Avalanche (AVAX) Price Prediction: Is a 30% Increase on the Horizon for AVAX?

Updated: 05 October 2023

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

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Avalanche (AVAX) has witnessed increased volatility as it steadily approaches a critical resistance level at $11.21, with bulls displaying continued resilience.

AVAX is trading at $10.22 as of 7:29 a.m. EST, marking a 5% gain in the past 24 hours. Its weekly performance also shows an 11% surge.

According to data from CoinGecko.com, the trading volume for AVAX has surged by 41% for the day, reaching $253 million.

Will AVAX Bulls Sustain this Momentum?

AVAX has formed a falling wedge pattern that indicates a shift towards a bullish trend, providing investors an opportunity to enter the market after a prolonged downtrend.

Furthermore, AVAX has displayed a price rebound from the lower boundary of the falling wedge, signifying that the bulls have taken control of the price. This bullish rally has resulted in the price breaking above the wedge. This breakout has the potential to empower the bulls to drive prices higher, confirming the bullish trend in the upcoming weeks and throughout Q4 of 2023.

The bullish outlook is bolstered by the relative strength index (RSI), which has rebounded and is presently approaching the overbought zone, currently standing at 61. This indicates a significant influx of buying pressure.

Moreover, the price has surpassed the 50-day moving average but has yet to reach the 200-day moving average, which is positioned above the price. This suggests a price retracement for AVAX, targeted at $13.2.

The 50-day moving average currently serves as immediate support for AVAX’s price. The bulls must maintain a position above this simple moving average to uphold the bullish momentum.

Based on the above analysis, the price of AVAX demonstrates a bullish bias supported by the falling wedge pattern. Should the bullish trend persist, the bulls may propel the price toward the $12.71 and $14.93 resistance levels.

On the flip side, bears may seize control of the price, potentially assisted by the 200-day simple moving average, to retest the wedge’s upper boundary. Should this scenario unfold, it could compel the bulls to withdraw, seeking support at the $9.21 zone.

Amid this uncertainty, Meme Kombat presents an appealing opportunity for AVAX investors with its attractive low-price presale offer and an enticing stake-to-earn program.

Meme Kombat (MK): The Next Potential Crypto Sensation

Meme Kombat (MK) has captured the attention of traders and investors. This cryptocurrency combines the power of memes with an immersive gaming experience and a unique investment option with the potential for high returns.

The world of #memecoins can be a rough place, but #MemeKombat is coming in hot 👊 pic.twitter.com/EotbPRQMyh

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Meme Kombat stands out in the crypto market by combining betting and staking, offering investors the opportunity to earn rewards.

Many investors are now wondering whether Meme Kombat could become the next Pepe Coin or Dogecoin, given its rapid momentum during the presale. Some are even confident that this new player will be the next cryptocurrency to explode.

The Meme Kombat presale is selling out fast! Meme Kombat (MK) has already raised $307,316 of its $1 million target in its ongoing presale, indicating significant investor interest. You can acquire the MK token at its current price of $1.667.

Crypto experts, including YouTubers like Jacob Bury, Crypto Gains, and Cryptonews, have expressed their positive views on the coin’s potential to achieve a 100x return on investment.

In this video, Cryptonews explains why $MK could skyrocket, as we’ve observed signs of a bull market in the last few days.

This innovative gaming platform generates excitement within the crypto community and is gaining recognition as a potential successor to PEPE, the meme coin that gained popularity earlier this year.

Earn a Staggering 112% APY in Early Sale!

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Meme Kombat’s early success and support from influencers suggest it could become a significant player in the meme coin space.

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To buy $MK tokens, connect your Web3 wallet to the Meme Kombat website and use Ethereum (ETH), Tether (USDT), and Binance Smart Chain (BNB).