Price Analysis

Avalanche(AVAX) Price Slices Through the Crucial Resistance Levels, $110 Appears to be Imminent!

Written by: Sahana Vibhute

Written by right arrow

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.

  • author facebook
  • author twitter
  • linkedin

Feb 16, 2022

news-image
Highlights

    Avalanche price which was rejected a couple of times just below $95, spiked more than 14% to test these levels in a short while

    Overcoming all the odds, the AVAX price is all set to hit a 3-digit target very soon that may range beyond $110 in the upcoming 2 to 3 days

After going through multiple ups and downs, the Avalanche price has identified a trend line along with a key level. The price quickly broke the trend line and attempted to break through the key levels but quickly got rejected. However, the AVAX price may still maintain a significant uptrend and utilize all its resources to hit the $100 milestone at the earliest. 

Trending within some crucial levels, the asset may find its stong support at the current resistance that it flipped some moments before. And eventually rise high to slice through this ascending pattern that may validate a notable uptrend. On the other hand, the asset has to yet test the apex of the triangle and hence a healthy consolidation may be expected in the next 24 hours. 

The AVAX price surpassed an important resistance levels at $92 and moved ahead to test one of the crucial resistance at $97.36. No doubt the asset faced a minor rejection, but still hovers around the same price range at the press time. On the other hand, the asset successfully breaks the descending trend line in the early trading hours and continues to trade above the trend line.

 Therefore a notable bullish trend can be expected in the next couple of hours. But as the asset has to reach the apex of the ascending triangle, a notable consolidation may be imminent. Conversely, even if the bears become active overnight, the Avalanche price could trend within the triangle itself and may not plunge below these levels. Therefore igniting another flip hitting these levels and rebounding firmly. Yet a 3-digit target beyond $100 appears to be imminent. 

Show More

Was this writing helpful?

dislikeimage No myImage Yes

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.

Related Articles

Back to top button