Popular crypto analyst and trader, Michael van de Poppe, took to Twitter yesterday to share some of his thoughts on Avalanche (AVAX) and what the price of the cryptocurrency could do in the near future. In his tweet, van de Poppe also explored what could happen if AVAX’s price is able to stay above $16.85.
AVAX / Tether US 4h (Source:TradingView)
The tweet from yesterday mentioned that the support for AVAX was around $17.17 at the time. Van de Poppe concluded the tweet by stating that if AVAX could stay above $16.85, the price of the crypto will likely target higher prices. He also believes AVAX’s price could rise as high as $18.50 or even $19.50 if the crypto can stay above the aforementioned level.
AVAX price (Source: CoinMarketCap)
CoinMarketCap indicates that AVAX has been able to stay above $16.85 since yesterday despite a slight price decrease. At press time, AVAX is trading hands at $17.40 after a 0.88% price drop over the last 24 hours. During this time, the altcoin was able to set a daily high of $17.72 and a daily low of $17.30.
AVAX’s drop in price also caused it to weaken against Bitcoin (BTC) by about 0.61% and Ethereum (ETH) by 0.94%. The 24-hour trading volume for AVAX is currently down 28.77%, and stands at $91,861,378 at press time.
CoinMarketCap also indicates that AVAX is still in the green by 1.20% over the last week despite the crypto’s recent price drop. AVAX also experienced a 0.19% gain over the last hour of trading.
Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.
The post Trader Explains Why It Is Important For AVAX To Stay Above $16.85 appeared first on Coin Edition.
See original on CoinEdition
Source: Cryptocurrency - investing.com
