The price analysis for the Avalanche is bullish as the market finds a new higher floor and starts returning to its all-time high. As a result, we expect AVAX/USD to continue rising over the next 24 hours and surpass the previous high of $75.
AVX/USD was relatively pegged at around $74.55 to $78.67, trading down $733,000.
On the four-hour chart, the bulls are starting to control the Avalanche price action, suggesting we may see additional gains today.
This week’s price action for the Avalanche has been marked by strong bullish momentum. Bulls started pushing the market higher after a fresh low of $33 was set on September 7.
AVAX first broke its previous all-time high of $59 and hit a high of around $65 last weekend. On Wednesday, the Avalanche price move rose to new highs after returning to $66.
The record high of $75 was finally reached on September 18. This price swing came yesterday after another minor pullback. The gains, on the other hand, are starting to push AVAX/USD up again today, which may indicate additional gains in the next 24 hours.
Today’s price action is favorable for the uptrend as a new higher floor has formed in the last 24 hours and the bullish momentum has returned today. As a result, we expect AVAX/USD to try to break the previous high today.
While you wait for Avalanche to move forward, check out our articles on Wrapped Bitcoin, Decentralized Exchanges, and the NFT Marketplace.