AVAX price started the week on a higher note and continued to print the gains. The price faces resistance near three-month highs near $103.However, the downside risk remains limited as the current price action suggests strong buying momentum.
- AVAX price locks in meticulous gains on Saturday.
- Bulls aim for $120 on a decisive close above $102.
- The momentum oscillators tilt in favor of bullish sentiment.
AVAX price look for further gains
Source: Trading view
AVAX price is making efforts to continue moving north as tested the levels last in January. A strong green candlestick indicates the underlying bullish current in the asset. Next, if the price is able to breach the highs of March 5 at $106.59 then it would be easier for the bulls to march higher.
A resurgence in the buying pressure would push into a higher trajectory toward the psychological $120.0 level.
On the other hand, a shift in the bearish sentiment could result in the pullback in the price towards the lows of sessions at $96.07.
Next, a daily close below the critical $90.0 level would trigger a fresh round of selling in AVAX. The sellers would next aim for the 50-day EMA (Exponential Moving Average) at $82.55.
As of press time, AVAX/USD is trading at $102.65, up 6.34% for the day. The 10th largest cryptocurrency is holding the 24-hour trading volume at $1,718,502,769 as per the CoinMarketCap.
Technical indicators:
RSI: The Relative Strength Index traded above the average line since March 17. Currently, it reads at 70.
MACD: The Moving Average Convergence Divergence shows strong bullish momentum above the central line.
Trading volume: The On-balance volume reflects the force of demand-driven growth in the prices.
The post Avalanche Price Prediction: AVAX Jumps 7%; Keep Eyes On $120.0 appeared first on cryptotimes24.com.
