Avalanche price up 10% today, eye on $65 next?

As the price of Bitcoin remains above the $100k mark, the crypto market has shown a strong bullish recovery in the last 24 hours. Moreover, the price of AVAX has surpassed the top crypto tokens with a double-digit rally this season.

Moreover, when the current index of altcoin turns bullish, investors want to know the questions about the current rally of altcoin. In this article, CoinPedia's expert panel has released the short-term prospects of the Avalanche (AVAX) token.

AVAX price has regained the $50 mark!

With a strong bullish recovery, Avalanche price regained the $50 mark. Despite a correction of 5.37% in seven days, it is up 42.43% in the last 30 days and has opened 2x the investor's portfolio in the last 37 days.

The Relative Strength Index (RSI) successfully tested the neutral point on the daily time frame. Additionally, with the moving average trend line hovering over the overbought region, the Avalanche price may continue to gain value this week.

On the other hand, the SMA indicator shows a positive crossover possibility on the AVAX price chart. This suggests an optimistic outlook for the altcoin in the near future.

Will Avalanche Price Reach New 52-Week High?

Keeping the price above the $50 mark could see it retest the $57.20 mark in the coming weekend. If the bullish price action consolidates at that point, the Avalanche token could head towards the $65.50 high resistance level this year.

However, if a trend reversal occurs, AVAX token may retest the support level of $48.45. Furthermore, if the bears continue to strengthen, this altcoin may drop to a low of $39.30.

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