Story Highlights
- Avalanche price retests the $45 key level, with the potential to reach $50.
- EMA 50/200 daily lines record a golden cross within the daily timeframe, highlighting higher targets.
- AVAX price has surged over 70% this month.
Despite increased price volatility, the AVAX token maintains a bullish price trend. This indicates that investor interest in this cryptocurrency project has not waned. Additionally, the Altcoin is expected to retest its $50 target price this week.
Will Avalanche's price maintain its uptrend and continue to rise? Or will it experience a strong bearish correction in the coming period? You can uncover the short-term outlook for the Avalanche (AVAX) cryptocurrency token in just a few minutes.
AVAX Price Retests the $50 Key Level!
Avalanche's price has risen 0.96% in the last 24 hours, with a trading volume of $2.213 billion, returning to the $45 key level. Additionally, the stock has risen 27.71% in the past 7 days and 72.38% in the past 30 days.
The Relative Strength Index (RSI) has successfully retested its overbought range on the daily timeframe. Additionally, as its moving average trend line has recorded a similar price trend, the Altcoin is likely to continue its upward momentum this week.
The EMA 50/200 daily moving averages have recorded a golden cross on the Avalanche price chart. This suggests that the Altcoin may continue to appreciate in value in the coming period.
Will AVAX Price Reach $50?
If the market maintains its bullish momentum, Avalanche's price will be poised to test its resistance level of $48.25. Furthermore, if the positive sentiment persists, the Altcoin may head towards its upper resistance level of $57.20.
On the other hand, if the bears regain control, the AVAX token will retest its $40 support level. Additionally, if the bearish sentiment intensifies, it may drop to the lower support level of $31.50.
