Avalanche Price Prediction, Hold or Fold in Face of Gains
- In the dynamic cryptocurrency market, major tokens exhibit continuous price fluctuations as they undergo substantial shifts in their respective values.
- Within the last 24 hours, the value of Avalanche coin has surged by more than 10%, bringing it to the brink of achieving a new annual peak.
Avalanche has risen by more than 10%, breaking over the $45 barrier
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According to CoingabbarPrice Analysis, AVAX price surged over 10%, breaking the $45 level, and is poised to surpass the $50 resistance.
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Supported by the $38.00 level against the US dollar, AVAX is currently trading above $42.00 and the 50 hourly simple moving average.
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Recent breakthroughs above key resistance points indicate a strong bullish hold on the rally.
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Despite a drop in volume, sustained buying pressure underscores bullish strength in the market.
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Anticipating a resumption of the upswing, AVAX price is expected to surpass the 1 FIB level, reaching new highs beyond $50 after a brief consolidation.
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To maintain momentum, bulls need to keep the price above the $45.00 support level, paving the way for a test of the upper resistance at $50.
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Conversely, if bears take control, AVAX may lose momentum and test the $40 support in the upcoming week.
KEY LEVELS :
RESISTANCE LEVEL : $47.00-$50.00
SUPPORT LEVEL : $43.00-$39.00
Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.
