Avalanche prices already made a breakout previously. However, this move turned into a fake breakout, which is why AVAX prices were seen recently in freefall. As the price is once again below a trendline heading towards support, a breakout must occur soon. But will the breakout be bearish or bullish? We at CryptoTicker take a closer look at Avalanche crypto in this AVAX price prediction article.
Is Avalanche Price About To BOOM?
The Avalanche price has fallen below the trend line again in the past few weeks. The price currently has two supports nearby. At $64.30 and $54.40. We would view the $64.30 to $54.40 area as a support area and therefore expect the price to drop into the area later this week. With the trendline heading towards support, the price will soon have to decide where to go. In the week starting June 6th, the price will decide at the latest, as there is a crossing of the trendline and the $54.40 support.
In the short term, we expect the Avalanche rate to fall to $54.40. After that, however, there could already be a breakout, so the price breaks out in mid-May. Generally speaking, the Avalanche price could break out at any time since it is in the last third of the formation. It is not yet possible to say where the price will break out. One needs to watch out for a break of the trendline or the $54.40 support.
AVAX Price Prediction – Where will AVAX price reach?
Should Avalanche price break out in a bearish direction, we expect the price to fall by around 50%. The price could drop to the next support. This is located at $23.72 and $39.25. We expect enough buyers in this area so that the price can calm down. If Avalanche price breaks bullish, we expect a rally to around $155. This is where the current all-time high and target of the triangle is located, so we assume that value.
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