The price of Avalanche (AVAX) moved sideways, rising to a high of $25 before pulling back.
Avalanche price long-term analysis: bullish
The sideways trend moved between the $16 low and below the $26 high. Buyers were unable to push the price above the $26 mark.
Today, the price of the cryptocurrency was halted at a high of $25. It is oscillating below the high of $24. If AVAX falls below its recent high, the altcoin will crash and start its sideways movement. The altcoin, currently worth $23.77, will continue to rise if the barrier is breached, possibly reaching $40.
AVAX price indicators analysis
The price bars have been moving above and below the moving average lines, which have remained horizontal. The price bars are dominated by doji candlesticks, resulting in a range-bound pattern for the cryptocurrency’s movement. The current trend is indicated by the upward moving average lines on the 4-hour chart.
Technical Indicators:
Key Resistance Levels – $60 and $70
Key Support Levels – $30 and $20
What is the next move for AVAX price?
AVAX is growing and approaching the upper price area of $26. Now the bullish momentum has paused at the $24 level.
AVAX will rise above the $26 high if it recovers and breaks through the current resistance. The altcoin will continue its sideways trend between $16 and $26 if it fails to break through the resistance levels.
Coinidol.com reported on July 15 that the price of Avalanche was above the moving average lines and reached a high of $22.
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.
Source: https://coinidol.com/avalanche-below-24/