Is Avalanche AVAX About to Explode? Here’s What You Need to Know

AVAX Avalanche Coin

As the cryptocurrency market experiences a period of volatility, investors are on high alert for potential price explosions. And one coin that is currently in the spotlight is Avalanche AVAX. With recent market movements and a breakout of a key resistance level, many experts are predicting that an AVAX price explosion is on the horizon – making now the perfect time to take action.

In this blog post, we’ll take a closer look at Avalanche AVAX and its recent price action, explore potential bullish and bearish scenarios, and discuss key levels to look out for as an investor.

Breaking Out of Resistance

Currently, Avalanche AVAX is trading within the 4-hourly time frame, and a closer look at the charts reveals some exciting news – it has broken out of a key level of resistance at $37 USD (£29 GBP). This is significant because it suggests a potential trend reversal for AVAX, which has been in a downtrend for the past few weeks.

In fact, AVAX has been consolidating within a bullish pattern and coupled with higher highs and higher lows, indicates a change in momentum for the coin.

Short-Term Predictions

While the signs are positive for Avalanche AVAX, there are still some minor resistance levels to watch out for. These include $40 (£32) and $43.1 (£34). In fact, at the time of writing, AVAX is currently facing resistance at the $40 (£32) level and may experience a pullback before continuing its upward momentum.

In this case, it’s likely that AVAX will retest previous resistance and flip it to support before making its move towards higher prices. So, in terms of short-term predictions, expect AVAX to pullback to around $37 (£29) before breaking above $40 (£32).

Mid to Long-Term View

For those looking for a bigger picture view, let’s take a look at the weekly chart. Here, we can see that AVAX has bottomed out and is now primed for another major move towards the upside. The chart is currently looking bullish, and we can expect AVAX to continue its upward trend.

Mid-Term Target: $60

In the mid-term, the target for AVAX is $60 (£47). This level is a major resistance zone and will be the next challenge for the coin to break through. However, if it successfully surpasses this level, we could see AVAX move towards its previous all-time high of $130 (£103).

Peak Bull Run Target: $330 (£260)

For those looking to hold onto their AVAX for the long haul, our target during the peak bull run is $330 (£260). Of course, this target may change as more information becomes available, but for now, $330 (£260) is a conservative and achievable goal.

Final Thoughts

As always, it’s vital to remember that nothing in this post should be taken as financial advice. Instead, use it as a starting point for your own research and due diligence when making investment decisions.

However, with signs pointing towards a potential Avalanche AVAX price explosion, it’s definitely worth keeping an eye on this coin in the coming days and weeks. With key resistance levels broken and a change in momentum, now could be the time to jump on board before it’s too late.

The content provided on our site is for informational purposes only and not intended as financial advice. It aims to enhance understanding of the cryptocurrency market, but readers should always conduct their own research and consult with a financial professional before making an investment decision. 

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