Price Analysis

Avalanche(AVAX) Price Primed For 57% Upswing To Hit $128, But There’s A Catch!

Written by: Sahana Vibhute

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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Mar 17, 2022

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Highlights

    Avalanche price breaks out of the consolidation and approaches the crucial resistance manifesting the possibilities of a gigantic rally ahead

    The asset in the previous times attempted a couple of times to break through but eventually failed, yet the current surge showcase a diverse trend

Avalanche price from the past couple of days was preparing to ignite a decent uptrend which is about to materialize very soon. The price after a couple of rejections is about to barge in through the same levels yet again and validate a substantial uptrend very soon. Once these levels are successfully tested, then the path towards a 3-digit figure may be pretty easy to secure. 

The buyers currently appear to have jumped at large numbers who appear to be pretty poised to uplift the price above the crucial levels. If considered small-time frame charts, the sellers do not occupy any large share and hence a decent uptrend may be expected until the end of the weekly trade. However, some barriers do offer a hindrance to the rally and may weaken the strength. But the bulls may be well-prepared to slice through these barriers and lay down a strong uptrend soon. 

Also Read: Weekly Ethereum Trend Displays a Scary Outcome, ETH Price May Slide Back to $2000 Soon!

As said by the analyst, the Avalanche price is approaching one of the crucial resistance levels. And hence settling above these levels may ignite a notable uptrend above $100 at the earliest. However, ranging beyond $100 could validate another minor bull run that may intend to hit the ATH but may not materialize well.

The price is testing the trend line for the third consecutive time in a month and compared to the previous attempt, the current one is appearing extremely strong. The buyers currently are jumping into the platform and uplifting the price to a large extent. And hence no possibilities of a pullback may be expected. However, a strong uptrend may be expected only if the price settles the day’s trade above $86. 

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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