Avalanche Price Eyes $50, 2X Run Inevitable For AVAX Price?

Registering 5 consecutive days of optimistic worth motion, Avalanche worth is about to succeed in the $30 mark. Notably, the twelfth largest cryptocurrency by market cap added ~20% this week, making it the primary bullish week since August.

With Bitcoin worth hitting a brand new ATH day by day, will the altcoin market proceed to expertise a bullish rise? With AVAX worth reaching its key goal, will AVAX worth swing additional in the direction of $50 within the close to future?

AVAX Coin Heading for a Multi-Month Breakout?

Avalanche worth added 4.98% to its portfolio within the final 24 hours with a buying and selling quantity of $480.31 million. Furthermore, 18.91% has been added prior to now week and 12.21% prior to now 30 days.

The Relative Energy Index (RSI) has efficiently retested its oversold vary within the 1D timeframe. This has resulted in an aggressive transfer in the direction of the overbought vary.

The EMA 50/200 days signifies a possible Golden Cross within the Avalanche worth chart. This implies that bullish sentiment for the altcoin will enhance within the close to future.

AVAX worth to retest $40 this month?

If the bulls attain the USD 31.50 mark, it could lead on the Avalanche worth to maneuver in the direction of the best resistance stage at USD 39.30. Sustaining the worth above that stage might push the worth in the direction of its goal worth of ~$50 within the coming weeks.

Nevertheless, if this altcoin experiences a sell-off or buyers liquidate their holdings to e-book earnings, this might result in the altcoin retesting the low of $24.

Curious in regards to the long-term objectives of this altcoin? Learn CoinPedia’s Avalanche (AVAX) worth forecast to find the probabilities!

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