Here's How Avalanche (AVAX) Could Nearly Double in Price, According to Popular Crypto Analyst

A much-followed crypto analyst is offering a key indicator for Ethereum competitor Avalanche (AVAX).

Michaël van de Poppe told his 623,400 Twitter followers that Avalanche and many other altcoins fell below their 50-day moving averages due to a price correction last week. The trader said if the tokens can regain that moving average, it will trigger a “serious” rally.

“A re-confirmation of [50-day moving average] will trigger some serious triggers, same goes for AVAX.”

Source: TradingView

AVAX is trading at $23.19 at the time of writing. The 14th-ranked crypto asset by market capitalization is down 1.4% in the past 24 hours.

Van de Poppe also noted that Ethereum (ETH) competitor Fantom (FTM) is currently consolidating and waiting to see if the US dollar reverses its uptrend. Analyst Prediction,

“Daily order volume around $0.25 is major support. If a reversal takes place, a quick run to $0.365-0.37 is possible.”

Source: TradingView

FTM is trading at $0.307388 at the time of writing. The 65th-ranked crypto asset by market capitalization is up 0.16% over the past 24 hours. Van de Poppe also noted that Bitcoin's recent price stability could signal strength.

“Well, it's good that Bitcoin is still stable, while the rest is plummeting. If the Euro reverses and stocks hint at a rally, then Bitcoin could have some relative strength. Bitcoin (BTC) is trading at $21,532 at press time, up 0.33% over the past 24 hours.

Aug 25, 2022

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