Avalanche (AVAX), the tenth-largest cryptocurrency, is expected to experience short-term volatility. Current resistance is at $50, a critical level for future growth.
Current AVAX Market Situation
Currently, Avalanche is priced at $49.74 with a market cap of $20.11 billion. With a total supply of 447.63 million, AVAX ranks 10th on CoinMarketCap. Recently, AVAX fluctuates within a trading range of $44.73 to $52.07, indicating growth potential if the market conditions improve.
AVAX/USD Technical Analysis
On the daily chart, AVAX/USD hit resistance at $50, causing a pullback. Such price movements often indicate healthy market corrections rather than bearish sentiment. Future increases may encounter resistance at $58, $60, and $62, while support levels lie at $36, $34, and $32.
AVAX/BTC Outlook
The AVAX/BTC chart shows a bullish trend, with a current trading price of 5132 SAT, confirmed by a 10.60% daily increase. The price is above both the 9-day and 21-day moving averages, suggesting continued upward movement. Support is at 4605 SAT, with key resistance expected above 6000 SAT.
Despite current challenges, AVAX retains a positive growth potential if market conditions improve. With sufficient support, it may continue its ascent to new highs, with significant gains possible despite short-term market fluctuations.
