Convergence

Rally

Block

Avalanche

Over the past week, Avalanche price analysis experienced notable fluctuations. Beginning at around $26.80, the cryptocurrency initially demonstrated a positive trend, ascending to a weekly high of $32.60. This rise was short-lived, however, as the price soon faced a sharp decline, reaching a low of $26.35.&nbsp; 
Following this downturn, <a href="https://coingape.com/price/avalanche/">AVAX price</a> managed a recovery, climbing back to its current level and effectively regaining its initial position. This price movement is encapsulated in a 5.22% increase over the week, reflecting a volatile yet resilient performance for Avalanche in the cryptocurrency market. 
<h2 id="strong-can-avax-hit-40-by-the-end-of-august-strong">Can AVAX Hit $40 By the End Of August?</h2> 
With the market experiencing a resurgence, <a href="https://coingape.com/price-predictions/avalanche-avax-price-prediction/">Avalanche price prediction</a> reveals a critical juncture, confronting a resistance level of $32.60. If surpassed, this threshold could push its price to $35. If the upward trend persists, Avalanche price analysis might target $40 by August’s close. A surge in bullish dynamics could even elevate its price to $50 during an upcoming market upswing. 
<figure id="attachment_209661" aria-describedby="caption-attachment-209661" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-209661" src="https://coingape.com/wp-content/uploads/2024/07/AVAXUSD_2024-07-26_16-36-21.png" alt="Avalanche Price Analysis: Major Rally Post-Market Rebound?" width="1154" height="588" srcset="https://coingape.com/wp-content/uploads/2024/07/AVAXUSD_2024-07-26_16-36-21.png 1154w, https://coingape.com/wp-content/uploads/2024/07/AVAXUSD_2024-07-26_16-36-21-300x153.png 300w, https://coingape.com/wp-content/uploads/2024/07/AVAXUSD_2024-07-26_16-36-21-768x391.png 768w, https://coingape.com/wp-content/uploads/2024/07/AVAXUSD_2024-07-26_16-36-21-150x76.png 150w" sizes="(max-width: 1154px) 100vw, 1154px">
 <figcaption id="caption-attachment-209661" class="wp-caption-text">
 Avalanche Price Analysis: Source: <a rel="nofollow" href="https://www.tradingview.com/x/fOyDUwgL/">TradingView</a>
 </figcaption>
</figure> 
The 4-hour <a href="https://coingape.com/best-indicators-for-crypto-trading/">technical indicators</a> for Avalanche show a positive uptick. The Moving Average Convergence Divergence (MACD) displays a slight bullish signal, as the MACD line (blue) remains above the signal line (orange).&nbsp; The Relative Strength Index (RSI) is 43, indicating a neutral market without being overbought or oversold.&nbsp; 
<figure id="attachment_209660" aria-describedby="caption-attachment-209660" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-209660" src="https://coingape.com/wp-content/uploads/2024/07/AVAX-1.png" alt="Avalanche Price Analysis: Major Rally Post-Market Rebound?" width="1175" height="400" srcset="https://coingape.com/wp-content/uploads/2024/07/AVAX-1.png 1175w, https://coingape.com/wp-content/uploads/2024/07/AVAX-1-300x102.png 300w, https://coingape.com/wp-content/uploads/2024/07/AVAX-1-768x261.png 768w, https://coingape.com/wp-content/uploads/2024/07/AVAX-1-150x51.png 150w" sizes="(max-width: 1175px) 100vw, 1175px">
 <figcaption id="caption-attachment-209660" class="wp-caption-text">
 Source: Into The Block
 </figcaption>
</figure> 
Avalanche’s latest data from <a rel="nofollow" href="https://app.intotheblock.com/coin/AVAX/deep-dive?group=financials&amp;chart=inAndOut">IntoTheBlock</a> In/Out of the Money Around Price (IOMAP) reveals an intriguing trend. Approximately 937,790 addresses have amassed over 10.53 million AVAX tokens. This concentration suggests a pivotal potential turnaround in this price bracket. The IOMAP analysis aligns with other market indicators, signaling a crucial area for investors to monitor. 
Conversely, a breakdown of the $28 support level will shift AVAX toward bearish sentiments.&nbsp;Such a development will invalidate the bullish thesis and potentially trigger a 5% correction in AVAX price to the next key support zone, extending from $25 to $26.&nbsp; 
The post <a href="https://coingape.com/markets/avalanche-price-analysis-major-rally-post-market-rebound/">Avalanche Price Analysis: Major Rally Post-Market Rebound?</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Avalanche Price Analysis: Major Rally Post-Market Rebound?

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Alte articole publicate pe 26 iul. 2024

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