Bitcoin’s Weekly Surge Lifts Altcoins
Bitcoin and Altcoin Surge: Bitcoin's 10% increase to $64,000 has positively influenced altcoins like Avalanche (AVAX), which saw a 30% price rise, breaking a five-month resistance level.
Franklin Templeton's Integration with Avalanche: The investment firm expanded its money fund by integrating it with the Avalanche network, enhancing accessibility and introducing features for USDC conversions, while AVAX's recent gains suggest potential further increases despite long-term bearish indicators.
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Technical Analysis for AVAX
Technical Sentiment Analysis for Avalanche (AVAX) As of , Avalanche (AVAX) is exhibiting a Strong sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 0 indicators are flashing buy, while 4 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 | 5.033 | 6.292 | 7.823 | 9.082 | 10.613 | 11.872 | 13.403 |
| Fibonacci | 6.292 | 7.357 | 8.016 | 9.082 | 10.147 | 10.806 | 11.872 |
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