The past week has been a bullish run for AVAX as it has flipped multiple resistance levels. This development could further fuel Avalanche’s price towards all-time high and even beyond that.
Since AVAX’s all-time high on November 21, 2021 that hit $146.75, the currency has seen four lower highs.
But over the past week AVAX price has rallied roughly 41% tossing the $78.96 & $86.4 hurdles. Although at the press time Avalanche is trading at $87.49, there is a possibility of crossing beyond this level.
We can expect another advancement towards $100 & buy-stop liquidity resting above $98.
The recent price push might also be due to the launch of subnets that allows developers to build app-specific Blockchains under AVAX with customer parameters that says how you create the customer database & also how individual customer records are treated.
AVAX Price Forecast
While this is an breathtaking move, if the bullish momentum continues, bulls could push AVAX price at $125 totalling an increase of more than 40% gain from current position.
This recent gain has allowed Avalanche to overcome the previous two hurdles fueling the future rallies to take off. But the analysts feel that if AVAX fails to sustain the bullish trend, the currency may fall back trading at $78.96.
if AVAX sees a daily candlestick closing below $70.32, this will create a lower low giving the control to bears. If there is a lower low Avalanche could see a revisit to $64.59 support barrier allowing buyers to regroup for another uptrend.