Resistance

Million

Avalanche

<ul class="list-ic vertical">
 <li><span>1</span> <a>Avalanche crypto price might reach $50 shortly, as fresh buying triggers.</a></li>
 <li><span>2</span> <a>AVAX price surpassed the trendline mark of $35 and signifies bull accumulation.</a></li>
</ul>
<p>The Avalanche (AVAX) price replicates fresh buying momentum and has crossed the trendline mark of $35 this week. The AVAX price has crossed the 50 day and 100 day EMAs and rebounded from $30.</p>
<p>The price action highlighted that the AVAX crypto has completed its correction phase and triggered a bounce. Amidst the bearish market, the AVAX crypto retained the 50 day EMA mark and is displaying neutral cues.</p>
<p>At press time, the<a href="https://www.thecoinrepublic.com/2024/01/06/coq-coin-boosts-growth-of-avalanche-crypto-and-release-of-nugx/" target="_blank" rel="noopener noreferrer nofollow"> Avalanche crypto</a> (AVAX) price traded at $36.74 with an intraday gain of 2.39%, reflecting a significant bounce. It has a monthly return ratio of -28.90% and 94.35% yearly.</p>
<p>The pair of AVAX/BTC is at 0.000578 BTC, and the market cap is $14.01 Billion. Analysts are neutral and suggest that the AVAX crypto may gain momentum and will surpass the $50 mark ahead.</p>
<h2 class="wp-block-heading" id="strong-can-avax-resist-selloff-amid-bearish-market-sentiments-strong"><strong>Can AVAX Resist Selloff Amid Bearish Market Sentiments?</strong></h2>
<p>On the daily charts, the Avalanche crypto has made a double bottom formation and rebounded from the $30 mark. The trading volume spiked over 33.20% to $470.13 Million and reflected bull accumulation.</p> <iframe loading="lazy" title="Santiment Chart: Price (AVAX), Volume (AVAX)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=avalanche&amp;pt=AVAX&amp;df=2023-11-03T18%3A29%3A59.188Z&amp;dt=2024-05-03T18%3A29%3A59.188Z&amp;sat=shchcfg_g6anq_vi6xKw&amp;emcg=1&amp;emhwm=1&amp;wm=price_usd%3Bvolume_usd&amp;wax=0%3B1&amp;wc=%2326C953%3B%2337D7BA&amp;ws=%7B%22interval%22%3A%221d%22%2C%22node%22%3A%22candle%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe>
<p class="has-text-align-center">Source: Santiment</p>
<p>Looking at the price action, the ongoing downtrend is significantly changing hands and buyers are back into the battle.&nbsp;</p>
<p>Per the data from IntoTheBlock, the GIOM indicator revealed that around 7.34% positions are still active and reflect a supply range around $43, which is the prompt hurdle for the bulls.</p>
<p>However, 52.38% of the 62,000 active addresses are looking to cover their gains, whereas 48% of active addresses are still secured.</p>
<h3 class="wp-block-heading" id="strong-understanding-the-market-dynamics-strong"><strong>Understanding The Market Dynamics</strong></h3>
<p>For weeks, the AVAX crypto was in a downtrend and has corrected over 40% last month. Meanwhile, the price still traded above the neutral trajectory and is still up to the bulls. The price volatility curve witnessed a 3.29% decline and dragged below the midline to 0.012.</p> <iframe loading="lazy" title="Santiment Chart: Price Volatility 1d (AVAX), Weighted sentiment (Total) (AVAX)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=avalanche&amp;pt=AVAX&amp;df=2023-11-03T18%3A29%3A59.188Z&amp;dt=2024-05-03T18%3A29%3A59.188Z&amp;sat=shchcfg_g6anq_vi6xKw&amp;emcg=1&amp;emhwm=1&amp;wm=price_volatility_1d%3Bsentiment_volume_consumed_total&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe>
<p class="has-text-align-center">Source: Santiment</p>
<p>Similarly, the weighted sentiment data looked negative and is delivering the bearish cues over the past few weeks. Meanwhile, the trend is neutral and buyers need to close above the $40 mark to flip the trend.</p>
<p>Avalanche’s market cap soared over 0.56% to $14.05 billion, whereas the total supply was noted at 439.01 million. However, the coin ranked at 13 per the market cap listing.</p>
<h3 class="wp-block-heading" id="strong-conclusion-strong"><strong>Conclusion</strong></h3>
<p>The Avalanche (AVAX) price has crossed the 50 day EMA mark and has delivered a fresh spike of over 2% intraday. Meanwhile, the seller army has held on to their grip and are looking for a push to break the buyers’ strength.</p>
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4>
<p><strong>Support Levels:</strong> $30 and $27</p>
<p><strong>Resistance Levels:</strong> $40 and $45</p>
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5>
<p>The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.&nbsp;</p>

Avalanche Price Prediction: What’s Next For AVAX Post Rebound?

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Thecoinrepublic.com

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