Is Avalanche (AVAX) Price Ready To Take Out $100!
Avalanche (AVAX) price rises for the third straight session on Tuesday. AVAX’s price has gained above 40% in the past five days. There are multiple technical indicators that suggest the current momentum is here to stay at least in the short term.
- Avalanche (AVAX) price rose on Tuesday.
- Expect more upside if the price breaks away $100.0
- The 24-hour trading volume stands at $1,668,368,250 with 122% gains.
AVAX awaits a Symmetrical triangle breakout
Avalanche (AVAX) price has been trading inside the ‘Symmetrical Triangle’ formation since the beginning of January. AVAX has lost almost 54% from the highs of $117.61. Furthermore, the price breached the 20-DMA at $111.27.
Recently, the price has reversed the downtrend after taking support near the lower trend line of the symmetrical triangle. An acceptance above the mentioned moving average pushes the price toward the upper trend line.
However, investors felt a bit exhausted near the recent highs as after hitting the multi-week highs around $97.0 the price retreated toward $85.0. On Balance Volume (OBV) has been rising along with the momentum oscillator.
The Daily Relative Strength Index (RSI) is approaching toward the overbought zone while reading at 57.0.
A breakout above the intersection point of the Symmetrical triangle formation investors could test the psychological $100.0 level. The next highs of January 2 will be in the spotlight of investors.
Alternatively, the formation of a ‘Doji’ candlestick indicates some indecision among investors. If the next daily candle is a red one then the probability of lower breakout is quite higher. As a consequence, the immediate target is placed at $70.0.
- Will Bitcoin Reverse to $115K Max Pain Price amid Crypto Options Expiry Today?
- Cardano Gets 100 Million User Exposure With Brave Integration, Whales Scoop 70M ADA
- Japanese Gaming Firm Gumi to Boost Treasury With BTC, XRP After $38M Raise
- BNB Leads Crypto Market Rally With Fresh All-Time High, Expert Sees $5000 Upside
- Billionaire Ray Dalio Calls Bitcoin “Alternative Money” as BTC Profit-Taking Tops $3.7B Amid $120K Rally
- Pi Network Price at Risk of Another Crash as Mysterious Whale Stops Buying
- Solana Price Eyes $360 After Bullish Retest As VisionSys AI Deploys $2B Treasury Strategy
- Cardano Price Forecast As Hashdex Listing Fuels Optimism For $1.27 Breakout
- BONK Price Rally Ahead? Open Interest Jumps as TD Buy Signal Flashes
- Shiba Inu Price to Surge as Whales Buy and Team Commits to Shibarium Growth
- XRP Price Prediction After Ripple CTO David Schwartz Resigns
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.
