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The post Cardano Price Prediction For November 21: 43% ADA Rally on Cards Today appeared first on Coinpedia Fintech News
Cardano’s ADA has shown impressive performance, up by 35 percent in the last seven days. The altcoin is currently trading near the $0.77 levels and analysts predict that ADA will soon hit the $1 mark.
According to analyst Josh of Crypto World, Cardano is facing resistance at the 50% Fibonacci retracement level, located between $0.82 and $0.83 on the weekly chart. This is an important level to watch, as it may limit short-term price movement. However, a confirmed breakout above $0.83, supported by strong candle closes, could push the price toward higher targets.
Bullish Breakout Potential
Once Cardano breaks above $0.83, the next major target lies between $1.12 and $1.23, marked by the golden pocket zone. This range is a key price area for further upward movement. The larger trend remains bullish, with Cardano forming higher highs and higher lows, hinting at an ongoing momentum.
Short-Term Price Pattern
ADA is forming a bullish continuation pattern known as a symmetrical or horizontal triangle. This pattern suggests the price could continue rising after breaking out. The price target for this pattern is approximately $0.85, and a larger breakout could see a 30% to 43% gain, with a potential move to $1.18.
However, a confirmed breakout above $0.83 would be necessary to move towards these higher price targets, and any failure to break this resistance could lead to a short-term pullback.
Cardano vs. Bitcoin
Looking at the Cardano/Bitcoin (ADA/BTC) chart, Cardano has recently outperformed Bitcoin, showing strong bullish momentum. The ADA/BTC chart is bouncing off a key support level, which has historically been followed by significant bullish moves. The last time this occurred was in late 2019 and early 2021, leading to major rallies.
Bullish Divergence
A bullish divergence is forming on the ADA/BTC chart, signaling the potential end of a long bear market against Bitcoin. To confirm that Cardano is indeed entering a new bull market, we need to see either a higher low or higher high on the chart.
#Cardano #ADA #Altcoins #CryptoNews

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Shiba Inu (SHIB), the second-largest crypto meme coin is on the radar of whales and institutions amid ongoing price consolidation, signaling a bullish trend.

According to the on-chain analytics firm

IntoTheBlock, SHIB’s large transaction volume has surged by 98% in the past 24 hours, indicating significant participation from whales and institutions.

Whales Activity: Large Transaction Volume Jumps by 98%

This significant increase is a bullish sign for the asset and could support an upcoming rally as it has the potential to attract retail investors and traders.

Additionally, the exchange reserves for SHIB have dropped significantly over the past 24 hours, further reinforcing SHIB’s bullish outlook.

Whales Withdraw 1.67 Trillion Token

According to the on-chain analytics firm Santiment, over 1.67 trillion SHIB worth nearly $41 million has been withdrawn from exchanges in the past 24 hours.

Historically, the last time when SHIB experienced a similar spike in exchange outflow, the meme coin registered a price gain of nearly 62%.

However, this time investors and whales have shown strong participation, as reflected in the transaction volume, potentially driven by the anticipation of an upcoming rally in SHIB, resulting in the withdrawal of trillions of tokens.

Current Price Momentum

Although on-chain metrics point to bullish momentum, SHIB is currently struggling to gain traction. At press time, the meme coin is trading near $0.000024 and has registered a price decline of 3.25% in the past 24 hours.

During the same period, its trading volume dropped by 12.5% indicating lower participation from traders and investors due to FLOKI’s ongoing price consolidation.SHIB Technical

Analysis and Upcoming Levels

According to CoinPedia’s technical analysis, SHIB is forming a descending triangle pattern on the four-hour time frame and is currently on the verge of a breakout.

Based on historical price momentum, if SHIB breaches this pattern and closes a four-hour candle above the $0.000026 level, the meme coin could initially rally by 13% to reach the next resistance level at $0.000030.

Furthermore, if SHIB surpasses this hurdle, there is a strong likelihood it could rally an additional 25%, targeting the $0.000038 level as its second milestone.

As of now, SHIB’s technical indicators including the Relative Strength Index (RSI) and the 200 Exponential Moving Average (EMA), hint at bullish momentum and further suggest the potential upside rally in the coming days.

