With five consecutive days of positive price movement, Avalanche's price is nearing the $30 mark. Notably, the 12th ranked cryptocurrency by market capitalization has risen by about 20% this week, marking the first bullish week since August. As Bitcoin prices reach new highs daily, will the altcoin market continue to experience a bullish rally? Furthermore, as AVAX price reaches its key targets, will it soar to $50 in the near future?
Is AVAX about to experience a breakout that lasts for months?
Avalanche's stock price has increased by 4.98% in the last 24 hours, with a trading volume of $480.31 million. Additionally, it has risen by 18.91% in the past week and 12.21% in the last 30 days.
TradingView: AVAX/USDT
The Relative Strength Index (RSI) has successfully retested its oversold range in the 1D time frame. This has led to a significant rise towards the overbought range.
The EMA 50/200 daily lines suggest a potential golden cross in the Avalanche price chart. This indicates that bullish sentiment towards the altcoin is likely to increase in the near future.
Will AVAX price retest $40 this month?
If the bulls reach the $31.50 mark, it could lead the Avalanche price towards its upper resistance level of $39.30. Maintaining prices above this level could push the price towards its target price of around $50 in the coming weeks.
However, if this altcoin experiences a sell-off or investors liquidate their holdings for profit, it could lead to a retest of the $24 low.
With five consecutive days of positive price movement, Avalanche's price is nearing the $30 mark. Notably, the 12th ranked cryptocurrency by market capitalization has risen by about 20% this week, marking the first bullish week since August. As Bitcoin prices reach new highs daily, will the altcoin market continue to experience a bullish rally? Furthermore, as AVAX price reaches its key targets, will it soar to $50 in the near future?
Is AVAX about to experience a breakout that lasts for months?
Avalanche's stock price has increased by 4.98% in the last 24 hours, with a trading volume of $480.31 million. Additionally, it has risen by 18.91% in the past week and 12.21% in the last 30 days.
TradingView: AVAX/USDT
The Relative Strength Index (RSI) has successfully retested its oversold range in the 1D time frame. This has led to a significant rise towards the overbought range.
The EMA 50/200 daily lines suggest a potential golden cross in the Avalanche price chart. This indicates that bullish sentiment towards the altcoin is likely to increase in the near future.
Will AVAX price retest $40 this month?
If the bulls reach the $31.50 mark, it could lead the Avalanche price towards its upper resistance level of $39.30. Maintaining prices above this level could push the price towards its target price of around $50 in the coming weeks.
However, if this altcoin experiences a sell-off or investors liquidate their holdings for profit, it could lead to a retest of the $24 low.
