- Avalanche token had boosted its price to over +830% in the past week.
- AVAX is expected to reach over $35 within a week.
- Bullish AVAX price prediction in 2021 is up to $50.
- Recently, Avalanche integrated with SIMBA, allowing developers to create powerful apps easily.
Avalanche (AVAX) surprised the crypto world in the past week. Specifically, it surged to over 830%. As a result, AVAX is now on the close watch by investors around the world.
In terms of market position, the market capitalization of AVAX amounts to almost $2.18 billion. Furthermore, AVAX has an average daily trading volume of over $662 million. For interested crypto traders, the crypto trades at exchanges such as Binance, BKEX, Hotbit, etc.
Moreover, with these recent developments, is AVAX a good investment in 2021? Let’s find out in this AVAX price analysis 2021 article.
Avalanche (AVAX) Price Analysis
AVAX has shown a great performance in the past days despite the wild market swings of the crypto world. Also, the graph displays the price of surge of the crypto to over +830% in the past weeks. Today, AVAX trades at a high price of $31.7 with an increased rate of +31.8% in the past 24 hours.
Meanwhile, the relative strength index (RSI) of the crypto is already at its overbought state. For this reason, traders, especially scalp and day traders, must trade with caution because AVAX might trigger a price reversal any time, as shown in this Avalanche price prediction.
If this uptrend continues, AVAX can be seen to run along with the bulls in breaking the resistance level of $27.30, which can lead to a high price of $34.75.
If it does, traders can predict the price of the AVAX to reach $50, a bullish price with almost +72% from its current price. Of course, this most likely will happen if the bullish market remains in favor of the crypto.
On the contrary, if the AVAX price fails to maintain its position with the bulls, the crypto might break down from its bullish position and fall down along with the bears at the support level of $15.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.