The crypto market since the beginning of the year 2022 is become more uncertain as the popular cryptos is experiencing huge volatility in either directions. The asset gain a considerable amount in their value but very quickly theytend to shed their gains.
And hence dragging the value of the asset into same levels as before. A similar scenario was witnessed with the Avalanche(AVAX) price but to be distinct from the other market trend, the asset is more poised to attain a 3-digit figure very soon.
The AVAX pric had maintained a considerable uptrend since the last few days of January 2022 which it carried until the asset smashed the monthly highs at $95.5. Here the DeFi token had bragged-through the consolidated uptrend to pull a massiv eleg up, but woefully the asset reentered the parallel channel speculating a bearish trend. But the recent strong flip from the bearish trend from the past trading day manifested the strength in the asset.
The AVAX price ever since flipped the bearish trend after hitting the lows at $52.95 maintained a notable uptrend. Interestingly, the asset ranged high to slice throught he important resistance levels in between $87 and $89 but it turned out to be fakeout.
However, without wasting more time, the asset flipped hitting the lower support levels of the formed ascending triangle, which is considered as one of the most bullish indicator. The price is again testing teh same resistance zone within the triangle and eventually may make it as the buying pressure is accumulated with decent levels.
The Avalanche price could barge-in through these levels and eventually hit the upper and the crucial resistance at $96. These are also the upper bands of the ascending triangle which may fuel the next uptrend that may assist the price to hit a 3-digit figure very soon.
Here the asset needs to be pretty careful as the bears appear to be quiet alert at this stage and may be ready to extract their profits. The AVAX price may experience an interim pullback here but may hover around $100 firmly as the asset is poised to hit the ATH at the earliest.