Avalanche (AVAX) technical analysis:
Trade setup: Price is trading in an Ascending Triangle. Swing traders can enter near triangle support trendline (~
17
) and exit near
22
triangle resistance, where it got rejected several times this year. Trend traders should wait for a breakout, ideally above
22
resistance, to signal Uptrend resumption.
Trend: Downtrend on Short-Term basis, Neutral on Medium-Term basis and Uptrend on Long-Term basis.
Momentum is Mixed as MACD Line is below MACD Signal Line (Bearish) but RSI ~ 50 (Neutral). MACD Histogram bars are rising, which suggests that momentum could be nearing another upswing.
Support and Resistance: Nearest Support Zone is $15, (previous resistance), then $10. The nearest Resistance Zone is 22 , then $30.
Trade setup: Price is trading in an Ascending Triangle. Swing traders can enter near triangle support trendline (~
17
) and exit near
22
triangle resistance, where it got rejected several times this year. Trend traders should wait for a breakout, ideally above
22
resistance, to signal Uptrend resumption. Trend: Downtrend on Short-Term basis, Neutral on Medium-Term basis and Uptrend on Long-Term basis.
Momentum is Mixed as MACD Line is below MACD Signal Line (Bearish) but RSI ~ 50 (Neutral). MACD Histogram bars are rising, which suggests that momentum could be nearing another upswing.
Support and Resistance: Nearest Support Zone is $15, (previous resistance), then $10. The nearest Resistance Zone is 22 , then $30.