NewsletterAvalanche Price Prediction: AVAX Jumps 7%; Keep Eyes On $120.0
AVAX price started the week on a higher note and continued to print the gains. The price faces resistance near three-month highs near $103.However, the downside risk remains limited as the current price action suggests strong buying momentum.
- AVAX price locks in meticulous gains on Saturday.
- Bulls aim for $120 on a decisive close above $102.
- The momentum oscillators tilt in favor of bullish sentiment.
AVAX price look for further gains
AVAX price is making efforts to continue moving north as tested the levels last in January. A strong green candlestick indicates the underlying bullish current in the asset. Next, if the price is able to breach the highs of March 5 at $106.59 then it would be easier for the bulls to march higher.
A resurgence in the buying pressure would push into a higher trajectory toward the psychological $120.0 level.
On the other hand, a shift in the bearish sentiment could result in the pullback in the price towards the lows of sessions at $96.07.
Next, a daily close below the critical $90.0 level would trigger a fresh round of selling in AVAX. The sellers would next aim for the 50-day EMA (Exponential Moving Average) at $82.55.
As of press time, AVAX/USD is trading at $102.65, up 6.34% for the day. The 10th largest cryptocurrency is holding the 24-hour trading volume at $1,718,502,769 as per the CoinMarketCap.
Technical indicators:
RSI: The Relative Strength Index traded above the average line since March 17. Currently, it reads at 70.
MACD: The Moving Average Convergence Divergence shows strong bullish momentum above the central line.
Trading volume: The On-balance volume reflects the force of demand-driven growth in the prices.
- Bitcoin Eyes Fresh Demand as Indiana Advances Bill for Crypto Investments
- Crypto Bill Markup Unlikely This Month Amid DeFi, Stablecoin Yield and Conflict Disputes, Expert Says
- Breaking: U.S. PCE Inflation Rises To 2.8%, Bitcoin Climbs
- Michael Saylor Opposes Zcash-Style Privacy for Bitcoin, Citing Shutdown Risk
- Crypto Exchange Bitget Unveils Major GetAgent AI Overhaul With Faster Insights
- Solana Price Outlook: Reversal at Key Support Could Lead to $150 Target
- Is Cardano Price at Risk of a 50% Crash Ahead of the Midnight Launch?
- Chainlink Price Prediction as Reserves Pass 1M LINK – Is $20 Next?
- Ethereum Price Breaks Out of Falling Wedge: Next Target Now Set at $5K
- Is ZCash Price Set for a Bigger Rally After Its 10% Surge on the Bitget Listing?
- Aster Price Outlook as Buyback Wallet Burns 77.86M ASTER Worth $79.81M
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
