Critical threshold has been surpassed in Avalanche (AVAX): Can it reach the summit?

Avalanche (AVAX), which stands out with the sharp rise of major coins, accelerated its bull run by exceeding $50.

After the breathless rise of major coins such as DOGE, XRP, ADA, and SOL, AVAX is the one that has sprung into action. Surpassing the $50 mark, AVAX seems capable of meeting expectations in a potential altcoin rally. What levels should be followed for the popular altcoin, which has recorded a 132% increase in just one month?

$50 band will be decisive for AVAX

AVAX, which has risen above 50 dollars for the first time since May 2024, continues to give positive signals. With the successive rise of major coins, it is now AVAX's turn. Surpassing the critical level of 50 dollars, both psychologically and technically, could be a sign that the uptrend will continue.

As of the writing of the news, AVAX, trading at $50.79, may show an upward movement towards $59.25 and $65.32 if it exceeds $55.28. Finally, breaking the $65 level seen in March may be followed by the $100 level as the main target.

The levels that can be followed as support are respectively 41.87 - 35.08 - 32 - 30.05 - 24.80 - 21.84 and 20 dollar band. For short/medium-term investors, the $41.87 level will be critical. Weekly closings above this level can further accelerate the upward momentum. However, in the opposite scenario, selling pressure may increase and pull the price to the $30 band. In addition, news from the Avalanche ecosystem can play an important role in the price.

KALEO, known as an AVAX maximalist, stated in a post on X (formerly known as Twitter) that the price will exceed $100 within this month. With nearly 670,000 followers, KALEO has made Avalanche investors happy with this view.

$AVAX god candle to $100+ is happening this month.

— K A L E O (@CryptoKaleo) December 2, 2024

This article does not contain any investment advice or recommendation. Every investment and trading move involves risk and readers should conduct their own research when making a decision.