AVAX displayed a bullish presence over the past two weeks, when BTC sustained by July 5th onwards on the daily, and the crypto-landscape resonated green. As of writing, it presents the possibility of continuing its upward trajectory or breaking from a bullish pattern, precisely the falling wedge from the demand zone of $22.0.
The AVAX had a gripping price action after the prolonged consolidation that ended December 2023 on the daily chart. The price displayed the effectiveness of the resistance-turned-support $22, from where the price has taken a bounce in the past two weeks.
With the broader market bullish sentiments on the chart, as BTC is on the rise and has a correlation of 0.73, many are optimistic about AVAX. In the past 17 days, the gains were more than 45%, as it followed BTC's lead on the daily chart. Technically, The price surpassed the 50-day EMA band and has traded near the 200-day EMA band, which could be surpassed contingent on buyers' interest.
MACD displayed a bullish crossover, with a histogram growing at 0.0.83, and the RSI flashed at 65.24, indicating bullishness.
Therefore, if the price continues surging, the following resistance levels are at $37 and $50. However, failing jump resistances would lead to a price decline, and the bears would look at the nearest supports at $27 and $16, respectively.
The AVAX had a gripping price action after the prolonged consolidation that ended December 2023 on the daily chart. The price displayed the effectiveness of the resistance-turned-support $22, from where the price has taken a bounce in the past two weeks.
With the broader market bullish sentiments on the chart, as BTC is on the rise and has a correlation of 0.73, many are optimistic about AVAX. In the past 17 days, the gains were more than 45%, as it followed BTC's lead on the daily chart. Technically, The price surpassed the 50-day EMA band and has traded near the 200-day EMA band, which could be surpassed contingent on buyers' interest.
MACD displayed a bullish crossover, with a histogram growing at 0.0.83, and the RSI flashed at 65.24, indicating bullishness.
Therefore, if the price continues surging, the following resistance levels are at $37 and $50. However, failing jump resistances would lead to a price decline, and the bears would look at the nearest supports at $27 and $16, respectively.
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Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.