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<a href="https://bitcoinworld.co.in/avax-price-pumped-and-dumped-is-uptrend-still-strong/" title="AVAX Price Pumped And Dumped, Is Uptrend Still Strong?" rel="noopener noreferrer nofollow"></a>
In the past few days, Avalanche’s AVAX saw a strong <a href="https://bitcoinworld.co.in/avalanches-avax-token-rallies-despite-crypto-market-downturn/" rel="noopener noreferrer nofollow">increase</a> above the $25 resistance zone. It gained over 50% and broke many hurdles near $30. It even cleared the $40 level before the bears appeared.
A new multi-month high was formed near $43.06 before the price started a downside correction, like Bitcoin and Ethereum.&nbsp;
<figure id="attachment_57603" aria-describedby="caption-attachment-57603" style="width: 100%" class="wp-caption aligncenter"><img fetchpriority="high" decoding="async" class=" wp-image-57603" src="https://bitcoinworld.co.in/wp-content/uploads/Avalanche-Price-Chart-2-483x300.png" alt="" width="510" height="317" srcset="https://bitcoinworld.co.in/wp-content/uploads/Avalanche-Price-Chart-2-483x300.png 483w, https://bitcoinworld.co.in/wp-content/uploads/Avalanche-Price-Chart-2.png 760w" sizes="(max-width: 510px) 100vw, 510px">
 <figcaption id="caption-attachment-57603" class="wp-caption-text">
 Avalanche Price Chart | Source: <a href="https://coinstats.app/coins/avalanche-2/" rel="noopener noreferrer nofollow">Coinstats</a>
 </figcaption>
</figure>
&nbsp;
There was a 15% drop and the price traded below the $38 level. There was a move below the 23.6% Fib retracement level of the upward move from the $21.24 swing low to the $43.06 high.
AVAX price is still trading above $30 and the 100 simple moving average (4 hours). There is also a key bullish trend line forming with support near $35.00 on the 4-hour chart of the AVAX/USD.
On the upside, an immediate resistance is near the $38.00 zone. The next major resistance is forming near the $40.00 zone.&nbsp;
If there is an upside break above the $38.00 and $40.00 levels, the price could surge over 10%. In the stated case, the price could rise steadily toward the $45 level.
See Also: <a class="row-title" href="https://bitcoinworld.co.in/will-polygon-matic-rally-on-portal-launch-and-fifa-nft-deal/" aria-label="“Will Polygon MATIC Rally On Portal Launch And FIFA NFT Deal” (Edit)" rel="noopener noreferrer nofollow">Will Polygon MATIC Rally On Portal Launch And FIFA NFT Deal</a>
<h3 id="span-style-font-weight-400-dips-limited-in-avalanche-span">Dips Limited in Avalanche?</h3>
If AVAX price fails to continue higher above the $38.00 or $40.00 levels, it could continue to move down. Immediate support on the downside is near the trend line at $35.
The main support is near the $32.00 zone or the 50% Fib retracement level of the upward move from the $21.24 swing low to the $43.06 high.&nbsp;
A downside break below the $32.00 level could open the doors for a major decline towards $18.80. The next major support is near the $26.50 level and the 100 simple moving average (4 hours)
<h3 id="span-style-font-weight-400-technical-indicators-span">Technical Indicators</h3>
<ul>
 <li style="font-weight: 400">4 hours MACD – The MACD for AVAX/USD is gaining momentum in the bearish zone.</li>
 <li style="font-weight: 400">4 hours RSI (Relative Strength Index) – The RSI for AVAX/USD is now below the 50 level.</li>
 <li style="font-weight: 400">Major Support Levels – $35.00 and $32.00.</li>
 <li style="font-weight: 400">Major Resistance Levels – $38.00, $40.00, and $45.00.</li>
</ul>
The post <a href="https://bitcoinworld.co.in/avax-price-pumped-and-dumped-is-uptrend-still-strong/" rel="noopener noreferrer nofollow">AVAX Price Pumped And Dumped, Is Uptrend Still Strong?</a> appeared first on <a href="https://bitcoinworld.co.in" rel="noopener noreferrer nofollow">BitcoinWorld</a>.

AVAX Price Pumped And Dumped, Is Uptrend Still Strong?

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