Avalanche price is at the cusp of breaching a crucial resistance level, which could largely impact the overall profits of AVAX holders.

However, historical occurrences make this probability slightly thinner, evoking the question of whether investors will bear profits soon or if they will have to wait longer.

Avalanche Price Close to Noting Half-Century

Avalanche price, trading at $47 at the time of writing, has risen by over 10.6% in the last 24 hours, crossing the $44 resistance earlier in the day. The next barrier for the altcoin is set at $50, which is not only an important psychological resistance but also an important technical level.

Over 300,000 AVAX holders have been waiting for this moment since December 2023. About 9.16 million AVAX worth more than $436 million sits at this price point. Bought at an average of $53, this supply would become profitable once the $50 resistance is flipped into support.

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Author: Aaryamann Shrivastava

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