The AVAX price has made a strong bullish recovery after successfully retesting its important support level around the $30 mark. With this, the 12th largest altcoin hints at a positive price action this week.
Amid ongoing crypto market recovery, will Avalanche price record a new 52-week high during the upcoming time? Or will this altcoin experience a strong bearish reversal in its portfolio?
AVAX Coin Price Successfully Retests Its Important Support Trendline!
With a weekly gain of ~5%, the Avalanche price has maintained its value above the $30 mark. Moreover, it has added 25.69% to its valuation in the last 30 days. It is currently holding the 12th position with a market cap of $14.38 billion.
The Moving Average Convergence Divergence (MACD) displays a constant green histogram with a steady rise in the green histogram. This indicates a positive outlook for the altcoin in the crypto market.
On the other hand, the EMA 50/200-day records a Golden Cross in the 1D time frame. With increasing volatility, the AVAX token may continue gaining value in the upcoming time.
Will Avalanche Price Retest $50 This Q4?
Suppose, the market continues favoring the bulls, in that case, the AVAX coin price will head toward its resistance level of $39.30. Further, if the bullish sentiment intensifies, this could result in this altcoin retesting its upper resistance level of $48.45.
On the contrary, if the bears outrun the bulls, the Avalanche token will retest its support level of $31.50. Moreover, if the bears dominate the market, this could result in its retesting low of $24.30 this month.
To find out, if AVAX price will reach $1000? Read CoinPedia’s Avalanche Price Prediction and follow us to stay updated on the latest crypto news!
FAQs
Considering the current market sentiment, the AVAX token may hit $160 in 2025.
This altcoin has gained ~26% in 30 days, making it a potential pick for a long-term portfolio.
For AVAX crypto to hit $1000, it will require a surge of 2,735.27%.