#shibainu #SHIBA #memecoins #CryptoNews

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Elon Musk and Vivek Ramaswamy recently presented a comprehensive strategy aimed at reducing the federal workforce under the guidance of President-elect Donald Trump.
Their proposal emphasizes a large-scale reduction of federal employees, which they argue will become feasible through the elimination of numerous regulations.
Elon Musk and Vivek Ramaswamy Unveil Plan To Slash US Workforce
In a recent Wall Street Journal, Elon Musk and Vivek Ramaswamy, appointed co-heads of the newly proposed Department of Government Efficiency (D.O.G.E), detailed their plan to streamline the federal workforce.
This ambitious plan proposes the conversion of some federal employees to “Schedule F,” stripping them of traditional job protections. The move will ultimately reduce the size of the federal workforce.
The Wall Street Journal op-ed coincides with Supreme Court decisions that the duo argues give the incoming administration the executive power to make sweeping changes.
The plan as outlined ties directly to the Trump administration’s broader goals of cutting federal spending and reducing governmental bureaucracy.
The Tesla CEO and Ramaswamy suggest that by slashing federal regulations, many federal jobs would naturally become obsolete.
The duo expressed their commitment to the task ahead stating,
“We will serve as outside volunteers, not federal officials or employees. Unlike government commissions or advisory committees, we won’t just write reports or cut ribbons. We’ll cut costs.”
In addition, they mentioned that a collaboration with Trump’s transition team is in progress. This partnership will recruit a group described as “small-government crusaders.” These individuals will collaborate with the White House Office of Management and Budget.
Regulatory Reduction and Its Impact on Federal Employment
Elon Musk and Ramaswamy assert that reducing the number of federal regulations will directly impact the number of federal employees. They argue that fewer regulations will require fewer employees to enforce them. This in turn will lead to reductions in the federal workforce.
The strategy relies heavily on recent Supreme Court rulings that support the president’s authority to rescind regulations that exceed the powers granted by Congress.
Further elaborating on their D.O.G.E strategy, Elon Musk and Ramaswamy referenced two specific Supreme Court cases: West Virginia v. Environmental Protection Agency (2022) and Loper Bright v.
Raimondo (2024). These cases, according to the duo, underscore the limitations on federal regulatory agencies’ powers.
The implementation of Elon Musk and Ramaswamy’s plan will lead to one of the most significant restructurings of the government.
A recent report indicates that Ripple CLO Alderoty’s plea to D.O.G.E. might prompt a thorough investigation into the SEC’s financial activities.
#ElonMusk #VivekRamaswamy #DOGE #CryptoNews

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BONK price action showed a massive breakout from a descending wedge pattern that confined its movements for over nine months.
The currency experienced fluctuating fortunes as it navigated this extensive consolidation period. In recent weeks, however, BONK surged past its former peak levels, establishing new all-time highs.
This breakout was a sharp upward movement, marking a departure from the previous downtrend and resistance levels within the wedge.
The EMA (200-day moving average), showed that after several touches and rejections from this moving average, BONK finally sustained its position.
This move indicated strong buying momentum and a potential shift in market sentiment from bearish to bullish.
The volume bars along the bottom of the chart further validated this surge, with an increase in trading volume coinciding with the breakout points. This alignment suggested increased participation in the rally due to the breakout’s strength.
Given this momentum and the successful breach of the previous resistance-turned-support, the outlook for BONK appears optimistic.
If the memecoin maintains its current trajectory above the critical EMA line, there is a strong possibility for the continuation of this surge.
This promising pattern suggested that BONK could maintain its ascent, reaching higher peaks in the forthcoming months.
BONK Liquidation Heatmap
The liquidation heatmap for BONK in the past week revealed that key liquidity zones were identified around the $0.000045 and $0.00005 price levels. Dense concentrations suggested a rise in trading activity and the placement of many stop-losses and liquidation points.
The heatmap displayed spikes in liquidity, especially near $0.000058, where BONK recently peaked.
This area signified a potential reversal zone as traders who entered at lower levels could look to capitalize on the recent surge by taking profits, thereby increasing selling pressure.
Further analysis indicated that BONK’s price progression gravitated towards these higher liquidity zones. It reflected a common market behavior where the price tends to move towards areas flush with liquidity, likely due to the triggering of placed orders.
Following BONK’s attainment of new ATHs, the chart suggested a possible pullback towards these dense liquidity pools situated lower.
This potential retreat could be a correction phase where BONK gathers momentum before possibly climbing again.
Such movements affirm the cyclical nature of markets where after significant rallies, retracements are often necessary for setting the stage for future runs.
OI-Weighted Funding RatesAdditionally, since the US election day, the BONK OI-Weighted Funding Rate revealed a consistent increase in the funding rates, confirming that long traders have been compensating short traders.
It also reflects a bullish outlook among investors. This trend continued unabated, with noticeable peaks corresponding to significant price surges in BONK’s valuation.
The chart showed a pattern where the funding rates peaked shortly before substantial price corrections. While market sentiment remains fundamentally positive, traders should expect volatility with potential pullbacks following sharp increases.
These corrections likely serve to consolidate gains and eliminate over-leveraged positions, making the subsequent rally healthier and more sustainable.
The volume-weighted funding rate closely tracked these changes, reinforcing the observed trends in market behavior.
With funding rates maintaining above the zero line, it is evident that the market has a robust bullish undercurrent.
Despite the potential for short-term corrections, the prevailing positive funding rate environment provides a strong case for BONK’s continued upward trajectory even after reaching new highs.
Such a scenario indicates that the market could sustain its rally, buoyed by enduring trader confidence and ongoing investment inflow.

