Avalanche’s current technical formation is looking very interesting. The highest target of around $140 was confirmed by hitting an ascending triangle and a double top formation. Avalanche price dropped later to $79.22 to confirm the break of resistance and established a new support. As a result, the price fell to the strong support. But how could the price continue in the future? Will we really go up 25% next? Let’s tackle everything in this Avalanche price prediction!
Avalanche Price up soon by +25%?
After the Avalanche price has last corrected to the GoldenPocket and has thus completely corrected the last ABC sequence, the next step could be that the price will rise to the GoldenPocket of the last downward movement (correction). This GoldenPocket is located at around $111. However, we have a resistance in front of the GoldenPocket. This target would be around $100. In fact, this coincides with the 0.5 Fibonacci level and psychological resistance. If we break this level, the price could rally to $111 quite quickly.
Can Avalanche reach $200?
As Avalanche price broke the downtrend line, we also expect it to make a new all-time high. So we also assume that the GoldenPocket will break. The lower GoldenPocket, where we found support most recently, has far more significance as it is higher-level. As this has held, the overall trend (uptrend) is likely to continue. Since the current high is an all-time high, the Avalanche price could make a new all-time high soon.
On the other hand, reaching a price of $200 in the short term looks a bit far off. With the current cryptocurrency market consolidating, AVAX would find it difficult to double in valuations. The entire crypto market should be making new highs for AVAX to be able to reach $200 in such a short timeframe.
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