Price Analysis for AVAX Predicts it may Hit Price of $147 or a Low Price of $75.50

The data surrounding Avalanche (AVAX) shows that its price went above $104, which is the 20-day EMA for AVAX. According to performance data, AVAX managed to achieve the particular figure on the 20th of December.

This meant that the bulls were not going to let the price of AVAX experience a dip. They continued building rallies as soon as there would be a dip in the price of AVAX. This is the reason why the price of AVAX has managed to sustain itself over the 20-day EMA.

According to the Fibonacci retracement, the price of AVAX was able to move over the 61.8% line. This helped AVAX grow all the way up to $119.69 on December 21, 2021.

The rise in the price meant that the bulls have the ball in their court. They now have strong sentiments about the price of AVAX, therefore, they have increased their buying power to move it higher in the upcoming days.

According to the Fibonacci retracement graph, the price of AVAX may grow over the 78.60% line. However, the particular line may prove to be a strong resistance point where the bears may try to build pressure with their selling power.

The particular resistance point for AVAX at present is $131.70. If things work out for bulls and they continue building momentum, AVAX may be able to hit another all-time high.

The data from TradingView suggests that AVAX may succeed in hitting $147, which would be the all-time high for AVAX. That would trigger another strong rally for AVAX and its price may grow to new heights.

As of now, the performance for AVAX is in the bullish zone. Even the RSI is supporting the bullish zone, which means that its price may continue growing in the upward direction.

For now, the general sentiments for AVAX are in the bullish section, which means that the bulls may continue pouring in money to accumulate on AVAX. This may continue surging the price of AVAX to all-time highs and keep pushing it in the higher direction.

On the other hand, if the bears go strong on selling AVAX, they may be able to create a selling spree for the digital asset. Their attempt would be to bring AVAX below the 20-day EMA mark.

If that happens, the price of AVAX may fall below the 20-day EMA and it may continue dropping. The price of AVAX may fall below the $104 price and may continue falling below the $90 mark. If the bears continue increasing their selling power, they may end up bringing the price of AVAX below the $75.50 price.