AVAX Price Faces Challenges: Can the $60 Threshold Become a Reality?
The price of Avalanche (AVAX) is facing several challenges in reaching the $60 threshold, although there have been positive signs recently. Analyst Rekt Capital notes that if AVAX maintains above the important support level of $47.81 in December, the possibility of progressing to $60 is feasible. However, pressure from resistance zones could slow growth in the short term.
Additionally, expectations from events such as the Game Developers Conference (GDC) could boost AVAX's price. Avalanche has garnered significant interest from the community and has the potential to maintain a competitive position in the blockchain space, particularly in the Web3 gaming sector. The growth of new addresses and total value locked (TVL) on the network also indicates considerable interest from investors.
However, the risk of a correction remains, with technical indicators suggesting that AVAX could fall to $47.81 if selling pressure increases. Therefore, in the short term, the ability to reach $60 will depend on maintaining support levels and the overall market situation.