Analyzing the potential of young cryptocurrencies, which showed themselves quite actively both in growth in January 2021 and after the May correction, we stopped at the AVAX cryptocurrency. This coin has behaved quite confidently over the past month. Investors who bought AVAX cryptocurrency from 20 July to 1 August increased their deposits by at least 300%.
The Avalanche cryptocurrency is in the top-14 in terms of daily trading volumes. This fact allows big money to comfortably carry out trading operations without missing out on high volatility. Though, if you want to buy AVAX cryptocurrency, it is worth knowing a few facts and critical points on the price chart. And if you are interested in stable crypto trading with low risks and good profitability – join our trade marathon!
AVAX Cryptocurrency Final Growth Target Is $220
After such a strong growth wave of the AVAX cryptocurrency, we really want to see how much buyers are willing to keep the price. In fact, there was not a single correction during the growth of the Avalanche price. But from the depth of the correction and the volumes at which it will take place, it will be easier for us to determine who is stronger at the moment: buyers or sellers.
If buyers aggressively include purchases from the range of $38-40 and the price below will not be admitted, then soon we should expect an update of the absolute high of the AVAX price. And after that it will be possible to aim at growth to the level of $140.
If our correction is delayed in time and depth, then it will be possible to forget about the rapid growth in the AVAXUSD pair for 1-2 months. However, there is also a plus here. As long as buyers accumulate positions, it will give them more time to rest and gain strength for the next upward movement.
Accordingly, a successful purchase of AVAX cryptocurrency in the $19-24 zone can increase our deposit by x10 times. Since the target for taking profit in such a trading situation may be in the $200-215 range.
The AVAX Price In Pair To Bitcoin Has Reached A Critical Point Again
For a deeper forecast of the AVAX cryptocurrency, we analyzed the price movement in a pair to Bitcoin. As we can see on the chart, buyers can no longer continue to push the price up. Therefore, the probability of a correction in the AVAXBTC market is very high. Now, it is very important to wait for how much Bitcoin falls so as not to find yourself in a correctional trap for the second time.