bullish on a daily, weekly, and monthly time frame chart. It shows that bulls are more active and aggressive as compared to bears. Therefore, the probability of a $30.00 breakout remains high.
However, if the price faced rejection from the $30.00 then it might retrace back to the 50-day EMA.
The MACD curve displayed a positive crossover and the histogram bar is green showing strength in the up move. However, the RSI at 78 denotes an overbought zone so minor profit booking may trigger anytime.
Avalanche price prediction suggests the uptrend will continue and AVAX may hit new swing highs. The chart pattern is bullish and favoring the upward direction so it’s better to play bullish bets and stay with the trend.
- Resistance levels: $30.28 and $36.00
- Support levels: $18.96 and $14.63
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Amanda Shinoy is one of the few women in the space invested knee-deep in crypto. An advocate for increasing the presence of women in crypto, she is known for her accurate technical analysis and price prediction of cryptocurrencies. Readers are often waiting for her opinion about the next rally. She is a finance expert with an MBA in finance. Quitting a corporate job at a leading financial institution, she now engages herself full-time into financial education for the general public.