The price of Avalanche (AVAX) is currently declining and returning to its downtrend. Buyers have attempted to hold the price above moving average lines, but have failed to sustain the upside momentum above the $30 resistance. AVAX has fallen to a low above the $22 level, and the altcoin will need to maintain current support for an upside correction to occur. If successful, AVAX will rise and retest and break the moving average lines. However, if the altcoin continues to decline, it may reach a low above $20 before turning away from the moving average lines. The current value of AVAX is $21. The key resistance levels to watch are $60 and $70, while key support levels are $30 and $20. On the 4-hour chart, AVAX faces a rejection at the $27 level and may hit a low of $20. Trading in the altcoin remains limited and there are doji candlesticks dominating the price action. This analysis and forecast are the personal opinions of the author and should not be viewed as a recommendation to buy or sell cryptocurrency. Readers are advised to conduct their own research before investing.
- Content Editor ( coinidol.com )
- 2024-11-05
Avalanche Moves Above $22 As It Retests The Low Of The Chart