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Cryptopolitan 2021-09-25 02:21:28

Avalanche price analysis: AVAX/USD to spike to $80 over the weekend

TL;DR Breakdown Avalanche price analysis is bullish for today.Avax is currently trading at $69.8The bulls are back in control of AVAX once again. The price analysis for the Avalanche is bullish, with the market establishing a new higher low and beginning to advance back towards its all-time high. As a result, we expect AVAX/USD to rise even more during the next 24 hours, possibly breaching the $75 previous all-time high. The last 2 days’ price action shows no signs of bearish continuation, which usually happens when the price moves below the 50EMA, breaking it consecutively on the four-hour, and daily price chart charts. This fact helps reinforce our belief that AVAX/USD will continue moving higher during tonight. Avalanche price movement in the last 24 hours: Avalanche is set to break the minor resistance AVX/USD was relatively range-bound in the $74.55 – $78.67 region, with a trading volume of $2.1 billion. The market eventually tested the $80 support level on June 13th and was rejected, leading to a drop. The price fell below the 50EMA and until it met resistance at $76.99, where it found buyers that managed to recoup most of the losses before moving higher again. AVAX/USD then retraced upwards yesterday but failed to break through the downward sloping trendline (marked in red). It is currently trading between this downward trending support line and horizontal resistance level at $78.05. As mentioned above, we are ve...