Avalanche Stops Above $17 And Stays Within Range

The price of Avalanche (AVAX) is declining and trending sideways. Price analysis by Coinidol.com.

Avalanche price long-term analysis: bearish

The altcoin's negative trend has weakened as it rose above the $15 level, fell below the moving average lines and resistance at $24. The barrier at $24 has resisted the rising moves.

The altcoin is currently losing ground as it approaches the $15 level from earlier today. With the approach to the critical support, AVAX has fallen to a low of $17.84. The critical support at $15 has been intact since last month.

The altcoin is now in the oversold area of the market. If buyers emerge in the oversold area of the market, the altcoin will reverse.

Avalanche indicator analysis

After the downtrend was stopped, the price bars on both charts are below the horizontal moving average lines. The price movement was limited by the small range due to the doji candlesticks. The strong buying pressure at the lower price levels is evident from the long candlestick tails on the weekly chart.

Technical Indicators:

Resistance Levels – $60 and $70

Support Levels – $30 and $20

What is the next direction for Avalanche?

AVAX has fallen into the lower $15 price area in the course of the decline. The decline was halted above support at $17. The sideways trend will continue if it stays above the previous low of $15. The crypto price is holding above the current support level of $17 due to the doji candlesticks.

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.

Original Article