After a decisive slump successful December, Avalanche (AVAX) and astir cryptos person rebounded. Although momentum is starting to dice down, we person seen immoderate affirmative uptrend successful caller weeks. But tin AVAX prolong capable gains to surge beyond the $147 mark? This volition instrumentality the coin to all-time highs. Well, earlier we get to the terms enactment and analysis, present are immoderate highlights:
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Avalanche (AVAX) has successful the past 2 days surpassed its 20-day EMA of $109, suggesting bullish momentum.
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At the clip of writing, the coin was trading for $113.74 albeit it was down astir 3.68% successful 24-hour intraday trading.
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The Relative Strength Index oregon RSI is besides looking bullish with a speechmaking of astir 57.
Data Source: Tradingview.com
Avalanche (AVAX) – Price investigation and prediction
For astir analysts watching AVAX, 1 of the cardinal things successful the terms enactment was to spot if the coin tin surge beyond its 20-day EMA and prolong gains supra that. Well, AVAX did precisely that 2 days agone and adjacent though it has seen immoderate losses implicit the past 24 hours, it is inactive mode supra the 20-day EMA.
AVAX is nevertheless facing stiff absorption astatine $119.69. The coin had earlier tested that threshold but has since fallen. But arsenic agelong arsenic the terms enactment is supra the 20-day EMA, a surge supra $119 is possible. It could besides beryllium the momentum trigger needed to propulsion AVAX good supra $147.
Should you bargain Avalanche (AVAX)
Avalanche is 1 of the main competitors to Ethereum. It is contiguous among the astir promising blockchain projects. If you are a semipermanent investor, you should decidedly person AVAX successful your portfolio. The caller terms enactment nevertheless makes it a tricky 1 for short-term plays. Unless the coin drops beneath its 20-day EMA, it is not primed for short-term speculative trades.
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