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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
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.

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Lucien Renard
Lucien Renardhttps://en.coinotag.com/
Lucien Renard is a 24-year-old writer specializing in cryptocurrency analysis and price action. With a focus on technical analysis, Lucien provides valuable insights into market trends and potential opportunities for investors.
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