Avalanche (AVAX) Eyes $100 amid Massive Bullish Comeback
- Avalanche price flipped the $78.96 obstacle into a foothold and seemed to initiate similar moves around the $86.49 value area.
- Overcoming the barrier might propel AVAX towards the psychological zone at $100.
- A daily candle closes beneath support of $78.96 will cancel the bullish narrative.
Avalanche (AVAX) struggled to initiate steady uptrends amid many pullbacks. Nevertheless, bears surrendered on 22 February, translating to the ongoing upswing.
Avalanche Price Still Surges
Avalanche printed a swing low around $64.49 on 24 February, gaining nearly 31% within the next 48 hours. That had the token flipping the resistance at $78.96 into a support barrier. However, Avalanche erased the action before slight uptrends.
Bitcoin’s swift comeback had altcoins climbing higher. That saw AVAX surging 25%, overpowering another weekly obstacle at $86.49. Maintaining above this level might see Avalanche continuing its upsurge.
Such developments will have the alt running towards the closest obstacle at $98. Meanwhile, market makers can push AVAX high to gather buy-stop liquidity beyond the area. That would mean an upswing to the psychological level at $100, following a 15% surge. Moreover, the token can form a local high here.
Though the overall crypto space display bullish motion, Avalanche price should maintain above $86.49 to prevent downswings. Violating the barrier might hinder upticks, catalyzing a drop to $78.96. Buyers can join in this area and challenge the closest hurdle before retesting the $86.49 zone.
Meanwhile, a 24-hour candle close under the support floor at $78.96 will trigger a lower low. Such a move would mean bearish influence, ruining the bullish narrative.
A 4hr outlook reveals a bullish stance for Avalanche price as the token maintained uptrends since the day started. Furthermore, AVAX rallied over the past day as bulls took the lead. For now, the alt retains bullish sentiments.
The MA sits at a lower zone – $79.8. Nevertheless, the 20SMA curve crossed the 50 Simple Moving Average amid substantial price surges. Four-hour timeframe Bollinger bands highlight increased volatility, the bands expanding continuously.
The indicator’s upper limit sits at $87.4, while the lower border stands at $72.3, the token’s price slow trading around the topside line. The RSI maintained upside, approaching the overbought limit near 63-index. Nevertheless, the curve flattened a bit, suggesting buying activity slowed down.