Is It Too Late to Buy Avalanche? AVAX Price Soars 19% with Spotlight on Upcoming Green ICO as Next Big Thing
Developer-oriented layer-1 solution Avalanche price has seen its AVAX token soar +19% as Bitcoin pushes new highs.
This article will provide an analysis of AVAX’s current price trends and look to see whether an innovative DEPIN crypto, eTukTuk, represents a more promising investment opportunity at this time.
#Bitcoin is breaking new ATH and is in absolute price discovery BEFORE the halving. $ETH is next, $SOL is next, $AVAX is next.
Retail is nowhere to be found.
We go SO MUCH HIGHER.
— Kyle Chassé (@kyle_chasse) March 12, 2024
Market sentiment for Avalanche price remains incredibly bullish, with top crypto X (formerly Twitter) figures suggesting it will pump alongside Solana.
As Avalanche price reels from the recent push high, Avalanche is currently trading at a market price of $53.76 (representing 24-hour change of -3.06%).
This comes after the previous 48-hours of price action saw AVAX price fire-up from 20 DMA support (which now stands at $42.80) in a +42.7% move.
Hitting a local high at resistance around $57.35, AVAX price has fallen into a minor localized retracement in the hours since as price stabilizes.
The major uptick has left AVAX price trading high, in a major breakout above $45, that has ended more than 3-months of side-ways chop.
Yet, some concern emerges here, with the upside swing now reflected in an over-heated bearish RSI signal at 72.11.
But this conflicts with other indicators, such as the MACD, which spotlights the strengthening momentum at 1.26.
Overall, AVAX price analysis suggests that Avalanche price could be starting a major breakout move here, with huge capacity overhead to push high into the trading channel.
To the upside, this leaves AVAX targeting $60.5 (a potential +12.10%).
While downside risk could
Read more on cryptonews.com
