Avalanche (AVAX) technical analysis:
Trade setup: Price broke above 200-day moving average and above $14.00 resistance, which confirmed a bullish trend reversal to an Uptrend. Subsequently, price spiked above $16.00, $18.30 and most recently $22.00 resistance levels. Price is now very overbought (RSI ~ 80!), hence, near-term, we’re likely to see it pause here on some profit taking, before resuming its Uptrend. Upside potential to $26 and $30 thereafter.
Trend: Uptrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Bullish but extremely overbought. ( MACD Line is above MACD Signal Line). RSI is bullish (> 55) but extremely overbought (> 80) which could imply that price could briefly pause or pull back if it reaches Resistance.
Support and Resistance: Nearest Support Zone is $16.0 (previous resistance), then $14.0. The nearest Resistance Zone is $18.3, then $22.0 and $26.0.
Trade setup: Price broke above 200-day moving average and above $14.00 resistance, which confirmed a bullish trend reversal to an Uptrend. Subsequently, price spiked above $16.00, $18.30 and most recently $22.00 resistance levels. Price is now very overbought (RSI ~ 80!), hence, near-term, we’re likely to see it pause here on some profit taking, before resuming its Uptrend. Upside potential to $26 and $30 thereafter.
Trend: Uptrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Bullish but extremely overbought. ( MACD Line is above MACD Signal Line). RSI is bullish (> 55) but extremely overbought (> 80) which could imply that price could briefly pause or pull back if it reaches Resistance.
Support and Resistance: Nearest Support Zone is $16.0 (previous resistance), then $14.0. The nearest Resistance Zone is $18.3, then $22.0 and $26.0.
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