Avalanche (AVAX) Predicted to Gain 40% if Price Breaks $37 Resistance
Avalanche (AVAX) Price Prediction
- Avalanche is anticipated to gain 40% if it breaks above the $37-$38 trendline.
- If AVAX does not break this level, a retest of support at $34.18 is expected, with potential drops to $29.17, $24.69, or $22.18.
- Current trading volume increased by 52.69% in the last 24 hours, totaling $499.79 million.
- Avalanche's market cap is $14.89 billion, ranking it 12th among cryptocurrencies.
Technical Indicators
- Accumulation has been rising since November, indicating potential reversal patterns.
- AVAX price sits at the lower end of Bollinger Bands, suggesting bearish conditions.
- The Relative Strength Index (RSI) stands at 44.03, indicating stronger selling pressure than buying pressure.
Charts indicate a descending triangle pattern on the four-hour chart, suggesting high probability for upcoming price movements.
