Avalanche Price Prediction for Today, December 2 – AVAX Technical Analysis

The Avalanche price prediction shows that AVAX is currently facing resistance around $50, with a short-term pullback expected.

Avalanche Statistics Data:

• Avalanche price now – $49.74
• Avalanche market cap – $20.11 billion
• Avalanche circulating supply – 409.29 million
• Avalanche total supply – 447.63 billion
• Avalanche CoinMarketCap ranking – #10

Avalanche (AVAX) demonstrates the value of early adoption in cryptocurrency, rising an extraordinary +1735.81% from its all-time low of $2.79 on December 31, 2020 . Early investors have reaped significant rewards as the token climbed to an all-time high of $146.22 on November 21, 2021. Despite current fluctuations, with a 24-hour range between $44.73 and $52.07, AVAX showcases the transformative potential of recognizing opportunities early in the ever-evolving crypto market.

AVAX/USD Market

Key Levels:

Resistance levels: $58, $60, $62

Support levels: $36, $34, $32

AVAXUSD – Daily Chart

Looking at the daily chart, AVAX/USD has recently encountered a significant resistance level near $50. This resistance level was tested earlier today but was unable to be surpassed, resulting in a brief price pullback. Despite this, such fluctuations are not necessarily bearish but are often indicative of healthy market corrections. The primary concern now is whether AVAX can maintain its upward momentum in the face of a broader market trend where Bitcoin dominance is rising.

Avalanche Price Prediction: Will Avalanche Move Higher?

Looking at the broader market conditions, it’s clear that the current resistance at $49.74 is pivotal for any future bullish breakout. The price action suggests that, under these market circumstances, AVAX may struggle to break this level unless the overall sentiment improves. If the general market environment were more favorable, traders could expect a clearer upward movement toward the next resistance at $64, which marks the highs of March. However, the Avalanche price may cross above the upper boundary of the channel if the bulls defend the $50 level. Therefore, any further bullish movement may locate the potential resistance levels of $58, $60, and $62.

Nonetheless, the technical picture for AVAX suggests that despite some recent challenges, the underlying trend remains bullish. Since the start of November, AVAX has been respecting an uptrend, which is likely to hold barring any drastic shifts in market conditions. This trend indicates that, even if AVAX dips to the $41-$42 range due to short-term market weakness, the overall price action supports the likelihood of a rebound. Therefore, this technical analysis may be invalidated if the bears break below the moving averages which could hit the support levels at $36, $34, and $32. Meanwhile, the 9-day moving average remains above the 21-day moving average, suggesting more bullish movements.

AVAX/BTC Heads to the North

The AVAX/BTC daily chart indicates a strong bullish trend, with the price currently trading at 5132 SAT, marking a significant 10.60% increase for the day. The price is well above both the 9-day and 21-day moving averages, which are also sloping upward. This alignment confirms bullish momentum, as the 9-day MA at 4605 SAT acts as immediate support. The chart also reveals that AVAX is trading near the upper boundary of a rising channel, indicating the possibility of further gains if momentum continues.

AVAXBTC – Daily Chart

Meanwhile, the key resistance level to watch is 6000 SAT and above, corresponding with the upper boundary of the channel. A breakout above this level could lead to a sustained rally. On the downside, the 4000 SAT level and below serve as crucial support, aligned with the lower boundary of the channel. A break below this support could lead to a deeper pullback, potentially testing lower levels. However, with increasing volume supporting the recent uptrend, the overall sentiment remains bullish as long as AVAX holds above its key moving averages and stays within the channel.

Nevertheless, @JavonTM1 shared with his 46k followers on X (formerly Twitter) that $AVAX (Avalanche) is defying its name by climbing steadily uphill, targeting a significant level at $126.03. Even at this milestone, further gains could be on the horizon, as current price action suggests an impressive potential move of over 153% from current levels to reach this key target.

Avalanche Alternatives

According to the daily chart, the short-term outlook for AVAX/USD includes potential pullbacks and consolidation, but the long-term technical analysis remains bullish. However, the price is likely to retest the $50 resistance level, and with sufficient market improvement, it could break through to higher targets, including $60 and $64. Meanwhile, Pepe Unchained ($PEPU) is emerging as a notable player in the cryptocurrency space, with its ICO raising $65.6 million and offering tokens at $0.01295 each.

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With $66 million already raised and robust social media momentum, $PEPU is poised for a significant upside as it targets listings on major exchanges . Its lower transaction fees, faster speeds, and development-focused tokenomics make it a standout choice in the meme coin market. Don’t miss the chance to diversify into this high-potential token during the bullish altcoin season – act now before the ICO ends.

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