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In this article, we share a recent Avalanche Analysis (AVAX) previously shared in our featured group. Our analysts expect this price to drop in the coming period, which is why we explain how you can still benefit from this at the end of this article. Not yet a member or still have questions after reading this article? Then try our premium membership for free for 30 days. Not yet a member or still have questions after reading this article? Then try our premium membership for free for 30 days.
Can bitcoin go higher than that?
Crypto Insiders predict another bitcoin rally, as can be read here. Bitcoin fell sharply after peaking at $28,900, and then fell below $27,000. At the time of writing, the price is already back on the verge of testing $28,000. According to analysts, AVAX looks bearish, but this may also present opportunities.
Technical analysis AVAX price
AVAX price is mostly moving sideways in a trend channel between $16 and $18 for about 2 weeks. However, analysts expect volatility to increase significantly. They state the following about this in a new analysis:
“In the previous analysis, a red sell zone was indicated based on the ABC Elliott wave pattern. The price has now reached there and has already encountered strong resistance several times. This is an important bearish signal and is in line with our expectations.
We still anticipate a possible sharp decline, considering the green zone between $13.42 and $12.09 as our first target. Here we want to consider a re-entry, but first we want to take advantage of the expected decline.
Once it becomes clear how this decline occurred, you can find a new analysis of AVAX in the Premium environment next week.”
Make a profit when the price goes down?
The cryptocurrency market is volatile and constantly changing. Often, after each increase, a decrease follows. Experienced traders and analysts So use Bybit To make a profit in a declining market. With so-called short positions, you can profit when you expect the price to go down. Plus, you’ll get a $20 bonus after your first trade!
Analysts and traders can help with this in our Premium environment for Crypto Insiders. You will also receive fresh weekly technical analysis for more than 20 cryptocurrencies. For more information, take a look at our Premium info page and try the first 30 days for free.
Disclaimer: Investing involves risks. Our analysts are not financial advisors. Always consult an advisor when making financial decisions. The information and advice provided on this site is based on the insights and experiences of our analysts. So, these are for educational purposes only.