Avalanche (AVAX)

The AVAX price trend is declining throughout the daily chart. However, the recent bullish reversal from the $20 support level reveals a refreshed trend.

With a streak of 6 consecutive bullish candles, the altcoin has increased by 17% in the recent run. Currently trading at $22.85 with an intraday gain of 5.21%, a bullish engulfing candle marks a double-bottom breakout.

With the next resistance at $24.27, the uptrend is heading towards the overhead resistance trendline. Further, the bullish crossover in the MACD indicator and the daily RSI line crossing above the 50% halfway line indicate rising buying pressure.

A potential breakout rally could challenge the next support levels at $32.70 and $40 before hitting the $50 psychological mark. Conversely, the support levels are at $20 and $18. $AVAX