The AVAX token continues its upward trajectory despite increased market volatility, reflecting sustained investor interest in the Avalanche project. Current trends suggest that AVAX could soon retest its target price of $50. The key question remains: Will Avalanche maintain its gains, or is a significant correction looming?

AVAX Price Eyes $50 Mark

With a 0.96% intraday increase and a trading volume of $2.213 billion, Avalanche's price has climbed back to $45. Over the past week, it has gained 27.71%, while its 30-day performance shows an impressive 72.38% increase.

  • The Relative Strength Index (RSI) on the daily chart indicates that AVAX is approaching overbought levels. This metric, along with the observed price action, suggests the potential for further gains.

  • The 50/200-day EMA formed a Golden Cross on the Avalanche price chart, a bullish signal that often indicates continued price appreciation.

    TradingView: AVAX/USDT

Will AVAX Test $50?

If Avalanche maintains its current bullish momentum, the price could break through the resistance level of $48.25. Sustained positive sentiment might push the token towards an upper resistance level of $57.20.

Conversely, if bears regain control, AVAX could retest its support level at $40. Should bearish sentiment intensify, the price could fall further to the lower support level of $31.50.

What’s Next for Avalanche?

With growing trading activity and technical indicators signaling a bullish trend, AVAX remains under close watch by investors. If the market sentiment stays positive, Avalanche could achieve new highs. However, caution is warranted, as volatility could also lead to unexpected corrections.

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