#CHZ #BTC Detailed Analysis of Two Altcoins Joining the Bitcoin Rally: Avax and Chiliz
The cryptocurrency market continues to rise with the absence of feared geopolitical issues and positive news flow from Ripple. Altcoins are also following Bitcoin, which has reached its highest levels in the past three months. The formation formations seen on altcoin charts recently are a source of hope for many investors. In this content, we will examine the Avax and Chiliz charts.
Avax Chart Analysis
With the recent price increases, Avax investors have also made significant profits. Avax, which rose with the Stars Arena hype of the SocialFi protocol and then experienced a significant drop, continues its journey within the ascending channel formation with its recent bar formations. However, the descending channel formation on the daily chart should be our main focus.
The important support levels to watch for Avax are respectively; $9.54, $9.66, and $9.85. Especially, if a four-hour bar closes below the $9.85 level, which formed a double bottom after the recent price increase, it will cause the descending channel formation in the short term.
The resistance levels to watch for Avax are respectively; $10.28, $10.60, and $10.99. Especially, breaking the $10.28 level, which has not been overcome recently, will contribute to both an important resistance breakout and the acceleration of the rally.