Story Highlights
Avalanche price retests the $45 mark, with hopes of reaching $50.
EMA 50/200 daily line records a golden cross in the daily timeframe, highlighting higher targets.
This month, AVAX price surged over 70%.
Despite increased price volatility, AVAX token maintains a bullish price trend. This indicates that investor interest in this cryptocurrency project has waned. Additionally, this week the altcoin is expected to retest its target price of $50.
Will Avalanche's price maintain its upward trend and continue to rise? Or will it experience a strong bearish correction in the near future? Find out the short-term outlook for Avalanche (AVAX) cryptocurrency in just a few minutes.
AVAX price retests the $50 mark!
Avalanche stock price increased by 0.96% within 24 hours, with a trading volume of $2.213 billion, returning to the $45 mark. Furthermore, the stock has risen by 27.71% in the past 7 days and 72.38% in the past 30 days.
The Relative Strength Index (RSI) successfully retested its overbought range in the daily timeframe. Additionally, the altcoin may continue to rise this week as its average trend line shows similar price movement.
EMA 50/200 day moving average recorded a golden cross in Avalanche price chart. This suggests that the altcoin may continue to appreciate in value in the near future.
Will AVAX price reach $50?
If the market maintains its bullish momentum, Avalanche price will be ready to test its resistance level of $48.25. Moreover, if positive impacts persist, the altcoin may move towards its upper resistance level of $57.20.
On the other hand, if bears regain control, AVAX token will retest its support level of $40. Additionally, if bearish sentiment intensifies, it may drop to a lower support level of $31.50.