Avalanche (AVAX) Price Prediction: Insights and Analysis

Avalanche (AVAX) Price Prediction: Can It Reach $70?

Over the past week, Avalanche (AVAX) price has experienced a significant increase, accumulating a 21.93% growth. Despite its recent surge in value, the Relative Strength Index (RSI) remains healthy, suggesting that AVAX might grow further.

Currently, 75% of AVAX holders are in a profitable position. Historical data shows that this level often serves as a critical tipping point for AVAX, indicating that the asset could be at a pivotal moment for future performance.

AVAX RSI Is Close to 70, but It's Still Healthy

Over the past few days, there has been a noticeable decrease in the 7-day Relative Strength Index (RSI) for AVAX, dropping from 75 to 69. Despite this decline, its price astonishingly surged from $40 to $61 within a week.

• The RSI is a momentum oscillator that evaluates directional price movements.
• AVAX's RSI decrease and price surge suggest robust investor confidence or intrinsic value recognition.

Should the RSI maintain below the overbought mark, it could signal continued investor interest and potential price appreciation.

75% of AVAX Holders Are Now Profitable

An impressive 75% of AVAX holders are in a profitable position after the recent market value surge. This indicates investor confidence and a shift from previous stability.

1. Historical Break Even Price offers insights into investment profitability.
2. Holdings still below all-time high, hinting at potential sustained appreciation.

If the uptrend continues, a journey to $70 for AVAX is plausible, contingent on breaking key resistances.

AVAX Price Prediction: Journey to $70 Again?

The IOMAP chart shows key support zones at $58 and $56, crucial for averting substantial price drops.

• Breaking resistances at $63, $65, and $67 could pave the way for a $70 target.
• Failure to hold support levels may lead to bearish pressures with a possible retreat.