Avalanche

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/avalanche-avax-price-dynamics-will-it-offer-buying-opportunities/" data-wpel-link="internal">Avalanche (AVAX) Price Dynamics: Will It Offer Buying Opportunities?</a><br></p>
<p style="text-align: justify"><a href="https://coin-turk.com/bir-merkez-bankasi-hamlesi-daha-bu-ulke-de-kriptoya-hayir-diyor" data-wpel-link="internal">The cryptocurrency</a> world’s 10th largest, <a href="https://en.coin-turk.com/avalanche-avax-a-promising-project-in-the-crypto-market/" data-wpel-link="internal">Avalanche</a> (<a href="https://en.coin-turk.com/avalanche-networks-upcoming-developments-and-token-unlock-event/" data-wpel-link="internal">AVAX</a>), is showing signs of exhaustion as it approaches the resistance zone of $51 to $56. However, the downward trend seen in the weekly chart indicates a potential correction movement. Currently, with prices fluctuating between $50 and $60, it seems to be a suitable level for long-term buyers to accumulate. Yet, the weakening upward momentum and the possibility of the price returning to the $39 support level point to the invalidation of the bullish thesis. So, what levels should investors watch at this point?</p> 
<h2 style="text-align: justify" id="will-altcoin-avalanche-avax-price-offer-buying-opportunities">Will Altcoin Avalanche (AVAX) Price Offer Buying Opportunities?</h2> 
<p style="text-align: justify"><strong>The cryptocurrency</strong> Avalanche (AVAX) surpassed the psychological level of $40 at the end of December. Between the end of December and mid-March, Avalanche’s price set a higher peak. However, the Relative Strength Index (RSI) and Awesome Oscillator (AO) formed lower peaks. This discrepancy is called a bearish divergence and often results in corrective movements for the underlying asset.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-335397 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/avax-coin-turk-com-1-2.png" alt="" width="1814" height="798"></p> 
<p style="text-align: justify">In this case, <strong>Avalanche’s</strong> price has retreated from its most recent local peak of $65, losing 19% in value and likely to fall further. The current imbalance ranging from $45 to $50 suggests the first accumulation zone is approximately 5% to 10% away from the current level of $53.</p> 
<h2 style="text-align: justify" id="where-buying-pressure-may-emerge">Where Buying Pressure May Emerge</h2> 
<p style="text-align: justify">If history repeats itself, a decline towards this level could generate enough buying pressure to break through the resistance zone of $51 to $56 and retest the next critical barrier at $80. This level is the midpoint of the previous bear market for the cryptocurrency AVAX.</p> 
<p style="text-align: justify">On the other hand, if Avalanche’s price continues to fall beyond the $45 to $50 imbalance, it will indicate a general weakness in the market. In this scenario, the cryptocurrency <strong>AVAX</strong> could experience a pullback towards the weekly support level of $40.</p> 
<p style="text-align: justify">What’s important is the possibility of a significant increase in selling pressure, which could turn the $40 level into a resistance level for AVAX’s price. Such a development could invalidate the bullish thesis and lead to a further 28% drop for the cryptocurrency AVAX, testing the next significant support level at $28. However, it should be noted that this scenario is unlikely to materialize at the moment.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/avalanche-avax-price-dynamics-will-it-offer-buying-opportunities/" data-wpel-link="internal">Avalanche (AVAX) Price Dynamics: Will It Offer Buying Opportunities?</a></h5>

Avalanche (AVAX) Price Dynamics: Will It Offer Buying Opportunities?

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