Bitcoin

Resistance

Avalanche

AVAX price rallied over 50% and climbed above $22.50. The price might correct lower but there could be more upsides above $25. 
<ul> 
 <li>AVAX price is showing a few positive signs above the $20 level against the US dollar.</li> 
 <li>The price is trading above $22 and the 100 simple moving average (4 hours).</li> 
 <li>There is a key bullish trend line forming with support near $20.50 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 $24.50 and $25.00 resistance levels.</li> 
</ul> 
<h2 id="avax-price-doubles-in-value-in-few-days">AVAX Price Doubles In Value In Few Days</h2> 
After forming a base above the $10.00 level, Avalanche’s AVAX started a major rally, outperforming <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-signals-bearish-pattern-38k/" target="_blank" rel="noopener ">Bitcoin</a> and <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-holds-ground-1935/" target="_blank" rel="noopener ">Ethereum</a>. There was a clear move above the $15 and $20 resistance levels. 
The price gained over 50% in the past few days and even cleared the $22.50 resistance. A new multi-week high was formed near $24.70 and the price is now consolidating gains. There was a minor decline below the $22.50 level. 
The price declined below the 23.6% Fib retracement level of the upward move from the $15.59 swing low to the $24.70 high. However, the bulls were active above $20.00. 
AVAX price is now trading above $22.00 and the 100 simple moving average (4 hours). There is also a key bullish trend line forming with support near $20.50 on the 4-hour chart of the AVAX/USD pair. On the upside, an immediate resistance is near the $24.50 zone. 
<a href="https://www.newsbtc.com/wp-content/uploads/2023/11/AVAX-Price.png?resize=1024%2C468"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-561128" src="https://www.newsbtc.com/wp-content/uploads/2023/11/AVAX-Price.png?resize=1024%2C468" alt="AVAX Price Prediction" width="1024" height="468" srcset="https://www.newsbtc.com/wp-content/uploads/2023/11/AVAX-Price.png?resize=1024%2C468?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2023/11/AVAX-Price.png?resize=1024%2C468?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2023/11/AVAX-Price.png?resize=1024%2C468?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2023/11/AVAX-Price.png?resize=1024%2C468?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2023/11/AVAX-Price.png?resize=1024%2C468?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2023/11/AVAX-Price.png?resize=1024%2C468?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2023/11/AVAX-Price.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 $25.00 zone. If there is an upside break above the $24.50 and $25.00 levels, the price could surge over 20%. In the stated case, the price could rise steadily towards the $30 level. 
<h2 id="dips-limited-in-avalanche">Dips Limited in Avalanche?</h2> 
If AVAX price fails to continue higher above the $24.50 or $25.00 levels, it could start a downside correction. Immediate support on the downside is near the $22.50 level. 
The main support is near the $20.50 zone. A downside break below the $20.50 level could open the doors for a fresh decline towards $18. The next major support is near the $15.50 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 – $22.50 and $20.50. 
Major Resistance Levels – $24.50, $25.00, and $30.00.

AVAX Price Prediction: Avalanche Bulls Are Just Getting Started

Table of Contents

NewsBTC

Other articles published on Nov 17, 2023

Monopoly GO Surpasses $1 Billion Milestone in Mobile Gaming

Meta Unveils Groundbreaking AI Tools: Emu Video and Emu Edit

BTC Dominance Likely to Rise in the Next Month, Says Analyst

Solana’s Revival: Jupiter Airdrop to Enrich Nearly One Million Wallets!

Menghadapi Bitcoin Halving 2024, Ini Data Penting Menurut Analis

Bitcoin (BTC) – The Unsolved Problems Despite the Price Surge

Join our free newsletter for daily crypto updates!