$AVAX

🚨 Avalanche coin price prediction 🚨

Avalanche AVAX $22.03 has been range-bound between $23.50 and $15.27 for the past few days. In a range, traders usually buy near the support and sell close to the resistance.

Although buyers have failed to push the price above $23.50, a positive sign is that they have not ceded much ground to the bears. That increases the likelihood of a break above $23.50. If that happens, the AVAX/USDT pair will complete a double-bottom pattern, which has a target objective of $31.73.

This optimistic view will be negated in the near term if the price turns down and breaks below the moving averages. The pair may then remain stuck inside the range for a few more days.

The pair has been consolidating in a narrow range between $21.60 and $23.10 for some time. That suggests the bulls are holding on to their positions as they anticipate another leg higher. If buyers propel the price above $23.10, the pair could surge to $25. There is resistance at $23.50, but it is likely to be crossed.

Alternatively, a drop below $21.60 signals that the bulls have given up. That may pull the price down to $19.50.

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