Avalanche Price Analysis: AVAX Coin Price Rallys For A New High Despite The Fall In Market – Cryptocurrency News – The Market Periodical


  • AVAX coin price is currently on a bull trend despite the overall fall in the market . It might soon jump above $50 in the future
  • Avalanche price technical indicators hints towards a strong bullish momentum for the fututre. Meanwhile, AVAX/BTC pair is up by more than 11% in the intraday session

Why To Invest In AVAX Coin?

AVAX coin price is in an uptrend and can soon see a new high in the future . Avalanche price is up by more than 9% in the intraday session and is trading near the value of $48. Avalanche coin has a ROI of more than 9249% which has benefitted various class of investors.

AVAX is looking  to be the leader of  global asset exchange in the cryptoverse, allowing anyone to launch or trade any kind of  asset and control it through a  decentralized manner using the power of smart contracts. AVAX coin price is in a bullish mode despite the fall in overall market.

AVALANCHE market dominance along with the market cap has seen an increase in the past few days. The asset market cap and volume has seen an increase in the past few days.

Volume to market capitalization ratio for AVAX hints towards a strong bullish momentum in price for the future. One can invest in the Avalanche according to their risk capacity and price action.

Bulls Are Pushing The AVAX Coin Price For A New High

Source: Trading view

The weekly technical chart of the AVAX coin price hints towards a strong upside momentum for the future. On the daily time frame there is a long bullish candle formed on the daily chart which tells that the price may soon hit a new high in the future. Avalanche might face a resistance while going up near the value of $55.

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Meanwhile on the downside trend bounceback region can be found near $25. The price of the asset is trading above the 50 and 100 Daily Moving Average,with positive crossover in the past

The 100MA (RED) line is near $29, making it a temporary support region for the coin price. The coin has formed a strong engulfing pattern which can help the price to see a new high in the future. The coin price might soon observe a breakout above $60. AVAX/BTC pair can also see a new high in the future

Conclusion

AVAX coin price is currently in an upside momentum and can soon see a new high in the future. AVAX/BTC pair can also jump to a new high in the upcoming days

Technical Levels

Major Support:$25

Major Resistance:$55

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