- Avalanche price prediction is bullish for today.
- The longer-term outlook for Avalanche was extremely bullish.
- AVAX/USD is currently trading at $71.01.
Avalanche Price Prediction: General price overview
The longer-term outlook for Avalanche was extremely bullish. The breakout at $70.4 heavily increased volatility, bringing about significant buy pressure that continues to push the market higher. The breakout at $62.4 also established a new support level for AVAX/USD, which is expected to hold in the upcoming months. Finally, the lower time frames are lagging, with MACD already breaking out.
The daily AVAX/USD chart is illustrated below and currently shows a clear bullish picture. Earlier this week, a higher low was established at $73.6, bringing prices close to the breakout point at $74. This points to further upward movement in the days and weeks ahead for Avalanche and is in line with our earlier prediction. The chart illustrates a bullish MACD crossover which suggests that the market is currently preparing another rally toward $80 or even higher if momentum stays intact. The RSI indicator has also completed a bullish crossover signaling further upward movement.
Most of the digital currencies are trading bearishly as indicated by the cryptocurrency heatmap. Bitcoin and Ethereum also trade in the same negative direction recording losses of 1% and 3% respectively.
Avalanche price movement in the last 24 hours: Avalanche sets higher low at $62.5
Yesterday, AVAX/USD established a new low at $62.5, marking the beginning of an upwards trend that continues today. After setting this new low, Avalanche has pushed higher by more than 20 percent in just 12 hours to establish resistance at $71.48. The resistance will hold based on a bullish flag pattern formation. However, should AVAX/USD break above $73.4, then high volatility is likely to follow, with the market seeking new highs this week.
AVAX/USD 4-hour chart: AVAX set to rally today?
The price of the Avalanche has established a foundation above $65 from which to rise later today on the 4-hour chart. More signs are pointing to a bullish breakout of the highlighted flag pattern. For one, there is currently heavy buying pressure on the AVAX/USD 4-hour chart.
On the 4-hour chart, a bullish flag pattern has been established testing resistance at $71.48. The coin had archived a lower high of $76.30 the previous day. We anticipate AVAX/USD to rise further as the bull trend resumes since it is powerful enough to push the market above $86.
Avalanche Price Prediction: Conclusion
The present Avalanche pricing prediction is bullish, with bulls expected to gain even more momentum and AVAX’s next higher low anticipated. As a result, we anticipate that AVAX/USD will rise again later this week, peaking at over $80.