The price of Avalanche (AVAX) is rising after rising above the moving average lines.
Avalanche price long-term analysis: bullish
The bullish momentum has waned as the altcoin faces rejection at its September 27 high of $30. AVAX has been rejected three times and is fluctuating above the moving average lines but below the $30 level. The next resistance level at $40 will be reached by AVAX if the first barrier is breached. AVAX will fall if the bears break below the moving averages. The altcoin will reach its next support at $24. AVAX is currently valued at $28.
Avalanche indicator analysis
AVAX is gaining as the price bars remain above the moving average lines. The moving average lines are trending upwards, indicating an uptrend. The uptrend has paused at $30 as the altcoin trades sideways below the resistance level. The price fluctuation is influenced by doji candlesticks.
Technical Indicators:
Major Resistance Levels – $60 and $70
Major Support Levels – $30 and $20
What is the next direction for Avalanche?
On the 4-hour chart, AVAX is in an uptrend with higher highs and higher lows. Since October 14, the ascending trend has shifted to a sideways dip below the $30 resistance level. The altcoin’s price fluctuates between $27 and $30. The altcoin has retraced above the $27 support level as it consolidates.
Disclaimer. This analysis and forecast are the personal opinions of the author. They are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds.
