Price Analysis

AVAX Price & SafeMoon Price Primed For A 30% Upsurge Soon

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Highlights

    Avalanche(AVAX) price is experiencing a substantial drop in the price and the trading volume, yet a notable rebound could be on the cards

    Safemoon price on the contrary has initiated with a substantial recovery, yet gets rejected a couple of times at $0.000002400

The crypto space currently is falling into a bearish trap as most of the cryptocurrencies is declining in their prices. Bitcoin price after smashing $50K quickly initiated shedding its gains and trades below $47,000 at the press time. Also, the top 10 cryptocurrencies are plunging on an average of 5% compared to that of the previous day’s trade. 

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Avalanche(AVAX) Price Drained Nearly 50%

Avalanche price remained within $5 since its inception until a major boost kicked off the rally to hit $59.94. Since then the price kept declining and traded below $10 marking the bottom of the rally. However, the AVAX price went parabolic, aiming to smash the current ATH, but yet again slipped before reaching the target. 

avaxprice

AVAX price fell into a descending channel as it attempted to break the highs, yet appears to be self-assured of a substantial rebound. However, the price is very close to the immediate resistance levels and attaining these levels could possibly allow the price to form new higher highs. 

Technical Specifications

  • Resistance levels are at $52.17
  • Support levels are at $40.66
  • Indicators point out towards a buy signal

Also Read: Ethereum Price Prediction, ETH Can Hit $15000 In 6 Months, Yet Buying Opportunity Underway

SafeMoon Price Primed For a Massive Upswing

Safemoon price had an impressive debut within the crypto space by hitting an all-time high within a few days of its inception. Yet, the downtrend was pretty strong which kept the ATH distinct from the current levels. The initial target of the asset is to kill a zero before propelling towards its highs. 

safemoonprice

The price after multiple rejections at $0.000002400, the price broke through the resistance levels and smashed $0.000002700 with a massive 30% jump. However, the uptrend is expected to continue until it achieves its initial target at $0.00000300. The increased trading volume of about 76.54% also manifests the increased volatility that could provide a notable push for the Safemoon price. 

Technical Specifications

  • Resistance levels are at $0.000002835
  • Support levels are at $0.000001515
  • Indicators point out towards a buy signal

Also Read: Cardano(ADA) Price Losing The Grip, A Clear Path Close To $2.3 Is Visible

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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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