• Avalanche price trends upwards in a straight decline. 
  • AVAX price may have printed the final 5th wave low at $13.70.
  • Invalidation of the bearish downtrend is a breach of $22.14.

Avalanche’s AVAX price could shock traders as the price has a possibility to continue much higher.

Avalanche price could head north

Avalanche’s AVAX price is pulling off a bullish performance worthy of praise amidst this challenging crypto market. Since the weekend, the layer 2 gaming token has successfully recovered 33% of lost ground following the devastating crash to $13.70. When analyzing the technicals, one can fit a 5-wave impulse into the $13.70, which justifies the bulls who entered the market early to partake in the profitable opportunity.

Avalanche price currently trades at $17.02. If the Monday swing low at $14.23 can hold, smart money should have no problem reaching $20 for an additional 17% increase. The Relative Strength Index confounds the counter-trend bullish idea as bullish divergence is shown between the last two drops marked waves 3 and 5. If the technicals are correct, a breach above the most recent swing high at $18.49 should be enough to propel AVAX price into ideal bullish territory.


AVAX/USDT 9-Hour Chart

Invalidation for the current downtrend is a breach above $22.14. If this level gets breached, traders can join a pullback and target the $35 level resulting in a 100% increase from the current AVAX price. 



Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Cryptos feed Join Telegram

Recommended content

Recommended Content

Editors’ Picks

Solana Price Prediction: How high can the X-wave rally?

Solana Price Prediction: How high can the X-wave rally?

Solana price has fallen into a supportive level on the Relative Strength Index on larger time frames. Solana price could rally an additional 80% under conservative macro conditions. Invalidation of the uptrend scenario is a breach of the low at $25.78. 

More Solana news

Avalanche Price Prediction: A sharp decline in the making?

Avalanche Price Prediction: A sharp decline in the making?

Avalanche price shows a potential sell-off underway, and key levels have been identified. Avalanche price could be depicting early evidence of liquidation underway as the technicals show subtle bearish cues. AVAX price has rallied 90% since July 1st, printing a new monthly high.

More Avalanche news

Ethereum Classic Price Prediction: Has the FOMO rally topped?

Ethereum Classic Price Prediction: Has the FOMO rally topped?

Ethereum Classic price may be demonstrating a topping pattern based on technical indicators and fractal wave theory. Ethereum Classic price currently consolidates near a weekly zone as the sellers appear to have faded away on the Volume Profile indicator.

More Ethereum Classic news

Top 3 Price Prediction: No FUD, just charts

Top 3 Price Prediction: No FUD, just charts

Ethereum price has been in high debates as the community of developers and investors are dueling over the future Ethereum Merge implications. The commotion has brought considerable social media presence to the smart contract giant and impressive gains. Since July 1, the Ethereum price has rallied 93%.

More Ethereum news

Bitcoin: If bulls lose control here, BTC could revisit $21,000

Bitcoin: If bulls lose control here, BTC could revisit $21,000

Bitcoin price shows an interesting setup that could reveal its next move. On closer inspection,  its technicals support a bearish outlook for the leading crypto.  

Read full analysis