We expect AVAX to spike above $100 soon


www.cryptopolitan.com

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  • Avalanche price analysis is bullish today.
  • AVAX/USD is currently trading at $95.
  • Support at $83.5 found over the last hours.

The analysis of the price of an avalanche is bullish today, as we anticipate that the decline seen over the last 24 hours has come to an end with a higher low set at $83.5. As a result, AVAX/USD will improve later this week to continue the broader several-week bullish trend.

The Avalanche price is currently trading at $95.00, down 0.2 percent over the last 24 hours. The coin has clearly found support above $83.5, as was expected after yesterday’s decline seen below this level. This price action suggests that the bearish momentum of December 28th has ended, and AVAX/USD will improve later this week to continue the broader several-week bullish trend.

Avalanche price movement in the last 24 hours: Avalanche sees heavy selling, leading to a spike to $83.5

This was triggered after a sudden spike to $90 seen on December 28th. Given the current price action, we anticipate that AVAX/USD will improve later this week to continue the broader several-week bullish trend and potentially rally towards $120 in the coming weeks. The strength of this advance may hinge upon fundamental factors such as regulatory announcements and technological developments.

The Avalanche price is currently trading at $95.00, down 0.2 percent over the last 24 hours. The coin has clearly found support above $83.5, as was expected after yesterday’s decline seen below this level. This price action suggests that the bearish momentum of December 28th has ended, and AVAX/USD will improve later this week to continue the broader several-week bullish trend.

AVAX/USD 4-hour chart: AVAX ready to reclaim loss?

On the 4-hour chart, we see rejection for further downside for the Avalanche price action over the past hours, likely leading to a move higher later today.

AVAX/USD 4-hour chart. Source: TradingView

Since the start of November, the price of an ounce of bitcoin has risen steadily. After reaching a high of $97 last week, another higher low was established around $81, which peaked at $100.

The Avalanche price is currently trading at $95.00, down 0.2 percent over the last 24 hours. The coin has clearly found support above $83.5, as was expected after yesterday’s decline seen below this level. This price action suggests that the bearish momentum of December 28th has ended, and AVAX/USD will improve later this week to continue the broader several-week bullish trend.

We expect some degree of consolidation around current levels, which appear to be finding support around $90 as this week progresses.

The crypto is currently trading below the simple moving average (SMA) with a period of 100 and above the SMA of 200, which means that these averages are under-performing. This indicates that AVAX/USD will likely improve later today or within a few days. Also, Avalanche price analysis shows that the coin is still below the short and medium-term resistance levels and support levels: $110.00 and $100, respectively.

The 14-day SMA highlights how the bulls failed to break over $106 – which was expected after yesterday’s sharp decline seen below $90 – resulting in Avalanche price analysis bearish momentum continuing slightly higher before stabilizing.

Avalanche Price Analysis: Conclusion 

Today’s price analysis for the Avalanche is bullish, with a selloff following a heavy pounding. As a result, we anticipate AVAX/USD to rise further, possibly leading to more high peaks established by the end of the week.


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