AVAX Price Surges to 7-Month High, Analysts Predict Further Gains to $50-$65
-
AVAX price has more than doubled in December, reaching $46.40 which is the highest level since May 2022. It broke out of a long-term descending resistance.
-
The weekly RSI indicator suggests the uptrend still has momentum to continue.
-
Some analysts predict AVAX will reach $50-$65 based on bullish technical patterns and indicators.
-
The daily chart suggests AVAX is in the fifth wave of an Elliott Wave pattern that could take it to $59.
-
A daily close below $44 would indicate a potential top, with 50% downside risk back to $22 support if that happens.