Avalanche (AVAX) price forecast: can it reach $70?
Avalanche (AVAX) prices are up 21.93% over the past seven days.
Despite the recent spike, the RSI is still healthy and could point to further gains.
The number of holders who are currently in profit is 75%. Historical data suggests this is a turning point for #AVAX .
#Avalanche (AVAX) price forecast: it could reach $BTC The price of Avalanche (AVAX) has risen significantly over the past week, accumulating a 21.93% gain. Despite the recent surge, the Relative Strength Index (RSI) remains healthy, suggesting that AVAX could continue to rise.
Currently, 75% of AVAX holders are profitable. Historical data shows that this level has often been an important turning point for AVAX, indicating that the asset may be at a tipping point in its future performance.
In recent days, AVAX's seven-day Relative Strength Index (RSI) has declined markedly from 75 to 69. Despite this drop, its price has surprisingly risen from $40 to $61 in one week.
RSI is a momentum oscillator for assessing the speed and magnitude of directional price movements. RSI operates on a scale of 0 to 100, with values above 70 usually indicating overbought, indicating an outperformance of real assets, while values below 30 indicate oversold and may be undervalued.
AVAX RSI 7D. AVAX RSI 7D and prices. Source: santimento.
The decline in RSI and the marked increase in prices suggest that the impulse to buy AVAX has somewhat weakened while market prices have started to rise. This scenario could be due to investor confidence or the perceived intrinsic value of AVAX.
The RSI index is at 69, having almost entered the overbought zone. However, the RSI is in a relatively healthy range and is neither overvalued nor undervalued.
75% of AVAX holders, or 5.
AVAX price forecast: back up to $ 70.
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