Momentum

Avalanche

Daily

Gains

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/avalanche-gains-momentum-by-surpassing-23-50/" data-wpel-link="internal">Avalanche Gains Momentum by Surpassing $23.50</a><br></p>
<p style="text-align: justify">Falling from the $65 level, <strong><a href="https://en.coin-turk.com/insights-on-the-rising-appetite-for-cryptocurrencies-and-avax-price-movements/" data-wpel-link="internal">Avalanche</a></strong> (AVAX) recently displayed an impressive price movement, gaining strong momentum by surpassing the $23.50 level. This rise creates a positive atmosphere among <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">market</a> participants and supports AVAX’s effort to reach the $30.34 resistance level. This price movement is also progressing in harmony with AVAX’s technical indicators.</p> 
<h2 style="text-align: justify" id="avax-market-data-and-technical-analysis">AVAX Market Data and Technical Analysis</h2> 
<p style="text-align: justify">As of the latest update, AVAX’s price has increased by 4.85%, trading at approximately $26.88. The market value has exceeded $10 billion, and the trading volume is around $305 million. These <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener" data-wpel-link="exclude">data</a> indicate that <strong>AVAX</strong> is in a strong accumulation phase, supporting the potential for further price increases.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-369406 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/07/avax-4.png" alt="" width="1398" height="771"></p> 
<p style="text-align: justify">On the 4-hour chart, AVAX showed upward momentum by rising above the 100-day Simple Moving Average (SMA). The <strong>cryptocurrency</strong> is moving upward after surpassing the $26.50 level and has the potential to reach the $30.34 resistance level. The Composite Trend Oscillator also supports this movement, indicating further upward momentum.</p> 
<h2 style="text-align: justify" id="daily-chart-and-long-term-expectations">Daily Chart and Long-Term Expectations</h2> 
<p style="text-align: justify">On the 1-day chart, AVAX is still trading below the 100-day SMA. However, it is attempting an upward movement towards the $30.34 resistance level. AVAX managed to stay above the $26.50 level after surpassing it. The Composite Trend Oscillator indicates the potential for the upward movement to continue, suggesting that the asset could exit the oversold region.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-369407 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/07/avax1.png" alt="" width="1409" height="783"></p> 
<p style="text-align: justify">The main question is whether Avalanche can sustain this upward trend. Currently, AVAX is trying to reach the $30.34 resistance level. If it successfully reaches and closes above this level, the price could challenge higher resistance levels. Specifically, AVAX has the potential to progress from $37.29 and possibly towards $39.94.</p> 
<p style="text-align: justify">Surpassing these resistance points will mark significant milestones in AVAX’s price movement and attract more investor confidence. However, if AVAX encounters resistance at the $30.34 level and fails to close above it, the price may fall and potentially retreat towards the $23.50 support level. Breaking this support could lead the <strong>cryptocurrency</strong> AVAX to test lower support levels.</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-gains-momentum-by-surpassing-23-50/" data-wpel-link="internal">Avalanche Gains Momentum by Surpassing $23.50</a></h5>

Avalanche Gains Momentum by Surpassing $23.50

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