AVAX Tests Support Zone Near FVG, Potential Bounce to $13.18
- Support Zone Testing: AVAX is currently trading at approximately $12.43, testing its Fair Value Gap (FVG) support zone, which may lead to a short-term bounce towards $13.18, providing potential buying opportunities for traders.
- Price Pattern Analysis: The formation of an ascending triangle on the 4-hour chart indicates a bullish continuation signal, suggesting that a breakout above the $12.55 resistance could propel the price further to the $12.90-$13.30 range, enhancing market confidence in its future performance.
- Market Dynamics Observation: Despite the current bullish structure, market conditions remain a key factor for price movement, as any failure to break above resistance could lead to a downside move, necessitating traders to closely monitor volume trends.
- Trading Strategy Recommendation: Staying updated on price behavior is crucial, especially around the $12.45-$12.55 resistance zone, and as long as AVAX holds the ascending trendline, traders should cautiously assess market risks to optimize their investment decisions.
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Technical Analysis for AVAX
Technical Sentiment Analysis for Avalanche (AVAX) As of , Avalanche (AVAX) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for AVAX stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, AVAX is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Avalanche (AVAX) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 4.372 | 5.961 | 7.722 | 9.311 | 11.072 | 12.661 | 14.422 |
| Fibonacci | 5.961 | 7.241 | 8.031 | 9.311 | 10.591 | 11.381 | 12.661 |
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