CandleFocus AVAX Price At A Make-or-Break Moment: Is A Rally Possible?
2025-01-31
Author: Content Editor
The price of Avalanche (AVAX) is currently trading at $34.28 with a 24-hour volume of $410.54 million, down 17.72% in the last week. The cryptocurrency is testing the $32.43 Fibonacci retracement level, which is a critical juncture. If this level holds, AVAX price can move towards resistance at $50. However, if it breaks below this level, further drops are likely with potential support in the $26-$29 region. AVAX is slightly above the lower Bollinger Band, suggesting potentially oversold conditions. Market sentiment is weak, with negative momentum indicators and open interest on futures at $653.27 million. However, open interest has remained high all year, indicating continued trader confidence. Daily trading volume has also increased, indicating high market engagement. Traders are closely watching the $32.43 price level.
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