$AVAX Analysis: Potential for Price Rise - Сoinpedia Analytics
AVAX is gaining attention as trader Captain Faibik predicts a significant price increase, potentially pushing AVAX to $45 or higher. Many investors are closely monitoring for a possible breakout.
Currently, AVAX is trading around $27.57, with key support at $25. A break of this level could stall the upward momentum, but holding above current positions supports expectations for further upside. It is important to note that AVAX recently broke above its 50-day and 100-day moving averages (SMA), which were at $29.00 and $25.21, respectively, signaling the possible start of a new uptrend.
The RSI indicator is now at 69.82, which is approaching the overbought zone. This may indicate a potential correction in the short term, but the current trend remains strong and growth may continue.
Avalanche has seen strong performance over the past year, achieving returns of about 210%. Its market share has risen to 0.92%, reflecting increasing demand. With technical indicators suggesting a breakout, many investors are eager to see if AVAX can reach $45 soon.
