Avalanche Crosses The $23 Hurdle And Continues To Rise

The price of Avalanche (AVAX) has risen above the moving average lines and crossed the $23 mark. Avalanche price long-term analysis: bullish The cryptocurrency rose to a high of $26 but was pushed back. AVAX is currently at a minor retracement above the moving average lines. The altcoin’s bullish rise will continue if it retraces and finds support above the $23 level. The altcoin will rise to the next hurdle of $26, which will take AVAX to highs of $28 and $35. If the altcoin fails to rally higher, it will be forced to trade in a range below the recent high and above the moving averages. Meanwhile, AVAX is trading above the $23 support but below the $26 high. The value of the altcoin now stands at $24.90. Analysis of the Avalanche indicator On both charts, the moving average lines are sloping upwards, indicating the current rally. The 21-day SMA is above the 50-day SMA, indicating an uptrend. The doji candlesticks have returned to the bullish trend zone. The uptrend will continue if the price of the cryptocurrency retraces and stays above the 21-day SMA support. Technical Indicators: Resistance Levels – $60 and $70 Support Levels – $30 and $20 What’s the next for AVAX? AVAX has continued its rally and broken through its initial $23 hurdle. The price of the cryptocurrency is pulling back after its rejection of the $26 high. If the altcoin retraces and stays above the 21-day SMA, it will continue its uptrend. A break below the 21-day SMA support will bring AVAX back to its previous range. 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-crosses-hurdle/