AVAX Technical Analysis: What Factors to Watch in Altcoin? 📊 📈
AVAX price is gaining momentum above the $36.50 resistance. If there is a clear movement above the $40.00 resistance zone, the avalanche could rise even higher.
AVAX price is rising from the $30.50 support zone against the US dollar.
The price is trading above $35.00 and the simple moving average (4 hours) of 100.
There was a break above a significant downtrend line with $34.00 resistance on the 4-hour chart of the AVAX/USD pair.
The pair could continue to rise if it stays above the $36.30 and $35.50 support levels.
AVAX Aims Higher Price
Following a steady decline, Avalanche's AVAX found support near the $30.50 zone, a low close to $30.58. The price has launched a new increase, such as Bitcoin and Ethereum.
AVAX technical analysis; the price increased by over 10%. It overcame many obstacles around $35.00. There was a break above the line of a significant downtrend with $34.00 resistance on the 4-hour chart of the AVAX/USD pair. The pair even cleared the 50% Fib pullback level of the downward movement towards $30.58 from the $39.83 high oscillation.
AVAX price is currently trading above the $36.50 and 100 simple moving average (4 hours). On the upper side, there is a sudden resistance to the $37.65 region, or a resistance close to the 76.4% Fib retracement level of the downward movement from the $39.83 high to the $30.58 oscillation.
If the AVAX technical analysis price fails to continue higher than the $37.65 or $39.80 levels, it could initiate a downward correction. Downward instant support is close to $36.30.
The main support is close to the $35.20 region and the 100 simple moving average (4 hours). A downward break below the $35.20 level can open the doors to a major drop towards $32.80. The next big support is near the $30.50 level.
4 hours MACD – MACD for AVAX/USD is gaining momentum in the bullish zone.
4-hour RSI (Power Index) – RSI for AVAX/USD is now above the 50 level.
Main Support Levels – $36.30 and $35.20.
