AVAX Targets 25% Price Increase as Bulls Prepare to Enter the Triple Digit Territory

Avalanche (AVAX) is one of the best performing coins amongst the top 20 by market cap and looks set to cross the $100 mark soon.

AVAX Eyes the $100 Mark

AVAX is the latest cryptocurrency to reach a new all-time high after rallying to the $95 level earlier today. The native coin of the Avalanche ecosystem is up by more than 12% over the past 24 hours and is currently trading above the $93 mark.

AVAX reached a new all-time high of $95 less than an hour ago, but it is currently trading above $93 per coin. The cryptocurrency’s price has experienced a massive increase over the past 20 days and is currently preparing to reach the $100 mark. This would be the first time AVAX is reaching a triple-digit figure.

Since the start of the move, AVAX has rallied by 56% and has the potential to surge even higher in the coming days and weeks. The cryptocurrency would need to rally by as much as 10% over the next few hours to stand a chance of crossing the $100 level.

A highly bullish scenario could see the Avalanche bulls take the cryptocurrency’s price as high as $130 in the coming hours, making it a 60% increase in price within 48 hours.

AVAX Could Also Retrace

However, AVAX could also retrace as the bulls could be exhausted following a rally that has lasted for 20 days. Avalanche could dip to the daily demand zone, between the $72 and $81 points. The dip will allow the bulls to get ready for another rally.

The recent rally was further fueled by the creation of a $200 million ecosystem fund by the Avalanche Foundation. The foundation will use the funds across a wide range of activities, including equity investments, token purchases, ecosystem integration support and more. Avalanche follows the likes of Enjin in setting up a fund to support ecosystem growth.

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