Avalanche Price Prediction – Is a 12% AVAX Rebound Coming?

• The Avalanche value forecast supported a bullish near-term outlook.
• AVAX’s retracement may present an amazing shopping for alternative at $50.

Avalanche of [AVAX] The current pullback may create a pleasant lengthy place with a possible achieve of 12%. Nonetheless, Altcoin may provide nice long- and short-term alternatives.

From a broader perspective, AVAX was one of many prime 100 tokens by market cap, lagging most main tokens by triple-digit YTD (year-to-date) returns.

This might make it a greater shot if it have been to rise to the 2024 ($65) or 2021 ($147) highs.

Supply: Supply: AVAX/USDT, TradingView

Primarily based on historic traits, a decisive transfer above $60 may make $100 (excessive within the 2021 vary) reachable.

Quick-term AVAX outlook

When zooming in on the 4-hour chart, the AVAX retracement was heading in direction of key short-term assist ranges.

Since late November, trendline assist and the dynamic 50-day EMA (Exponential Shifting Common) have stored AVAX’s dump going.

If the pattern repeats, we are able to anticipate a rebound at these ranges, offering a pleasant entry into an extended place at $49.7.

Supply: AVAX/USDT, TradingView

The world under the excessive of $49.8 could possibly be the cease loss to protect capital, which means a drop under $48 would invalidate the lengthy place.

Quick-term value momentum had weakened and will set off a value reversal primarily based on the oversold worth of the Stochastic RSI.

Furthermore, above-average inflows, as mirrored within the CMF, supported the possible value rebound.

Liquidity requirement to $50

That mentioned, the early week shakeout was pushed by a liquidity chase. In keeping with Coinglass, AVAX had tapped liquidity at $52 and was going for liquidity under $50 (shiny yellow degree) on the time of writing.

Since there isn’t a vital liquidity exterior of the $49.8 leveraged lengthy positions, liquidation at these ranges may immediate AVAX to reverse increased.

Supply: Coinglass

Learn Avalanche [AVAX] Value prediction 2024-2025

Upside liquidity constructed round $54-$55. These piled up leveraged quick positions, which could possibly be the subsequent upside goal of the liquidity operation.

The possible restoration, pushed by the liquidity chase, from $49.8 to $54-$55, matches the lengthy concept, with a possible achieve of 12%. Nonetheless, a chronic decline under $48 would negate the near-term bullish outlook.

Disclaimer: The knowledge introduced doesn’t represent monetary recommendation, funding recommendation, buying and selling recommendation or every other type of recommendation and is solely the opinion of the author