|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
Captain Faibik Predicts a Major Avalanche (AVAX) Price Breakout to $45.5 Soon
Sep 20, 2024 at 03:00 pm
If AVAX holds above the $26 support, it may trigger a 183% price rise. AVAX's market share has grown to 0.92%, showing increasing demand and interest.
Popular crypto trader Captain Faibik has predicted a potential major price breakout for Avalanche (AVAX). If AVAX manages to hold support at $26, it could trigger a 183% price rise, leading to a possible surge towards $45.
Captain Faibik has identified a descending wedge pattern on AVAX’s price chart, which is often viewed as a bullish technical formation. This pattern has been forming since March 2024, with AVAX's price moving in a series of lower highs and lower lows. Recently, AVAX's price has pushed up from the upper line of the wedge, indicating a shift from a downtrend to an uptrend.
According to Faibik, if this breakout continues, it could lead to a 183% increase in AVAX’s value, pushing it up to around $45.5. He compares this to AVAX’s strong performance in late 2023, where it saw significant gains under a similar market setup. Based on this analysis, AVAX may be gearing up for another rally.
At the time of writing, AVAX is trading at around $28.13. Captain Faibik highlights the crucial support at $26, which is key for AVAX’s next move. If the price stays above this level, it could trigger the predicted price rise.
However, AVAX also faces resistance at the 50-day and 100-day Exponential Moving Averages (EMAs), which are at $29.52 and $32.69, respectively. If AVAX can push past these resistance points, it could gain momentum for further growth. Holding support around $25.73 is also important to prevent any further price drops.
The Relative Strength Index (RSI) for AVAX is currently at 43.38, which is slightly below the neutral 50 level. This indicates that the market is leaning towards bullishness, but not yet considered overbought, suggesting that there could still be room for price growth.
Over the past year, Avalanche has performed well, with returns of around 210%. At the same time, AVAX's share of the total crypto market has increased from 0.50% to 0.92%, indicating a growing demand for AVAX compared to other cryptocurrencies.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- Catizen Introduces Staking and Airdrop Pass to Reward Players Ahead of CATI Token Launch
- Sep 20, 2024 at 09:15 pm
- This staking mechanism, available shortly after the September 20 CATI token launch, reflects Catizen's broader goal of creating lasting value for its users.
-
- Charles Hoskinson and Javier Milei Will Explore Blockchain’s Potential for Argentina’s Future
- Sep 20, 2024 at 09:15 pm
- This important meeting will take place during the Tech Forum Argentina on October 19th. Hoskinson wants to discuss how blockchain technology can change
-
- Tether (USDT) Dominates 75% of the Stablecoin Market, But Can It Implode Like FTX?
- Sep 20, 2024 at 09:10 pm
- Some market analysts think that Tether could also implode like FTX, if not audited duly by third-party agencies. This implosion would likely be tied to its banking partners.
-
- Ethereum (ETH) Price Prediction: Is $3500 Possible in 2024?
- Sep 20, 2024 at 09:10 pm
- For a long time now, Ethereum (ETH) has held its fort as the dominant force in the crypto universe but is it realistic to predict that it will fulfill the appetizing $3500 price tag in 2024?
-
- Could Rexas Finance (RXS) Be the Next SHIB or DOGE?
- Sep 20, 2024 at 09:10 pm
- Some tokens have produced a frenzy amongst the public like Dogecoin (DOGE) and Shiba Inu (SHIB). Both animals earned massive social media presence during the euphoria of the 2021 bull market, and their price action made anyone who invested in them earn good returns.
-
- Crypto All-Stars ($STARS) Eclipse the $1.4 Million Mark Amid the Market Capitalization of Meme Coins Bouncing Back to $41.5 Billion
- Sep 20, 2024 at 08:50 pm
- The recent renewed fervor for meme coins has raised hopes among crypto investors for a bull run in the next quarter.
-
- Token Unlocks: What You Need to Know
- Sep 20, 2024 at 08:40 pm
- Token unlocks are reoccurring events in the crypto sector. It’s almost impossible to prevent them. In general, token unlocks are part of each crypto
-
- Kabosu Won Our Hearts And Started The Atsuko Sato Meta
- Sep 20, 2024 at 08:35 pm
- Many in the Doge community mourned Kabosu death and paid tribute through memes and heartfelt messages. The Kabosu blog collects touching moments of Kabosu’s life.
-
- Satoshi Era Bitcoin (BTC) Miner Wallets Dormant for 15.5 Years Start Transferring BTC
- Sep 20, 2024 at 08:35 pm
- These Bitcoin miner wallets received 50 BTC per block as mining rewards in 2009, according to Lookonchain, an on-chain tracking firm.