|

Avalanche price makes a turn for the better

  • Avalanche price shows classic ramping pattern accompanied with price ascension.
  • AVAX price has breached the oversold level on the Relative Strength Index.
  • If the technicals are correct, a breach of the $50 barrier could happen rapidly.

Avalanche price looks strong which may be a shock to many analysts eyes during this bear market.

Avalanche price looks impulsive

Avalanche price currently auctions at $29. The digital gaming token could be showing early stages of a journey to the moon as technicals appear rather unusually bullish. If market conditions are genuine, extreme volatility for traders is to be expected. AVAX price could become the scalpers’ playground for this month.


Avalanche price technical indicators confound the idea of an explosive rally. The Relative Strength Index has breached oversold territories while the Volume Profile Indicator produces a classical volume ramping pattern. 

When combined, it appears AVAX price could be witnessing the calm before the storm stages. A second  breach of $30.50 should be enough to propel the digital gaming token in an explosive manner. First target is $40, with an extended variant at $50.

tm/avax/8/20/22

AVAX/USDT

If the technicals are genuinely as bulliish as they seem. then the AVAX price should not be lured into breaching lquidity levels lying below the swing low below $22. If this bearish event occurs the AVAX prrice uptrend would be in jepordy with a decline towards $14 and possibly $10 as a possible outcome.

In the following video, our analysts deep dive into the price action of Avalanche, analyzing key levels of interest in the market. -FXStreet Team

Author

Tony M.

Tony M.

FXStreet Contributor

Tony Montpeirous began investing in cryptocurrencies in 2017. His trading style incorporates Elliot Wave, Auction Market Theory, Fibonacci and price action as the cornerstone of his technical analysis.

More from Tony M.
Share:

Editor's Picks

Ripple slides to $1.45 as downside risks surge

Ripple edges lower at the time of writing on Tuesday, from the daily open of $1.48, as headwinds persist across the crypto market. A short-term support is emerging at $1.45, but a buildup of bearish positions could further weaken the derivatives market and prolong the correction.

Bitcoin slips below $68,000 as defensive stance limits recovery

Bitcoin edges lower on Tuesday, extending consolidation in a trading range for over ten days. Market conditions remain defensive, with sustainable recovery depending on renewed spot demand, report says.

Crypto Today: Bitcoin, Ethereum, XRP upside looks limited amid deteriorating retail demand

The cryptocurrency market extends weakness with major coins including Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) trading in sideways price action at the time of writing on Tuesday.

Meme Coins Price Prediction: Bears push Dogecoin, Shiba Inu, Pepe to the ropes

Meme coins, including Dogecoin, Shiba Inu, and Pepe, are under pressure on Tuesday, extending Sunday’s decline. The derivatives data show substantial outflows from DOGE, SHIB, and PEPE futures Open Interest, primarily driven by long-side-skewed liquidations. 

Bitcoin Price Annual Forecast: BTC holds long-term bullish structure heading into 2026

Bitcoin (BTC) is wrapping up 2025 as one of its most eventful years, defined by unprecedented institutional participation, major regulatory developments, and extreme price volatility.

Bitcoin: BTC bears aren’t done yet

Bitcoin (BTC) price slips below $67,000 at the time of writing on Friday, remaining under pressure and extending losses of nearly 5% so far this week.