Rally

Bitcoin

Resistance

Avalanche

AVAX price is showing positive signs above the $20 support. Avalanche bulls seem to be in control, and they might aim for a rally toward $25. 
<ul> 
 <li>AVAX price is showing positive signs above the $20 level against the US dollar.</li> 
 <li>The price is trading above $21 and the 100 simple moving average (4 hours).</li> 
 <li>There is a key bullish trend line forming with support near $20.60 on the 4-hour chart of the AVAX/USD pair (data source from Kraken).</li> 
 <li>The pair could continue to rise if there is a clear move above the $22.50 and $23.00 resistance levels.</li> 
</ul> 
<h2 id="avax-price-signals-fresh-rally">AVAX Price Signals Fresh Rally</h2> 
After a strong increase, Avalanche’s AVAX faced resistance near the $24.00 zone. It started a downside correction from $24.05 but remained in a positive zone, like <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-consolidates-37550/" target="_blank" rel="noopener ">Bitcoin</a> and <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-rally-jeopardy-2075/" target="_blank" rel="noopener ">Ethereum</a>. 
There was a drop below the $23 and $22 levels. The price declined below the 50% Fib retracement level of the upward move from the $15.60 swing low to the $24.05 high. It even spiked below the $20 support zone. However, the bulls were active above $18.80. 
AVAX price found support near $18.80 and the 61.8% Fib retracement level of the upward move from the $15.60 swing low to the $24.05 high. It is again moving higher and trading above the $20 level. 
There was a move above the $21 zone and the 100 simple moving average (4 hours). There is also a key bullish trend line forming with support near $20.60 on the 4-hour chart of the AVAX/USD pair. On the upside, an immediate resistance is near the $22.50 zone. 
<a href="https://www.newsbtc.com/wp-content/uploads/2023/11/AVAX-Price-1.png?resize=1024%2C468"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-563118" src="https://www.newsbtc.com/wp-content/uploads/2023/11/AVAX-Price-1.png?resize=1024%2C468" alt="AVAX Price Prediction" width="1024" height="468" srcset="https://www.newsbtc.com/wp-content/uploads/2023/11/AVAX-Price-1.png?resize=1024%2C468?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2023/11/AVAX-Price-1.png?resize=1024%2C468?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2023/11/AVAX-Price-1.png?resize=1024%2C468?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2023/11/AVAX-Price-1.png?resize=1024%2C468?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2023/11/AVAX-Price-1.png?resize=1024%2C468?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2023/11/AVAX-Price-1.png?resize=1024%2C468?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2023/11/AVAX-Price-1.png?resize=1024%2C468?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
Source: <a href="https://www.tradingview.com/symbols/AVAXUSD/" target="_blank" rel="noopener nofollow">AVAXUSD on TradingView.com</a> 
The next major resistance is forming near the $23.00 zone. If there is an upside break above the $22.50 and $23.00 levels, the price could surge over 10%. In the stated case, the price could rise steadily towards the $25 level. 
<h2 id="dips-limited-in-avalanche">Dips Limited in Avalanche?</h2> 
If AVAX price fails to continue higher above the $22.50 or $23.00 levels, it could start another decline. Immediate support on the downside is near the $20.60 level and the 100 simple moving average (4 hours). 
The main support is near the $19.50 zone. A downside break below the $19.50 level could open the doors for a fresh decline towards $18.80. The next major support is near the $15.80 level. 
Technical Indicators 
4 hours MACD – The MACD for AVAX/USD is gaining momentum in the bullish zone. 
4 hours RSI (Relative Strength Index) – The RSI for AVAX/USD is now above the 50 level. 
Major Support Levels – $19.50 and $18.80. 
Major Resistance Levels – $22.50, $23.00, and $25.00.

AVAX Price Prediction: Avalanche Rally Just Getting Started?

Indice dei contenuti

NewsBTC

Altri articoli pubblicati su 30 nov 2023

RARI Foundation Launches Testnet for RARI Chain on Arbitrum, Introduces Royalty-Embedded NFT Ecos...

How a quant sniped millions from Bitcoin Ordinals

Swiss Asset Manager Pando Asset Joins U.S. Bitcoin ETF Race as BlackRock Refines Model with SEC

Binance settlement ‘net positive’ for cryptocurrency industry — Mike Novogratz

How to Buy Ethereum Using Trust Wallet: A Visual Guide

Bitcoin Price Stalls Below $38,000 Amid BlackRock-SEC Talks

Iscriviti alla nostra newsletter gratuita per aggiornamenti giornalieri sulle criptovalute!