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Avalanche (AVAX)

Avalanche Price Analysis: AVAX is expected to spike to $90

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  • Avalanche price analysis is bullish today.
  • AVAX/USD is presently at $87.6.
  • Bullish momentum returned this morning.

Today’s price analysis for the Avalanche is bullish, as a higher low has been established around $90 following a strong drop. We believe that AVAX/USD will continue to rise because of the higher rejection that followed shortly after. After the spike to $88, a rejection of around $90 formed an uphill momentum that is likely to continue into the upcoming hours.

Avalanche price movement in the last 24 hours: Bullish trend

Technically, this climb could reverse before reaching 100% Fibonacci Retracement, but we believe that it will be followed by another spike in price soon afterward. The reason for this is because there has been a strong buy-up from those who were following our previous analysis as the market dived slightly to $80. As it is climbing back up now, we expect those who bought at around $82 and other traders and investors to join in on the ride. These traders could be motivated by a breakout on the hourly chart, which is also shown below.

It should be noted that AVAX/USD could potentially experience another rejection around $90 again because there is a strong resistance there (not only for this particular cryptocurrency but for all others). If this happens, traders will use the previous buy-up momentum as an entry signal to buy the coin.

As mentioned, we believe that AVAX/USD will rise because of this reason, and as such, we maintain our bullish analysis for today. The buy-up momentum was strong enough to support an upwards trend and a test of $75 (which is now a higher low), which resulted in another spike. All these signs indicate to us that this cryptocurrency has excellent potential.

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AVAX/USD 4-hour chart: AVAX rebounds after a spike to $88

On the 4-hour chart, we may observe a resurgence of bullish momentum this morning, which will likely contribute to more significant price rises later today.

Avalanche Price Analysis: AVAX is expected to spike to $90 1
AVAX/USD 4-hour chart. Source: TradingView

Since the beginning of November, the price of an avalanche has been building up a lot of momentum. AVAX/USD rose to a new monthly high of $90 after breaking above the prior monthly high of $83.5.

A long-term analysis of AVAX/USD is bullish, as indicated two months ago in our article when it was worth $50.  The market was experiencing a significant drop that caused the 100% Fibonacci Retracement to plummet from $50 down to $40. However, there has been a substantial rise since then, and we believe that this trend will continue for many reasons.

Avalanche Price Analysis: Conclusion 

Today’s price analysis of the Avalanche is bullish. We maintain our bullish outlook because there has been a strong buy-up after the drop to $80, and the rejection around $90 has led to an upswing. These counterintuitive trends show us that higher prices may be achieved in the upcoming hours.

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Avalanche (AVAX)

Avalanche dethrones Terra, but here’s what may be next

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Solana has been tough competition in the DeFi space, but Avalanche is looking to take it on soon. Previously, it only had Terra as a competitor since it was still far away from overtaking Solana. Interestingly, Avalanche might do that if it manages to maintain its growth on the charts.

Avalanche in Decentralized Finance

Curiously, Solana replaced Terra to take the third spot. And now, Avalanche has pushed Terra further below as it has taken its fourth spot. Even so, Ethereum continues to dominate the DeFi space.


Top 10 DeFi chains | Source: DeFi Llama – AMBCrypto

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At the time of writing, Avalanche was only $1.1 billion away from taking the third spot from Solana.

Over the month, Avalanche’s TVL has recorded a 62% growth from $8 billion to hit $13.9 billion.

Avalanche TVL | Source: DeFi Llama – AMBCrypto

Avalanche was led by the explosive rise of some major protocols on the network such as Cook finance, Blizz Finance, and Wonderland, among others. Ergo, it is seeing a myriad of investors participating in the network, making the network’s growth actually organic.

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Its overall network development is also decent, growing every day. However, when it comes to how it can be a threat/competition to Solana, the answer isn’t exactly one-directional. Especially since Solana and Avalanche are equally tough.

For starters, the participation boom on Avalanche has led to the revenue figures crossing $1 million and touching $1.9 million at its peak. Solana, on the other contrary, flashed figures of only $280k per day.

Avalanche and Solana total revenue | Source: TokenTerminal

But, in terms of overall trading volumes, the figures are led by Solana with Avalanche trailing somewhat. 

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Avalanche and Solana total trading volumes | Source: TokenTerminal

Notably, social volumes also seemed to indicate that Solana has been slightly more popular and wanted than Avalanche.

Avalanche and Solana social volumes | Source: Santiment – AMBCrypto

However, Avalanche still remains comparatively more attractive given its growing adoption and integration. Consider the latest example, for instance – OlympusDAO.

This is more so because it offers significantly higher risk-adjusted returns, when compared to Solana. This does play an important role in driving investors towards the network.

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Additionally, with a growth rate of 17% observed over the last four days, AVAX, at press time, was only 9% away from hitting a new all-time high. Hence, the future might see more investors entering the Avalanche market when that happens.

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Avalanche price analysis: AVAX unable to break through $124 resistance

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  • Avalanche price analysis is bullish today.
  • AVAX/USD is stuck at $124 resistance level.
  • Support is present at $119.5.

The AVAX price analysis is bullish for today, but despite the bullish momentum, the coin is finding it hard to move past the $124 resistance. The current bullish momentum started on 29th November but lost its energy on 30th November as the buying slowed down, which is the driving force behind it. However, today bulls again gathered some strength and took the AVAX price noticeably upwards, and now they are facing trouble at a $124 crucial resistance level.

