The price of Avalanche (Avax) has vibrated above $16.00 since March 9th.
Long-term avalanche price analysis: bearish
The uptrend is suppressed at $26 by moving average lines and resistance. Avax was used to fluctuate between resistance levels between $16 and $26. Since the June 5th drop, Avax has surpassed $16 support, but below the moving average line.
Every time the $16 current support is retested, the Bulls buy a dip. If current support is broken, the cryptocurrency will drop to $14. Avax is below the moving average line, but is trading above $16. The current value of Avax is $17.66.
Avalanche price indicator analysis
The price bar is located at the bottom of the chart and below the moving average line. If your 21-day SMA is below the 50-day SMA, you will get a bearish signal. The impulse to sell has disappeared beyond the $16 support. The price action is stable due to the frequent use of Doji Candlesticks.
Technical indicators:
Resistance Levels – $60 and $70
Support Levels – $30 and $20
What’s the next direction for the avalanche?
The price of the Avax has already fallen to $15.62. Cryptocurrency currently trades moving average lines, or resistances, below $18.50, exceeding $15.50.
Avax resumes bullish trends when it exceeds the moving average and maintains upward momentum. Avax will drop to an additional $8.63 bottom price if existing support is broken.
Disclaimer. This analysis and prediction is the author’s personal opinion. They do not recommend buying and selling cryptocurrencies and should not be considered as approval by coinidol.com. Readers should do research before investing in funds.
