Bitcoin

Resistance

Avalanche

Higher

AVAX price is gaining pace above the $28.65 resistance. Avalanche could rise further if there is a clear move above the $30.00 resistance zone. 
<ul> 
 <li>AVAX price is moving higher from the $27.40 support zone against the US dollar.</li> 
 <li>The price is trading above $28.65 and the 100-hourly simple moving average.</li> 
 <li>There was a break above a key declining channel with resistance at $28.40 on the hourly chart of the AVAX/USD pair (data source from Kraken).</li> 
 <li>The pair could continue to rise if it stays above the $28.65 and $28.50 support levels.</li> 
</ul> 
<h2 id="avax-price-aims-higher">AVAX Price Aims Higher</h2> 
After a steady decline, Avalanche’s AVAX found support near the $25.00 zone. A support base was formed above $25.00, and the price started a fresh increase, like <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-spikes-63500/" target="_blank" rel="noopener ">Bitcoin</a> and <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-bounces-3520/" target="_blank" rel="noopener ">Ethereum</a>. 
The price gained over 8% and broke many hurdles near $28.50. There was a break above a key declining channel with resistance at $28.40 on the hourly chart of the AVAX/USD pair. The pair even cleared the $29.40 resistance to move into a positive zone. 
AVAX price is now trading above $28.50 and the 100-hourly simple moving average. It is showing positive signs above the 23.6% Fib retracement level of the upward move from the $27.37 swing low to the $29.95 high. <a href="https://www.newsbtc.com/wp-content/uploads/2024/07/AVAX-Price.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="wp-image-627144 size-full" src="https://www.newsbtc.com/wp-content/uploads/2024/07/AVAX-Price.png?resize=1024%2C461" alt="AVAX Price Aims Higher" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/07/AVAX-Price.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/07/AVAX-Price.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/07/AVAX-Price.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/07/AVAX-Price.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/07/AVAX-Price.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/07/AVAX-Price.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/07/AVAX-Price.png?resize=1024%2C461?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
On the upside, an immediate resistance is near the $30.00. The next major resistance is forming near the $30.50 zone. If there is an upside break above the $30.50 level, the price could accelerate higher. In the stated case, the price could rise steadily toward the $32.50 level or even $34.00. 
<h2 id="dips-supported-in-avalanche">Dips Supported in Avalanche?</h2> 
If AVAX price fails to continue higher above the $30.00 or $30.50 levels, it could start a downside correction. Immediate support on the downside is near the $29.35 level. 
The main support is near the $28.65 zone and the 50% Fib retracement level of the upward move from the $27.37 swing low to the $29.95 high. A downside break below the $28.65 level could open the doors for a drop toward $28.00 and the 100 simple moving average (4 hours). The next major support is near the $27.40 level. 
Technical Indicators 
Hourly MACD – The MACD for AVAX/USD is gaining momentum in the bullish zone. 
Hourly RSI (Relative Strength Index) – The RSI for AVAX/USD is now above the 50 level. 
Major Support Levels – $29.35 and $28.65. 
Major Resistance Levels – $30.00 and $30.50.

Avalanche (AVAX) Price Rallies: Can It Break Through the $30 Barrier?

목차

NewsBTC

2024년 7월 1일에 게재된 다른 기사

Ethereum’s Buterin outlines ways to enhance transaction speed

Crypto Market Surges While Immutable (IMX) and Injective (INJ) Stall, KangaMoon (KANG) Prepares T...

Reasons Why You Should Buy Cosmic Kittens (CKIT) Tokens During Ongoing Presale

CARV Launches Alphanet: $35M Node Sale Propels Decentralization Milestone

Ontology Blockchain Celebrates its 6th Anniversary of MainNet Launch

Government Plans to Include Cryptocurrencies in Tax Framework

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!