AVAX Price Prediction: Can AVAX Retain $50 Amid a Retracement?
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1 AVAX coin displays a retracement and has retested the 50-Day EMA mark.
2 Buyers look strong and are looking to stretch the pullback toward $50.
Avalanche coin (AVAX) replicated a rebound from the demand zone of $20 and has retested the round mark of $50 in the previous sessions. However, the coin failed to sustain the mark and faced profit booking, which led to a retracement. However, the coin has retained strength and suggests a breakout above $50 is imminent. Moreover, the coin displays buyer accumulation as the bulls try to stretch the pullback.
AVAX coin price is trading near the 50-Day EMA support mark and is hovering close to the lower trendline, below $35; the coin may decline toward $30. Conversely, if a pullback happens, buyers will stretch the pullback toward $45, followed by $50 soon. However, the trend is neutral, and any major rally could only be triggered once the $50 mark was breached.