Avalanche Soars 20% In 24 Hours – Analyst Reveals Next Price Target

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Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,904,156,162,165	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin

BTCUSD

Crypto

1,904,156,162,165

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	4,355.35	4.74%	96,327.61	96,327.60	96,327.61

Price Change

Price Change %

Current Price

Bid Price

Offer

4,355.35

4.74%

96,327.61

96,327.60

96,327.61

High Price	Low Price	Open Price	Prev. Close	52 Week Range
97,386.06	91,747.46	91,833.14	91,972.26	36,715.10 - 99,860.00

High Price

Low Price

Open Price

Prev. Close

52 Week Range

97,386.06

91,747.46

91,833.14

91,972.26

36,715.10 - 99,860.00

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	22:21:51	0.002522	96,331.31	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

22:21:51

0.002522

96,331.31

USD

Price x Volume	Volume	Base Symbol	Related Pairs
1,748,269,239.35	18,376.78	BTC	BTCEUR	BTCGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

1,748,269,239.35

18,376.78

Avalanche Soars 20% In 24 Hours – Analyst Reveals Next Price Target

24/11/2024 1:00am

NEWSBTC

Avalanche (AVAX) has made a significant move, breaking above a crucial resistance level and soaring over 20% in less than 24 hours. This surge has reignited bullish sentiment among analysts and investors, who are now closely monitoring AVAX’s potential to reach the key $50 mark in the coming days. The breakout signals a shift in market dynamics, with rising demand and growing optimism fueling the price action. Related Reading: Massive Ethereum Buying Spree – Taker Buy Volume hits $1.683B In One Hour Prominent analyst and crypto investor Kaleo shared a detailed technical analysis on X, suggesting that once AVAX surpasses the $50 level, it could trigger a massive rally. He highlighted the importance of this psychological and technical level as a gateway to exponential price growth, potentially attracting more momentum-driven buyers. Avalanche’s recent performance reflects the broader strength of the crypto market, as key altcoins experience renewed interest amid a bullish cycle. With market conditions aligning favorably, AVAX could continue its upward trajectory if it holds above its current levels. However, traders are also cautious and aware of potential profit-taking or resistance near the $50 threshold. Avalanche Prepares For A Rally Avalanche is on the verge of a massive rally, closely following a pattern reminiscent of its last bullish cycle. The price has surged above key supply levels with impressive strength and is now less than 15% away from the critical $50 mark. This level has captured the attention of both traders and analysts, as a breakout above it could signal the start of an aggressive bullish phase. Kaleo recently shared a technical analysis on X, emphasizing the importance of the $50 level. According to Kaleo, breaking this psychological and technical barrier could trigger a powerful rally, potentially doubling AVAX’s value in a short period. He also highlighted the AVAXBTC chart, which shows a similar breakout pattern, confirming the bullish sentiment surrounding Avalanche. Kaleo predicts that AVAX could reach $100 quickly if the momentum continues. Despite the optimism, the potential for a market-wide correction introduces a degree of caution. With Bitcoin showing signs of possible retracement to consolidate and gather momentum, AVAX may face temporary pullbacks. Related Reading: Bitcoin LTHs Start Taking Profits – Metrics Reveal Whales Are Actively Spending However, such corrections could present buying opportunities for those eyeing long-term gains. As Avalanche approaches this pivotal stage, investors are eager to see if it can break above the $50 level and deliver the explosive rally analysts have forecasted. AVAX Testing Fresh Supply Levels Avalanche is trading at $43.6, marking its highest price level since April following a strong breakout above key resistance around $35. This impressive price action has reignited optimism among investors and analysts, with AVAX showing resilience as it pushes toward fresh supply levels. Currently, AVAX appears poised to challenge the critical $50 mark, a psychological and technical level that could determine the next phase of its rally. However, there is a possibility that the token may consolidate below this level in the coming days. Consolidation would allow the market to absorb recent gains and build momentum for a stronger push higher. On the downside, if AVAX struggles to reclaim $50, it could trigger a retrace to lower demand zones, providing the necessary support to fuel its next leg up. Such a pullback would not signal a bearish trend but rather a healthy correction that could strengthen AVAX’s trajectory toward sustained growth. Related Reading: Polkadot Holds Key Demand Level – DOT Could Hit $11 In Coming Weeks As Avalanche continues to climb, investors are closely monitoring price action and volume to assess the likelihood of further upside. The $50 mark remains a critical level to watch, as a successful breakout could pave the way for new highs and solidify AVAX’s bullish momentum. Featured image from Dall-E, chart from TradingView

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