Analysts Expect Value of Avalanche May Surge 24% Prior to Web3 Hackathon’s Launch

The analysts are expecting a significant rise in the trading price of Avalanche (AVAX). It is predicted that the trading price of AVAX may get pushed up to $32. Compared to the current trading price of AVAX versus the increased value, the analysts expect a 24% price surge.

Price Prediction for AVAX

It is predicted that the particular trading price would be within its period of consolidation. The price prediction suggests that the trend for AVAX may break through the descending line.

Such a trend would have AVAX come closer to its strong resistance mark or in easier words, its first hurdle. The first resistance level for AVAX is set to be formed at $25.

Cypher Mind HQ

Recent Rejection of AVAX at $25

At the time of writing, the trading price of AVAX is hovering around $22.50. However, the investors anticipate a strong push that may significantly push the trading price of AVAX.

It is to be kept in mind that just recently, the bulls were able to form a strong rally. Even at that time, the bulls were able to push the trading price of AVAX all the way up to $25.

However, the strong resistance power of the bears did not let the bulls break through the particular level.  They increased their selling power, which pulled AVAX close to $22.50.

AVAX’s Current Situation

As the price of AVAX started to dip, the bulls increased their buying power, which has successfully kept it around $22.50. The bulls are currently sustaining the particular level and from there, they want to push AVAX again.

This time, the buyers may try their best to push the trading price of AVAX over the $25 level. Their attempt would be to push it through the particular mark and not let the bears reject the efforts of the bulls.

If the trading price of AVAX is able to push through the $25 resistance level, the bulls may succeed in forming a strong rally. In this particular scenario, the trading price of AVAX may surge by 24%.

Cypher Mind HQ

Bearish Movement of AVAX

The bulls may be able to sustain the selling pressure of the sellers for now but if things do not go in their favor, then AVAX’s price may start dipping. If that happens, then the trading price of AVAX may start falling below $22.50. Going forward, AVAX’s price may dip to $19.50.

However, as the buying power of the bulls increases, then they may find it easier to hit and cross the $25 level. From there, the trading price of AVAX may succeed in crossing the $30 mark.

Author: Jerry Dedmon

Jerry Dedmon is a new writer on Cryptocoin Stock Exchange, his articles are cryptocurrency news, analysis and blockchain news based. We recommend tuning in for Jerry's daily posts as they are always a great and interesting read.

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