#BONK #WIF #Memecoins #CryptoNews

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VeChain is currently trading at the $0.032 mark on Wednesday and is up nearly 1.1% in the day’s trade. VET has soared 51% in the last two weeks, delivering stellar returns to investors.
Those who took an entry position after Trump’s victory have made good returns in a short period. The cryptocurrency is receiving bullish momentum as its 24-hour trading volume has topped $143 million.
The inflow of funds in VET remains high as its market cap breached the $2.6 billion mark on Wednesday. The supply chain-based token is attracting buying sentiments in November, driving its price much higher in the indices. This puts the token in the ‘buy’ category as investments could reap the rewards.
VeChain: VET Projected to Deliver Big Returns in Q1 of 2025
The latest and revised price prediction from leading on-chain metrics firm CoinCodex has painted a bullish picture for VeChain. According to the price prediction, VET is estimated to double in price in February 2025. The forecast indicates that the altcoin will surge much higher in price in March next year.
Below is the breakup of the VeChain price prediction for 2025:
January 2025: Price target $0.05. That’s an upside swing of 56% from its current price of $0.032.
February 2025: Price target $0.07. An upside swing of 137%.
March 2025: Price target $0.12. A massive surge of 273%.
“In 2025, VeChain is forecasted to trade in a price channel between $0.03619 and $0.121037. The most bullish month for VET could be March, when the currency is anticipated to trade 273.04% higher than today,” read the forecast.
Therefore, an investment in VeChain now could fetch stellar returns in Q1 of 2025. If VET surges 273% by March 2025, an investment of $1,000 made today could turn into $3,730 by March next year.
Nonetheless, the cryptocurrency market is volatile and any global event could pull the prices down. It is advised to do thorough research before investing in VET.
#VET #Vechain #Altcoin #CryptoNews

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Solana Must Meet These Three Requirements for SOL Price to Keep Outperforming Ethereum in 2025, Posted by TradingView.
There is higher optimism around Solana as it continues to gain traction. SOL is approaching its all-time high of $260, set in 2021. The consensus is that it could soon reach new heights, as noted by a post made by TradingView.
TradingView suggests that with the right conditions, Solana might not only reclaim its previous record but also establish a more dominant position in the crypto landscape by 2025.
Technical Performance as a Payment ProcessorSolana’s value proposition hinges on its technical capabilities, particularly as a payment processor. The blockchain is known for its transaction speed, handling around 50,000 transactions per second.
This positions Solana as a formidable competitor not only to Ethereum, which manages between 15 to 45 transactions per second, but also to traditional payment systems like Visa.
Such efficiency allows Solana to support high transaction volumes in a decentralized manner, enhancing its appeal to users and developers alike.
Infrastructure for Project Development
Another critical factor in Solana’s performance is its capacity to support a diverse range of projects. It has become a launchpad for various tokens, including meme coins inspired by popular culture and public figures.
As Solana continues to attract new projects, its infrastructure is proving resilient and adaptable, accommodating the influx of innovative and often niche tokens.
This versatility reinforces Solana’s reputation as a leading blockchain for developers looking to create and deploy their projects.
Investment Appeal and Future ProspectsThe Solana ecosystem continues to evolve as 2025 approaches. Market observers note growing institutional interest, including discussions around potential ETF developments.
The platform’s technical performance and developer activity remain key factors in its market position relative to other blockchain networks.
The broader digital asset space faces ongoing regulatory developments that could influence Solana’s trajectory. Industry stakeholders maintain engagement with policymakers as the regulatory framework continues to take shape.
The experts noted that Solana’s market performance will likely depend on multiple factors, including continued technical improvements, ecosystem growth, and overall market conditions.
The platform’s ability to scale while maintaining efficiency will be important for both developers and investors participating in its ecosystem.
#Solana #SOL #Altcoins #Cryptonews

