Sustaining the strong comeback momentum, Avalanche sustains above the $20 mark over the weekend. With an overnight jump of 3.94%, the AVAX price heads to the overhead milestone of $25, teasing a new breakout rally.
Standing strong amongst the weekly gainers, the AVAX price prediction teases a continuation of the uptrend for the rest of 2023.
Source – Tradingview
With buyers overcoming one resistance level after another, the AVAX price bull run seems unstoppable. Moreover, as the volatility increases, the uptrend continues to find bullish support in trading volume.
The long-range candles above $20 reflect an ongoing brawl between bulls and bears. However, the overall result seems positive as per the closing price of each candle and the lower price rejections from $20.
Currently, the AVAX price trades at $22.42 with a 1.99% pullback following the overnight jump of 3.94%. Keeping a sideways trend between $20-$24, the long range candles prepare a consolidation range.
Further, the increased volatility reflects a huge momentum trapped within the range, marking the importance of the upcoming breakout.
Technical indicators:
RSI: The daily RSI line sustains a sideways trend close to the overbought boundary to reflect the underlying bullish sentiment. Therefore, the momentum indicator supports the upside breakout possibility.
Will AVAX Price Rise To $20?
As the overall market sustains positive momentum and gradual growth in sentiments, the altcoins are ready to soar higher. The AVAX price trend is ready to hop onto any slightest of recovery signals and give a bullish break. Following the $25 break, the altcoin can peak at $29.25.
On the flip side, a reversal under the $20 mark can plunge the Avalanche token prices back to $18.
Source: https://coinpedia.org/price-analysis/will-avax-price-cross-25-amidst-high-volatility-waves/