AVAX $400 Price Faith: Is It Time To Buy Now?

Avalanche (AVAX) has entered bearish territory as its market price nosedived to almost -20% in the past 20 days. This made AVAX trade at a down price lower than $80 per crypto. The whole crypto space is also experiencing these challenges as its market cap plunges to almost -5% in the past 24 hours.

In terms of market position, AVAX positions itself as one of the top 10 cryptos in CoinGecko. It has a huge market cap of over $20 billion with a 24-hour trading volume of $1 billion. This market status of AVAX is proof that despite its price breakout, many are still believing in the technology of the crypto.

As seen in the chart above, AVAX trades below its resistance level of $103. This position of the crypto may seem to be bearish but if we are going to check the graph, Avax can still be seen in a decent position. In detail, the current position of AVAX today recorded a growth rate of more than a +500% price surge from its price position last year.

If AVAX is able to pump its price once again like it did in the past, AVAX might be facing a price boost. Specifically, the price of the crypto may reach the skyrocketing price of over $400. Indeed, this is an event that will drive the AVAX community into a frenzy mode. But of course, this price forecast of AVAX still depends on the behavior of its investors and the bullish market.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.