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The price of XRP has been circling $1.10 for the last four days, indicating that it has entered an apparent stagnation phase. There are concerns about whether the bullish momentum has run its course or if this is a brief consolidation before another move, given the lack of movement that followed a notable rally earlier in the month.
The volume has sharply decreased following a spike in buying pressure during the most recent rally. This drop could indicate a lack of demand since it implies that buyers are leaving the market. XRP may have trouble holding onto its current level if fewer players push the price higher.
XRP could return to lower support levels if this keeps up with $0.95 and $0.85 emerging as crucial areas for buyers to keep an eye on. Caution is also advised by the RSI (Relative Strength Index).
Although it is still in the overbought zone, which suggests that there was previously significant buying momentum, the lack of follow-through may cause a retracement as profit-taking increases.
Resuming the psychological level of $1.00 is one possible scenario that might serve as support if put to the test. But a decline below this mark could increase selling pressure and drive XRP lower.
Traders should now closely monitor market sentiment and volume profiles. The likelihood of a price drop rises if volume does not increase and buyers do not return to the market.
On the other hand, an abrupt increase in volume might rekindle bullish sentiment and indicate that XRP’s sleep could be a sign of an impending breakout.
Dogecoin’s pivotal moment
A possible double top pattern is forming on Dogecoin’s daily chart, suggesting that the cryptocurrency may be approaching a historic turning point.
Two separate peaks at comparable price levels indicate a bearish reversal pattern that may portend problems for the meme-based cryptocurrency in the future.
DOGE’s price is currently trading close to the $0.40 mark, seemingly unable to sustain its upward momentum.
Given the second peak of the double top formation, this hesitancy raises the possibility that the asset is encountering strong resistance. The probability of a reversal rises if the price is unable to rise above this resistance level.

#Dogecoin #PEPE #memecoins #Cryptonews

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Saylor made the bold prediction that Bitcoin’s price may reach $13 million in the next 20 years.Bitcoin has not only surpassed its previous highs, but it has also held strongly in this bullish cycle.
Author Robert Kiyosaki of the best-selling “Rich Dad Poor Dad” book has given his stamp of approval to MicroStrategy cofounder Michael Saylor’s $13 million Bitcoin forecast. In his opinion, Saylor is correct.
According to Kiyosaki’s latest social media post, Saylor is quite smart. The price of Bitcoin hit $94,040 on November 19th, according to statistics compiled by CMC.
Saylor made the bold prediction that Bitcoin’s price may reach $13 million in the next 20 years during his interview with CNBC in September. If Bitcoin’s price goes above $100,000, Kiyosaki has warned Bitcoin bulls they would be “slaughtered.” He recently said that he will cease purchasing Bitcoin at that point. This seems to be contradicted by his most recent social media post.
Kiyosaki mentioned:
“If Saylor is on target….which I think he is…. that means for $9,000 today….you buy .01 Bitcoin today…you are a millionaire tomorrow.”
Banking on Bitcoin Surge
Instead of encouraging his followers to go to graduate school, the financial analyst mocked the concept and suggested they invest in Bitcoin. Avoiding a $50,000 student loan debt is preferable, no doubt about it, in order to get a weak MBA. Instead, get Bitcoin today, he wrote.
Despite Kiyosaki’s claim that 0.01 Bitcoin would cost $9,000, some social media critics pointed out that his calculation was incorrect, since 0.01 multiplied by $90,000 is $900.
Bitcoin has not only surpassed its previous highs, but it has also held strongly, further solidifying its place in the current bullish cycle. The market is filled with optimism as Bitcoin once again demonstrates its resilience and capacity for growth, reaching this milestone.
#RobertKiyosaki #Predictionexpert #BTC #CryptoNews

