Following a bullish reversal from the $8.6 mark, the AVAX value has remained a high performer within the blue-chip altcoins for the previous few weeks. With a exceptional efficiency within the late Uptober season, the bull run approaches the $20 mark.
With a 100% development within the final 16 days, the AVAX price prediction denotes a constructive high-demand section within the coming months.
Following the double backside reversal on October nineteenth, the AVAX value development continues a linear development section to surpass a number of roadblocks. Overcoming the essential 50D and 200D EMA, the uptrend reverts the development polarity of the EMAs.
With a bullish turnaround influencing the golden crossover within the essential EMAs, the prospect of a chronic uptrend will increase. Additional, the crossover occasion will increase the overall market sentiments across the altcoin.
With a triple white soldier sample, the AVAX value rose by 46% to $19.79 between November tenth and twelfth. Adopted by a fast correction to retest the $16 break, the patrons regained management with a 5.79% leap. Sustaining the momentum, the Avalanche value skyrockets with an intraday development of 5.40% and at present trades at $17.97.
Subsequently, the growing development momentum and the general market restoration enhance the possibilities of a bull run within the Avalanche market value.
Technical indicators:
RSI: The day by day RSI line continues to maintain the bullish overbought territory regardless of a brief pullback to the 70% boundary line.
Will AVAX Value Rise To $20?
With the general market taking a bullish stand because the Bitcoin Spot ETF wildfire fuels the uptrend within the altcoins, the AVAX value eyes to cross the $20 mark. Additional, the worth motion evaluation initiatives a excessive probability of a bull run above $20 to succeed in the $25 mark.
On the flip facet, a reversal earlier than the $20 mark can drop the costs again to $16.
