AVAX May Fall to Critical Support Before Continuing the Upward Trend!

  • AVAX price experienced a decrease from the resistance level of $13.34 and may rise towards $13.23.
  • If AVAX fails to achieve 2-hour candle closes above the level of $13.38, it may continue its downward movement towards $12.26.
  • If AVAX encounters strong buying reactions from the level of $11.80, it can sustain its upward movement towards $13.80 and $14.43.

According to the daily technical chart of AVAX, it experiences both downward and upward movements by reaching certain resistance levels. It can initiate its upward movement from the mentioned support zone in the AVAX analysis.

Medium-Term AVAX Price Analysis


Daily AVAX/USD Price Chart

When examining the daily technical chart of AVAX, it can be seen that the upward movement starting from the $11 level continues and reaches the levels of $13.24.

According to the analysis, if AVAX fails to achieve daily candle closes above the mentioned blue trend line, it can continue its downward movement towards the $11.81 level. However, if AVAX continues to achieve daily candle closes above the $11.81 level, it can initiate its upward movement from the $11.80 level and reach the $14 level.

AVAX investors should closely monitor the important support zone of $11.81 – $11.56. If AVAX encounters strong buyer reactions in this support zone, it can initiate its upward movement towards the $14 level.

Investors who will make spot investments in this support zone can monitor daily candle closes below the $11.10 level as their stop level.

Short-Term AVAX Analysis

2-Hour AVAX/USD Price Chart

2-Hour AVAX/USD Price Chart

When examining AVAX’s price chart, it can be observed that it experienced a decrease from an important resistance zone around $13.34. According to the analysis, AVAX’s price can perform a rise towards the $13.23 level.

If AVAX fails to achieve 2-hour candle closes above the $13.38 level, it may continue its downward movement towards the $12.26 level. Additionally, if AVAX achieves 2-hour candle closes below $12.20, the next downward target could be $11.80.

However, if AVAX encounters strong buying reactions from the $11.80 level, it can initiate its upward movement from the $11.80 level and reach $13.80 and subsequently $14.43.

If BTC achieves 2-hour candle closes below the $11.80 level, it may continue its downward movement towards the $11.42 level, and the possibility of a rise from the mentioned white support zone in the analysis can be observed.

It is important to monitor and take note of the mentioned support and resistance zones.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.

BREAKING NEWS

Binance Achieves $8.73 Billion Net Inflow, Boosting Total Crypto Assets to $154.9 Billion

According to recent data from DeFiLlama, Binance experienced a...

ETH Investor Earns 1533 ETH Profit After Strategic WBTC Swap: Insights from On-Chain Data

On November 23rd, COINOTAG News reported a significant transaction...

Bitcoin ETF Sees Record $3.376 Billion Net Inflows Amid Surge in Trading Volume

According to recent data from COINOTAG News on November...

Binance Outshines Nasdaq and NYSE with $7.7 Billion USDT Inflow Amidst Historic Trading Volume Surge

According to a recent report by TokenInsight, during the...

Bitcoin Spot ETF Sees Massive $490 Million Inflow: BlackRock’s IBIT Leads the Way

Recent analysis by COINOTAG on November 23rd highlighted a...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img