Avalanche (AVAX) is currently trading near a key support level at $14. The altcoin has experienced a bearish period this month, along with other major cryptocurrencies as Bitcoin has failed to remain above $27,000. However, in the last 24 hours, AVAX has moved up by 1.5%, signaling some potential recovery in the near future.

Analyzing the chart, the technical indicators present a bearish image for AVAX. The Relative Strength Index (RSI) is slightly above the 40-level, but is still on the lower side of the range, indicating that sellers are in control of the market currently. The Moving Average Convergence Divergence (MACD) has also formed red histograms, suggesting bearish momentum for the coin.

The resistance level appears to be at the $16 mark, with the upper Bollinger Band signaling a price ceiling at this level. If buyers can manage to push the coin close to the $16 threshold in upcoming trading sessions, it could potentially end up back in the $18 mark and even spike up to the $20 level. On the other hand, if bearish momentum continues to build, it could lead to a drop with the key support remaining at $14. Overall, this market trend can cause AVAX to swing either way, depending on buyer strength. Currently, traders have to pay attention to the price at $14 to enter buy positions and the resistance at $16 to stay cautious. While the buying activity has been limited in the past few days, traders should monitor the market and make decisions accordingly.



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