Price Analysis

Avalanche(AVAX) is Getting Ready to Smash the $180 Target, But Will it Be Before EOY?

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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Dec 24, 2021

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Highlights

    Avalanche has just reversed the bearish trend and attempting to go parabolic to hit the immediate highs very soon

    The AVAX price currently swinging with crucial levels and hence a breakout may form a new ATH beyond $150

Many altcoins are gearing up as the most dominant crypto is making some notable moves. As Bitcoin price extended its consolidation zone from $48,000 to $50,000, the top 10 crypto assets also tend to follow the crypto. AVAX price, which was swinging within a narrow range, appears to have geared up to a notable extent. 

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The recent jump with the AVAX price has sliced through the neckline of the pattern which aims for another 50% jump in the near future. If the asset rallies as per the pattern, then the price could hit $180 as per the popular analyst.

As mentioned by the analyst in the chart, the AVAX price after trending within an inverted head & shoulder pattern has pierced through the neckline at $117. No doubt the asset is retesting the neckline yet again but ultimately a rebound is pre-programmed. Currently, the asset is testing one of the crucial resistance levels around $127 and experienced a slight pullback. Yet the buying volume appears to have been mounting up and hence a notable jump appears to be in place.   

Collectively, Avalanche after the recent listing on Kraken and the building of DeFi on the platform may boost the price to its next level. Eventually, the Avalanche price is all set to undergo a significant uptrend while $150 appears an achievable target. Yet higher levels may be still possible with an extended AVAX bull run.

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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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