AVAX currently at the time of writing is being traded at the price of almost $80.26. In the past 24 hours, the price has increased by almost 9.77%. It is listed in the 10th spot on coinmarketcap according to market capitalization. The daily volume on the other hand has decreased by almost 7% in the last day. It has a market dominance of about 1.13%.
Technical Analysis – Avalanche (AVAX)
Moving to the technical analysis of AVAX, and starting from the Weekly Time Frame.
Other than the recent candles anatomy, the other macrostructure is not very important at the moment, but still, the price has shifted structures in a sense that it failed to create another Higher High after it made a Higher Low and it broke that Higher Low and this seems to be a corrective wave of that huge impulse. The previous week, the candle closed as a DOJI which took out and stop hunting the previous weeks. Price this week is trying to mitigate the equilibrium of the previous week’s wick.
Moving to the Daily Time Frame, the price seems to have shifted structures very clearly, it’s a complex pullback towards optimal trade entry-level.
Moving to the 4 Hour Time Frame, the momentum is strong and has done some inducements which would induce early sellers which probably will be taken out. Price may push upside further, and mitigate the Order Block which is in confluence with FIBO golden ratio.
Talking about the invalidation, if the price violates that OB which is the POI then this scenario will get invalidated, while talking about the target the level of $75.03 can act as a great one.
Price Prediction – Avalanche
AVAX has been one of the most bullish coins in the market among the high market cap coins. This can be seen as the all-time high of the coin lies around the price of almost $147. According to wallet investor, the price of AVAX is expected to reach a value of almost $184.199. In five years the price is expected to grow and reach a value of almost $594. This shows that the price can do multiple times from where it is right now.
