AVAX Investors are Monitoring This Critical Support Zone! August 4th AVAX Analysis

• If AVAX continues to hold above the $12.12 level, it can make a upward move towards the $13 and $13.37 levels.
• According to the daily technical chart, the $12.08 level is of critical importance and is closely monitored by investors.
• If AVAX breaks out of the strong support range of $12.08 – $11.59 with a strong upward movement, the first target could be $14.

When examining the technical charts, the price of AVAX is moving between important support and resistance levels. Sustaining above the $12.12 level indicates possible signs of an upward trend, while closing below $12.08 can increase the potential for a decline. Investors can determine their buying and selling strategies by closely monitoring the support range of $12.08 – $11.59.

Medium-Term AVAX Analysis

When examining the daily technical chart of AVAX, it is observed that it is moving near the $12.08 level. However, if the AVAX price fails to close above the $13.13 resistance on a daily basis, it can continue its downward movement towards the $12.08 support.

The support range of $12.08 – $11.59, which is of great importance in determining the trend direction of AVAX, is closely monitored by many AVAX investors. A strong upward movement can be expected from this support range.

AVAX investors can evaluate their spot investments with a 3-part order system if a decrease occurs in the critical support range. In this way, they can determine daily closing stop levels below the $9.98 level from the ranges of $12.08 – $11.81 – $11.59.

If AVAX initiates an upward movement from the support range of $12.08 – $11.59, the first target could be the $14 level. If the AVAX price closes above $14 on a daily basis, the next upward target could be considered as $15.45.

Short-Term AVAX Analysis

As of now, AVAX is trading near the range of $12.36 to $12.12. As long as the AVAX price stays above the $12.12 level, it can initiate an upward movement from this range and first target the $13 level and then the $13.37 level.

If the AVAX price closes above the $13.37 level on a daily basis, it can continue its upward movement and aim to reach the $14.15 levels. However, the AVAX price must continue to close above the $12.12 level on a 4-hour basis to reach the mentioned resistance targets.

On the other hand, if the AVAX price closes below the $12.12 level on a 4-hour basis, it can continue its downward movement towards the $11.80 levels. Additionally, if the AVAX price closes below $11.80 on a 4-hour basis, it can extend its decline to $11.45.