Price Analysis

Avalanche (AVAX) Price Is Looking Super Strong, Possesses The Potential To Surge Nearly 65%

One of the fastest smart contracts platforms, Avalanche’s first desktop wallet recently launched version 2.0. The new features are said to be pretty compatible with all the DApp on Avalanche blockchain. Hence, the AVAX price could skyrocket to the moon in the coming days. 

The asset went parabolic since the price experienced a huge crash during mid-may. After undergoing notable ups and downs, the asset managed to surge beyond $60. However, with the recent dip and correction, the price formed a ‘w-shaped’ pattern and broke above the levels. 

Also Read: ZCASH(ZEC), Harmony(ONE) Price Could Fall Into Bearish Trap! What’s Next?

Source: Tradingview

The AVAX platform experienced a huge influx of volume since the mid of august 2021 which gave an immense boost to the price. After the recent retracement from $60 to around $50 and a rebound to prior levels, the asset formed a ‘w-shape’. Moreover, with the recent surge, the asset broke the neckline and is currently on the verge to test the strong resistance levels at $71. 

Also, the price is trending within an ascending channel with a notable rebound from support levels and rejection from resistance levels. If the price maintains the same trend, then the levels at 1.4 FIB levels at $126 could be an achievable target. Hence the Avalance (AVAX) price may regain their lost positions soon. 

Also Read: This Is How Polkadot(DOT) Price May React After Hitting $50!

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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