Avalanche Holds Above $40, AVAX Price To Hit $60 With A 50% Reversal?

Story Highlights

• The Avalanche price retests the $45 mark, eyes to hit $50.
• The EMA 50/200-day record a Golden Cross in the daily time frame, highlighting a higher target.
• The AVAX price has soared over 70% during this month.

The AVAX token has maintained its bullish price action despite increased price volatility. This indicates investors’ resigned interest in this cryptocurrency project. Moreover, the altcoin is on the path of retesting its target price of $50 this week.

Will the Avalanche price hold on to its gains and continue rising? Or will it experience a strong bearish pullback in the upcoming time? You are minutes away from uncovering the short-term prospects of the Avalanche (AVAX) crypto token.

AVAX Price Retests $50 Mark!

With an intraday surge of 0.96% in 24 hours and a trading volume of $2.213 billion, the Avalanche price had reclaimed the $45 mark. Moreover, it has added 27.71% over the last seven days and 72.38% during the last 30 days.

The Relative Strength Index (RSI) successfully retests its overbought range in the daily time frame. Further, with its average trendline recording a similar price action, this altcoin may continue gaining momentum this week.

The EMA 50/200-day has recorded a Golden Cross in the Avalanche price chart. This suggests that this altcoin may continue gaining value during the upcoming time.

Will AVAX Price Hit $50?

If the market maintains the bullish momentum, the Avalanche price will prepare to test its resistance level of $48.25. Moreover, if the positive influence is sustained, this altcoin could head toward its upper resistance level of $57.20.

On the flip side, if the bears regain power, the AVAX token will retest its support level of $40. Furthermore, if the bearish sentiment intensifies, it could plunge toward its lower support level of $31.50.

Wondering about the long-term price prospects of this altcoin? Read CoinPedia’s Avalanche Price Prediction and subscribe to us to stay updated on the latest cryptocurrency news!

FAQs