Momentum

Resistance

Avalanche

Higher

AVAX price is gaining pace above the $26.50 resistance. Avalanche could rise further if there is a clear move above the $27.75 resistance zone. 
<ul> 
 <li>AVAX price is moving higher from the $24.70 support zone against the US dollar.</li> 
 <li>The price is trading above $26.50 and the 100-hourly simple moving average.</li> 
 <li>There was a break above a key bearish trend line with resistance at $26.50 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 $26.00 and $25.50 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 $22.00 zone. A support base was formed above $22.00, and the price started a fresh increase, like <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-targets-recovery-60k/" target="_blank" rel="noopener ">Bitcoin</a> and <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-upside-3110/" target="_blank" rel="noopener ">Ethereum</a>. 
The price gained over 7% and broke many hurdles near $25.00. There was a break above a key bearish trend line with resistance at $26.50 on the hourly chart of the AVAX/USD pair. It cleared the 76.4% Fib retracement level of the downward move from the $27.17 swing high to the $24.72 low. 
The pair even cleared the $27.00 resistance to move into a positive zone. AVAX price is now trading above $26.50 and the 100-hourly simple moving average. <a href="https://www.newsbtc.com/wp-content/uploads/2024/07/AVAX-Price_6e83b7.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="wp-image-628787 size-full" src="https://www.newsbtc.com/wp-content/uploads/2024/07/AVAX-Price_6e83b7.png?resize=1024%2C461" alt="AVAX Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/07/AVAX-Price_6e83b7.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/07/AVAX-Price_6e83b7.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/07/AVAX-Price_6e83b7.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/07/AVAX-Price_6e83b7.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/07/AVAX-Price_6e83b7.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/07/AVAX-Price_6e83b7.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/07/AVAX-Price_6e83b7.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 $27.75. The next major resistance is forming near the $28.70 zone or the 1.618 Fib extension level of the downward move from the $27.17 swing high to the $24.72 low. If there is an upside break above the $28.70 level, the price could accelerate higher. In the stated case, the price could rise steadily toward the $30.00 level or even $32.00. 
<h2 id="dips-supported-in-avalanche">Dips Supported in Avalanche?</h2> 
If AVAX price fails to continue higher above the $27.75 or $28.70 levels, it could start a downside correction. Immediate support on the downside is near the $26.50 level. 
The main support is near the $26.00 zone and the 100 simple moving average (4 hours). A downside break below the $26.00 level could open the doors for a drop toward $24.70. The next major support is near the $22.50 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 – $26.50 and $26.00. 
Major Resistance Levels – $27.75 and $27.70.

Avalanche (AVAX) Price Teases Breakout: Momentum Could Drive More Upsides

Innehållsförteckning

NewsBTC

Andra artiklar publicerade 10 juli 2024

KAS, RCOF, and SOL Likely to Survive Bitcoin Price Nuke In The Coming Weeks, but Why?

Shibarium Eyes Abnormal 540% Increase in Shiba Inu Token Gas Fees

Block and Core Scientific Joins For New Bitcoin Mining ASICs

Long-Term Crypto Picks: 5 Upcoming Coins Set to Soar in Value

High-conviction Bitcoin traders targeted in new long BTC ETFs

CFTC chairman: 70-80% of cryptos are non-securities

Prenumerera på vårt nyhetsbrev och få kryptouppdateringar varje dag!