AVAX Price Prediction – Technical Analysis

Avalanche Price Prediction: AVAX Faces Resistance at $50

The Avalanche (AVAX) price prediction indicates that the token is currently facing resistance around the $50 mark, with a short-term pullback expected. Despite this, AVAX continues to show strong potential for growth, thanks to its impressive performance since its all-time low in December 2020.

Avalanche Statistics Data

• Avalanche price now: $49.74
• Market Cap: $20.11 billion
• Circulating Supply: 409.29 million
• Total Supply: 447.63 million
• CoinMarketCap Ranking: #10

Avalanche has demonstrated the value of early adoption in the cryptocurrency market, surging an incredible +1735.81% from its all-time low of $2.79 on December 31, 2020. This remarkable rise culminated in a peak of $146.22 on November 21, 2021. Despite ongoing fluctuations, with a 24-hour trading range between $44.73 and $52.07, AVAX continues to showcase the benefits of early investment in the crypto space.

AVAX/USD Market Overview

AVAX/USD has recently encountered significant resistance around $50. This resistance was tested earlier today but was not surpassed, leading to a brief price pullback. While such fluctuations may seem negative, they are often part of healthy market corrections.

Key Support and Resistance Levels

• Resistance levels: $58, $60, $62
• Support levels: $36, $34, $32

The critical question now is whether AVAX can maintain its upward momentum despite broader market trends, especially as Bitcoin dominance continues to rise.

Avalanche Price Prediction: Will AVAX Move Higher?

Looking at the broader market conditions, the resistance at $49.74 is a key level for any potential bullish breakout. The price action suggests that AVAX may struggle to break this resistance unless market sentiment improves. If market conditions become more favorable, a potential upward move toward the next resistance at $64 is possible, especially as this level represents the highs of March.

However, if AVAX can defend the $50 level, a breakout above this could bring it closer to the $58, $60, and $62 resistance levels. Despite short-term fluctuations, the overall technical picture for AVAX remains bullish, with the token respecting an uptrend since November. Even if AVAX dips into the $41-$42 range due to short-term market weakness, a rebound is expected.

For the bullish trend to remain intact, AVAX must stay above the 9-day moving average, which is currently positioned above the 21-day moving average. A break below the moving averages could lead to a deeper pullback, testing support levels at $36, $34, and $32.

AVAX/BTC Market Overview

The AVAX/BTC daily chart highlights a strong bullish trend, with the price currently trading at 5132 SAT, marking a 10.60% increase for the day. The price is well above both the 9-day and 21-day moving averages, indicating sustained bullish momentum. The 9-day moving average at 4605 SAT now acts as immediate support.

Key Resistance and Support Levels for AVAX/BTC

• Resistance: 6000 SAT and above
• Support: 4000 SAT and below

If AVAX can break through the 6000 SAT resistance level, it could lead to a sustained rally. On the downside, the 4000 SAT level provides strong support, and a break below this could lead to further consolidation or a deeper pullback.

Price Outlook: Could AVAX Reach $126?

According to cryptocurrency analyst @JavonTM1 on X (formerly Twitter), AVAX is targeting a significant price level of $126.03. From its current levels, this price target represents an impressive potential move of over 153%. With increasing market support and positive sentiment, AVAX could continue climbing towards this target, making it a token to watch closely.

Avalanche Alternatives: Pepe Unchained ($PEPU)

While AVAX shows bullish potential, other projects like Pepe Unchained ($PEPU) are emerging as noteworthy alternatives. $PEPU has already raised $66 million in its ICO, with tokens priced at $0.01295 each. The project has garnered significant social media attention and is positioning itself for major exchange listings.

Why Consider $PEPU?

• Lower transaction fees
• Faster speeds
• Development-focused tokenomics

If you’re looking to diversify your crypto portfolio during the bullish altcoin season, $PEPU presents a high-potential investment opportunity. Act fast before the ICO concludes, as this meme coin could see significant upside in the coming months.