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

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.

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.

$AVAX
(Avalanche)
continuing
to
move
opposite
of
that
an
avalanche,
uphill,
rapidly
towards
a
key
target
level
at
$126.03,
but
even
at
that
point,
AVAX
could
be
set
for
more!

Currently,
prices
look
well
positioned
for
an
over
153%
move
from
here
to
reach
this
$126.03
level!

https://t.co/5bjFM203R3

pic.twitter.com/uciPC1qmXr

—
JAVON⚡️MARKS
(@JavonTM1)

December
2,
2024

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
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player
in
the
cryptocurrency
space,
with
its
ICO
raising
$65.6
million
and
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each.

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