AVAX/USD 1-day price chart: Bulls need more strength

The 1-day Avalanche price analysis shows bulls have covered an upwards range from $121 to $124 today will swinging as high as $127 at a point today. The AVAX/USD pair is trading hands at $124 at the time of writing, reporting an increase in price value by 3.94 percent. On the other hand, the week

ly gain is quite low, accumulating to only 0.68 percent, the reason being the downward trend during the start of the week when AVAX was reverting back from its ATH at $135. AVAX’s trading volume has increased by almost 52 percent and the market cap by 5.93 percent over the last 24 hours.

Avalanche price analysis: AVAX unable to break through $124 resistance 1

The volatility is high for the AVAX/USD pair as the Bollinger bands are expanded with the upper band at $138, which represents resistance level as the price is below this level, and the lower band is at the $85 mark. The mean average of the indicator represents support for the crypto pair at the $111 mark.

The relative strength index (RSI) is trading on a slight upwards slope, hinting at a little more buying activity, which started on 29th November in the market. The RSI is still in the upper half of the neutral zone, and for the coin to move above $124, the RSI needs to be near the borderline of the overbought region.

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Avalanche price analysis: Recent developments and further technical indications

The 4-hour price chart for Avalanche price analysis shows that the coin spiked high after the price breakout upwards, but after 4-hours, selling pressure also kicked in as the resistance at $124 is strong, and AVAX needs more support for a breakthrough.

Avalanche price analysis: AVAX unable to break through $124 resistance 2
AVAX/USD 4-hours price chart. Source: TradingView

The volatility is increasing for AVAX/USD, The upper Bollinger band is now at $217, representing resistance for AVAX as the price trades below the upper band, and the lower Bollinger band is present at the $102 mark. The RSI curve is also downwards, indicating the selling pressure at the moment, as it travels down at index 60.

Avalanche price analysis conclusion

The Avalanche price analysis shows the coin is in bullish momentum, but bulls need more support to make a push through above $124 resistance. The 4-hour chart also shows high pressure at this time, but there are ample chances for AVAX bulls to get the required support in the coming hours, and the AVAX may start its journey above $124.

The volatility is high for the AVAX/USD pair as the Bollinger bands are expanded with the upper band at $138, which represents resistance level as the price is below this level, and the lower band is at the $85 mark. The mean average of the indicator represents support for the crypto pair at the $111 mark.

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The relative strength index (RSI) is trading on a slight upwards slope, hinting at a little more buying activity, which started on 29th November in the market. The RSI is still in the upper half of the neutral zone, and for the coin to move above $124, the RSI needs to be near the borderline of the overbought region.

Avalanche price analysis: Recent developments and further technical indications

The 4-hour price chart for Avalanche price analysis shows that the coin spiked high after the price breakout upwards, but after 4-hours, selling pressure also kicked in as the resistance at $124 is strong, and AVAX needs more support for a breakthrough.

Avalanche price analysis: AVAX unable to break through $124 resistance 2
AVAX/USD 4-hours price chart. Source: TradingView

The volatility is increasing for AVAX/USD, The upper Bollinger band is now at $217, representing resistance for AVAX as the price trades below the upper band, and the lower Bollinger band is present at the $102 mark. The RSI curve is also downwards, indicating the selling pressure at the moment, as it travels down at index 60.

Avalanche price analysis conclusion

The Avalanche price analysis shows the coin is in bullish momentum, but bulls need more support to make a push through above $124 resistance. The 4-hour chart also shows high pressure at this time, but there are ample chances for AVAX bulls to get the required support in the coming hours, and the AVAX may start its journey above $124.

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Avalanche (AVAX)

Avalanche (AVAX) Parabolic Rally – Is It Over?

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The crypto market has been seeing important corrections lately, but this did not stop the optimistic predictions from hitting the crypto space.

One of the most successful projects lately has been Avalanche and an important analyst is debating whether the coin can go higher in the near future.

Avalanche (AVAX) price prediction

Crypto analyst Benjamin Cowen addressed whether Avalanche (AVAX) has any gas left in the tank after its parabolic rally.

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Just in case you don’t know, AVAX hit its ATH of nearly $145 over the weekend.

The smart contract platform was trading around $13 at the beginning of August, according to the notes coming from CMC.

Cowen said that AVAX is getting “somewhat extended.”

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On the other hand, he said that Avalanche is at the same level of extension that it was at when it hit $60, and then it more than doubled in price.

Cowen says it would be “concerning” to see the coin get even more extended by continuing to rise in a short period of time.

He also said that AVAX’s US dollar valuation is highly dependent on what Bitcoin (BTC) does.

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“As long as Bitcoin stays above its 20-week moving average, then AXAX can continue to rally until it gets too far gone to sustain it in the short term, and then we’ll have a pullback. But as long as Bitcoin stays healthy, then, of course, AVAX can continue to make a move.”

According to the latest reports coming from the Daily Hodl, Cowen noted that AVAX could go up another 50% against Bitcoin.

AVAX could reach $200

According to the analyst, such a move would price Avalanche at just over $200 if Bitcoin’s value remained steady.

As you probably know by now, BTC has been seeing some corrections lately, but this did not stop excited investors from buying the dip.

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