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Cryptocurrency Prices Today: Bitcoin touched a new all-time high of $97K, while major altcoins saw slight increase from the last day. Meme coins showed mixed trends; however, FLOKI emerged as the top gainer with a 16% jump in the last 24 hours.
The global cryptocurrency market cap reached $3.16 trillion as prices surged today. Trading volume remained steady at $184 billion in the past 24 hours. Here’s an overview of the top crypto by market cap and their performance on November 21.
Cryptocurrency Prices Today: BTC Hits New ATHBitcoin soared to a new all-time high, reaching $96K. It maintained its recent strength, breaking the $87K-$93K range. Meanwhile, major altcoins like XRP, ETH, and SOL showed little movement in the last 24 hours, reflecting a mixed market sentiment.
FLOKI became the top performer among meme coins with a 16% surge. However, other meme coins showed declines, struggling to keep up in the past day.
Bitcoin Price TodayBitcoin (BTC) is trading near $97,000 reflecting a 5% increase from the previous day. Its 24-hour low and high are $91,981 and $97,000, respectively. The market cap stands at $1.91 trillion, with a 24-hour trading volume of over $89 billion and a dominance of 60.63%.
According to Sosovalue data, BTC ETFs recorded an inflow of nearly $750 million on Wednesday. BlackRock (IBIT) saw $627.7 million in inflow.
Ethereum Price Today: Ethereum (ETH) is trading at $3,072, marking a 1% decline over the past 24 hours. Its 24-hour low and high are $3,032 and $3,159, respectively. ETH’s market cap stands at $370 billion, with a 24-hour trading volume of $30 billion and a dominance of 11.88%.
ETH ETFs saw an outflow of $47 million, with the market still awaiting updates from BlackRock and Grayscale. Despite the minor dip, ETH continues to hold a significant share of the market, maintaining its position as the second-largest cryptocurrency by market capitalization.
Solana Price Today: Solana (SOL) is currently trading at $233.90, reflecting a 1% increase in the last 24 hours. Its 24-hour low and high are $230.34 and $242.10, respectively. SOL has a market cap of $111.2 billion, making it the 4th largest cryptocurrency by market capitalization. The 24-hour trading volume stands at $6.41 billion, with a market dominance of 3.57%.
XRP Price TodayXRP price is currently trading at $1.09, reflecting a 2% increase from the last 24 hours. Its 24-hour low and high are $1.0637 and $1.146, respectively. The 24-hour trading volume stands at $6.54 billion. XRP is the 6th largest cryptocurrency by market cap, with a market dominance of 2%.
Ripple-partner Archax added State Street, Fidelity International and Legal & General Investment Management (LGIM) funds to tokenized offerings. The tokenized funds will initially be available on XRP Ledger (XRPL), Hedera and Arbitrum blockchains.
Meme Crypto Prices Today
Dogecoin (DOGE) is down by 1% and trading at $0.3768, with a 24-hour low and high of $0.3665 and $0.3995, respectively. It has a market cap of $55.47 billion and a 24-hour trading volume of $8.06 billion. Dogecoin has surged by 162% in the last week, making it the 7th largest cryptocurrency by market cap.
Similarly, Shiba Inu (SHIB) is down by 2% in the last 24 hours, currently trading at $0.00002372. Its 24-hour low and high are $0.0000231 and $0.00002477, respectively. SHIB has a market cap of $13.93 billion and a 24-hour trading volume of $1.14 billion. The coin’s performance remains stable despite the slight dip.
Top meme coins have also shown dips, with PEPE, BONK, and WIF down by 2% to 14%. However, FLOKI is one of the exceptions, up by 16%, continuing its strong performance in the market.
Top Cryptocurrency Gainers Prices Today
FLOKI Price Today: FLOKI has seen a 16% increase in the last 24 hours, currently trading at $0.0002775. Its 24-hour low and high are $0.0002268 and $0.0002879, respectively. The coin’s 24-hour trading volume stands at $1.21 billion, leading cryptocurrency prices today. FLOKI has surged by 19% over the past week, continuing its strong upward momentum in the market.
Raydium Price Today: Raydium (RAY) is up by 10% in the last 24 hours, currently trading at $5.70. Its 24-hour low and high are $5.202 and $5.827, respectively. RAY has a market cap of $1.66 billion and a 24-hour trading volume of $127 million, reflecting strong trading activity in the past day.
Bittensor Price Today: Bittensor (TAO) is currently trading at $489, up by 6% over the last 24 hours. Its 24-hour low and high are $451 and $503, respectively. TAO has a market cap of $3.6 billion, reflecting its strong performance in the market.
Top Cryptocurrency Losers Prices TodayGoatseus Maximus Price Today
Goatseus Maximus (GOAT) is down by 21% in the last 24 hours, currently trading at $0.9171. Its 24-hour low and high are $0.8605 and $1.174, respectively. The coin has a 24-hour trading volume of $367 million, reflecting the significant volatility in the past day.
Peanut the Squirrel Price Today: Peanut the Squirrel (PNUT) is down by 17% in the last 24 hours, currently trading at $1.133. Its 24-hour low and high are $1.276 and $1.647, respectively, showing a notable decline in its price during this period.
BONK Price Today: BONK is down by 13%, currently trading at $0.00004864. Its 24-hour low and high are $0.00004679 and $0.00005915, respectively. The coin has a market cap of $3.63 billion and a 24-hour trading volume of $2.26 billion.
Besides, BTC and ETH hourly time frame charts show bullish momentum, with both coins up by 2%, sparking further bullish movement in cryptocurrency prices today. The overall trend indicates a massive positive sentiment in the cryptocurrency market, driving optimism for a continued surge in prices today.
#Cryptopricetoday #cryptomarket #cryptocurrecy #CryptoNews

