- Avax is currently located in a strong support zone at $11.81.
- If the price maintains the support level, it can move towards the target of $14.
- Closing below the support level can extend the downward movement to $11.29.
Avax is currently moving near an important support level according to the latest technical analysis. If the price maintains the support level, there is potential for an upward movement, but a movement below the support level can strengthen the expectation of a decline.
Medium-Term AVAX Analysis
Daily AVAX/USD Price Chart
Upon examining the current technical analysis of Avax, it can be observed that the price is moving near the $11.81 level. With the recent decline, the Avax price has retraced to around $12.24 and is currently trading at around $12.65.
The Avax price approaching the $11.81 level can be an attractive price point for investors. If Avax achieves daily candlestick closures above this support level, it can rise from the $11.81 support towards the $14 level.
If Avax achieves daily candlestick closures above $14, it can set its next target at $15.45. If it surpasses this level, it can extend its target towards $16.84.
However, if Avax achieves daily candlestick closures below the $11.81 level, it can continue its downward movement towards the $11.29 level. Additionally, if it fails to maintain the $11.29 support, it can further extend its decline to $10.82.
Will Avax Be Able to Maintain Its Short-Term Support?
2-Hourly Avax/USD Price Chart
Upon examining the short-term technical analysis of Avax, it can be seen that the price encountered strong buying demand from the support zone of $12.35 – $12.11 and reached the $12.629 level with a 3% increase.
If the strong buying demand continues in the mentioned support zone of $12.35 – $12.11, the AVAX price can continue its rise towards the $13.67 level. However, if AVAX achieves 2-hourly candlestick closures below the $12.11 level, it can extend its decline to around $11.80.
In the short-term analysis, many AVAX whales expect a decline towards the support range of $11.44 – $11.15. If a decline occurs within this support range, significant buying demand can be encountered.
AVAX investors should carefully monitor the mentioned support and resistance zones in the analysis.
