Bitcoin

Resistance

Avalanche

<img width="1200" height="681" src="https://coingape.com/wp-content/uploads/2023/11/ghS8rU2f-e1699795980396.png" class="attachment-full size-full wp-post-image" alt="avax price" decoding="async" style="float:right; margin:0 0 10px 10px;">
AVAX Price Prediction: Under a bearish flag for the most part of 2023, the AVAX coin price brings a banger comeback. Rising more than 40% in the last three days, Avalanche performs exceptionally well in the altcoins sector. Ranking amongst the top gainers this week, the crypto continues to head higher, aiming to reclaim the $20 mark. So, will the altcoin rally continue for AVAX to surpass $20 or a pullback is imminent? 
Also Read: <a href="https://coingape.com/blog/when-is-the-next-bitcoin-halving-date/">Bitcoin Halving: When Is The Next Bitcoin Halving Date?</a> 
<h2 id="b-is-avax-heading-to-20-b">Is AVAX Heading to $20?</h2> 
<ul> 
 <li style="font-weight: 400;" aria-level="1">A high supply zone at $21.6 hints the Avalanche price may tumble 10% before finding significant support&nbsp;</li> 
 <li style="font-weight: 400;" aria-level="1">A potential breakout from $21.6 will make a new higher AVAX price one of the key traits of the bullish trend.</li> 
 <li style="font-weight: 400;" aria-level="1">The intraday trading volume in Avalanche coin is $584.2 Million, indicating a 341% gain.</li> 
</ul> 
<img decoding="async" class="alignnone" src="https://s3.tradingview.com/snapshots/g/ghS8rU2f.png" alt="AVAX price Prediction" width="1946" height="1105">Source- Tradingview 
Maintaining a larger trend of lower high formation, the <a href="https://coingape.com/price/avalanche/">Avalanche coin price action</a> formed a falling wedge in the daily chart. Dropping under the psychological mark of $10, the AVAX price regained bullish momentum after testing the $8.6 mark. 
<blockquote>
 With the overall market recovery supporting the bull run in altcoins, the AVAX price has given a return of 40% in the last 3 days. Furthermore, the linear uptrend concludes the lower high formation and fractures the overhead resistance trendline.&nbsp;
</blockquote> 
Giving a bullish breakout of the <a href="https://coingape.com/education/falling-wedge-pattern-what-to-do-if-it-appears-on-a-crypto-chart/">falling wedge pattern</a>, the price action reflects a pivotal moment of trend reversal. Moreover, the recent hike in the intraday trading volumes supports the bull run and reflects a huge underlying demand.&nbsp; 
Currently trading at $18.50, the AVAX price forms a bullish engulfing candlestick with an intraday growth of 10.28%. On an optimistic note, the increasing demand can fuel the bull run beyond the $20 mark. Medium-term holders can find the Avalanche token price reaching the $30 mark. 
<h2 id="strong-three-white-soldiers-offer-dip-opportunity-strong">Three White Soldiers Offer Dip Opportunity</h2> 
The sudden rise in bullish momentum helped boost the price of AVAX by 12 in the last 24 hours, making a triple white soldiers pattern. However, a potential pullback to retest the broken trendline is possible. Supporting the retest thesis, a pullback to the second candle’s low is a generally normal scenario in the triple white soldier pattern.&nbsp; 
If the overall market scenario remains bullish, this retest could offer a pullback opportunity before continuing the bullish trajectory. 
<ul> 
 <li style="font-weight: 400;" aria-level="1">Exponential Moving Average: The bullish influence on the crucial <a href="https://coingape.com/education/exponential-moving-average-how-to-leverage-it-in-crypto-market/">EMAs</a> teases a golden crossover event.</li> 
 <li style="font-weight: 400;" aria-level="1">Relative Strength Index: The daily <a href="https://coingape.com/glossary/rsi-relative-strength-index/">RSI</a> slope steadily progresses into the bullish overbought territory, indicating a strong demand pressure.</li> 
</ul> 
The post <a rel="nofollow" href="https://coingape.com/markets/avalanche-price-prediction-hints-30-target/">Avalanche Price Prediction Hints $30 Target As Buyers Clear 500-Day Resistance</a> appeared first on <a rel="nofollow" href="https://coingape.com">CoinGape</a>.

Avalanche Price Prediction Hints $30 Target As Buyers Clear 500-Day Resistance

Table of Contents

Coingape News Media

Other articles published on Nov 12, 2023

DraftKings Stock: Vertical Rally In DKNG Stock; What Next?

Shiba Inu Army Keeps Burning Despite Price Dip, 374M SHIB Destroyed

This Is When the Long-Awaited Bitcoin (BTC) Mega Rally Will Start

DWF Labs and Polytrade Finance set to transform RWA market

Shytoshi Kusama Signals SHIB's Readiness for Bull Market

Exploring Nexo (NEXO): An All-in-One Leading Crypto Platform

Join our free newsletter for daily crypto updates!