The crypto market has become more uncertain since the beginning of the year 2022 as the popular cryptos experience massive volatility in both directions. The assets gain a significant amount of value, but very quickly they lose their profits.
And thus drag the value of the asset to the same levels as before. A similar scenario occurred with the Avalanche (AVAX) price, but to differentiate itself from the other market trend, the asset is more poised to reach a 3-digit figure very soon.
AVAX price had maintained a significant upward trend since the last few days of January 2022, which it carried until the asset crushed the monthly highs at $95.5. Here, the DeFi token had bragged through the consolidated uptrend to gain a massive lead, but unfortunately the asset re-entered the parallel channel and speculated on a bearish trend. But the recent strong reversal from last trading day’s bearish trend showed the strength of the asset.
AVAX price has since reversed the bearish trend after hitting the lows at $52.95 and has maintained a notable uptrend. Interestingly, the asset ranged high to break the key resistance levels between $87 and $89, but it turned out to be fake.
Without wasting more time, however, the asset flipped and reached the lower support levels of the rising triangle formed, which is considered one of the most bullish indicators. The price is again testing the same resistance zone within the triangle and may eventually make it if buying pressure rises to decent levels.
Avalanche price could break through these levels and eventually reach the highest and crucial resistance of USD 96. These are also the upper bands of the bullish triangle which could fuel the next uptrend which could help the price reach a 3 digit figure very quickly.
This is where the asset needs to be pretty cautious as the bears seem to be quietly alert at this stage and may be ready to take their profits. The AVAX price may experience a mid-term pullback here, but it may fluctuate solidly around $100 as the asset will reach ATH at the earliest.
This Post Avalanche (AVAX) Price Eye Up 20% Up, $100 Seems Achievable Today! ￼ – Coinpedia – Fintech & Cryptocurreny News Media was first published at https://coinpedia.org/price-analysis/avalancheavax-price-eyes-at-a-20-upswing-100-appear-achievable-today%EF %BP %BC/