The Avalanche price had its gigantic run since the Q4 2021 which uplifted the price from just $10 to as high as $147, within a very short time frame. No doubt the asset since then is swinging within a notable descending trend but very soon the asset may reverse the trend and breach through the resistance levels and range high to hit its ATH very soon.
While the crypto space was on its way to recovering the loss with a notable surge, yet again the bears bragged in action to squeeze the uptrend. And hence as the Bitcoin price fell from above the $38K to the levels below $36K, the entire market was shaken a bit.
And hence AVAX price which had received a significant bullish momentum again fell into the same bearish trap. However, the asset is due for a notable rally as the chart pattern points out.
AVAX Price To Hit ATH Soon ?
The AVAX price is much close to one of the important support levels at $53 and may also hit these levels and attempt to flip from here. However, here the asset may either flip as assumed or else slice through these levels and hit the lower strong support at $40.
It may slip as the selling volume is pretty high at the current moment which will drag the price to the lowest levels before a flip. And hence could ultimately attract more liquidity onto the platform that may ignite a notable uptrend.
The upcoming upturn may not be a striking one as it may include a couple of corrections too. The AVAX price is expected to range beyond the immediate resistance levels and gets exhausted a little to undergo a minor pullback. Here is where the asset could accumulate its strength and eventually spike high to form a new ATH much beyond the $150 levels shortly.
Source: https://coinpedia.org/price-analysis/avalancheavax-price-form-a-new-ath/