Avalanche’s AVAX Price Shows Positive Signs, Bulls Eyeing $25 Rally

The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
This summary text is fully AI-generated and may therefore contain errors or be incomplete.

AVAX price is showing positive signs as it remains above the $20 support level against the US dollar. The price is currently trading above $21 and the 100 simple moving average (4 hours), indicating a bullish trend. There is a key bullish trend line forming with support near $20.60 on the 4-hour chart of the AVAX/USD pair. If the price continues to rise and breaks above the $22.50 and $23.00 resistance levels, it could potentially rally towards $25. After facing resistance near the $24.00 zone, AVAX experienced a downside correction but remained in a positive zone. The price dropped below $23 and $22 levels, even spiking below the $20 support zone. However, the bulls were active above $18.80, which served as a strong support level. AVAX price found support near $18.80 and the 61.8% Fib retracement level, and it is now moving higher and trading above the $20 level. There is an immediate resistance near the $22.50 zone, followed by a major resistance near the $23.00 zone. If the price breaks above these levels, it could potentially surge over 10% and steadily rise towards the $25 level. On the other hand, if the price fails to break above the $22.50 or $23.00 levels, it could start another decline. The immediate support on the downside is near the $20.60 level and the 100 simple moving average (4 hours). The main support is near the $19.50 zone, and a break below this level could lead to a fresh decline towards $18.80. The next major support is near the $15.80 level. In terms of technical indicators, the MACD for AVAX/USD is gaining momentum in the bullish zone, indicating a positive trend. The RSI for AVAX/USD is now above the 50 level, further supporting the bullish sentiment. To summarize, AVAX price is currently showing positive signs and remains above the $20 support level. If it continues to rise and breaks above the resistance levels, it could potentially rally towards $25. However, if it fails to break above these levels, it could start another decline with immediate support near $20.60. Overall, the technical indicators suggest a bullish trend for AVAX/USD.

Notifications 0