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The Cardano price was stuck within an extremely sluggish range, being unimpacted by the growing market sentiments.
However, the latest price action of over 13% since the early trading hours suggests the bulls have gained momentum, which may keep the rally elevated.
The recent change in technicals suggests the market participants remain uncertain about the next price action. Ever since the crypto markets broke out in the first week of the month, the active address count surged from around 23.69K to as high as 88.2K within a week.
Unfortunately, the levels dropped extensively, failing to regain the previous highs and forming consecutive lower highs and lows.
While the market participants appear to remain indecisive, the whales seem to be confident since the start of Q4, 2024.
As a result, the wallets holding over $10 million in ADA have been constantly accumulating ADA over the past month, as suggested by a popular analyst, Ali.
On the other hand, the volume of large Cardano transactions has increased by close to 300% in the past two weeks, reaching $22.6 billion.
With the growing market sentiments, can the bulls push the price beyond $1 this month as the bears continue to remain largely vigilant?
The weekly chart of ADA suggests the price has just risen above the bearish influence as the Ichikomu cloud displays an end of the selling pressure.
Therefore, the price is believed to breach the resistance zone between $0.766 and $0.87, but the DMI raises some concerns. After the bullish crossover, the +Di has initiated a bearish divergence, suggesting weakness of the bulls.
Therefore, the Cardano price may continue to trade higher until and unless it sticks within the resistance zone.
Moreover, a weekly close above these levels may trigger a fresh bullish wave, which could elevate the levels beyond $1. Collectively, both Bitcoin & Cardano are sitting comfortably above the parabolic line, and this is the zone where the token’s volatility increases with explosive gains.
Besides, Cardano’s Total Value Locked (TVL) breaks ATH after Charles Hoskinson becomes the icon of hope for crypto regulations and Bitcoin DeFi.
#Cardano #ADA #Altcoinseason2024 #CryptoNews

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Avalanche price has wavered this week after finding a strong resistance at $37.76, its highest level in November. Some crypto analysts believe that the rally is just getting started, with some expecting it to jump to $200 in this bull run.
Crypto Analyst Is Extremely Bullish On Avalanche Price
Analysts are optimistic that the AVAX price could surge, cross the year-to-date high of $65, and hit $130. If this prediction is correct, it means that the coin could rise by 271% from the current level.
In an X post, an analyst going by the name of Grronk, predicted that the coin would surge to $130. He also expects it to jump to $200 in the best-case scenario, implying a 417% surge. He cited its performance in the last cycle and its ongoing bullish momentum.
In another post, an analyst known as Beastlorion noted that the coin would jump to $300, citing its positive regression channel. He believes that the coin is bouncing above the lower side of the channel and that it will soar to $300, which is its upper side.
AVAX Price Has Formed A Golden Cross PatternThe daily chart shows that the AVAX price has some solid technicals that could push its price significantly higher in the coming months.
It has formed an inverse head and shoulders pattern, which is a popular bullish reversal sign. This pattern is characterized by a head, in this case at $17.32, its lowest point in August, and two shoulders.
Avalanche has also formed a golden cross pattern as the 200-day and 50-day Exponential Moving Averages (EMA) have crossed each other.
Historically, this crossover has often lead to major gains. For example, AVAX price formed the cross in November, leading to a 190% increase to the year-to-date high of $190.
Avalanche has also formed a bullish pennant pattern. Therefore, a clear break above the upper side of this pennant at $37.76 will boost the likelihood of the coin jumping to $41.88, its highest level on May 2022.
That move will be followed by the next resistance at $50, which is both a psychological level and its highest level in December last year.
On the flip side, a drop below the key support at $30.75, its highest swing in September this year will invalidate the bullish AVAX price forecast.
#Avalanche #AVAX #Altcoins #CryptoNews