The price of Avalanche (Avax) fell during the moving average line, breaking 21 days of SMA support.
Avalanche Price Long-Term Analysis: Range
The buyer tried to maintain a bullish momentum above the $26 level, but was rejected twice. If the buyers were successful, Avax could have hit a $45 high. Today, Avax is trading again in the $16 to $26 range, below resistance levels.
After a recent decline, cryptocurrency prices are currently between the moving averages. Altcoin will return to $16 if the bear breaks 50 days of SMA support. Meanwhile, Altcoin’s uptrend will resume once it breaks the 21-day SMA. Avax is currently trading at $21.24 and is trading beyond 50 days of SMA support.
Avax Price Indicator Analysis
Cryptocurrency prices have returned between moving average lines after the recent decline. The range of Altcoin begins between moving average lines. The price bar is below the downward tilted moving average line. Sales pressure reached a point of bearish fatigue.
Technical indicators:
Key Resistance Levels – $60 and $70
Key Support Levels – $30 and $20
What’s the next direction for the avalanche?
Avax prices have returned to the $16-$26 range. Buyers have once again failed to maintain an upward trend beyond the $26 resistance.
In the 4-hour chart below, Altcoin finds support beyond the low $20.50 and then corrects upwards. Avax resumes bullish momentum once it exceeds the moving average line.
As reported by Coinidol.com, on July 21st, the cryptocurrency price broke the $26 mark, but fell again.
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.
