- The hourly chart analysis of AVAX shows that it is moving below $10.26.
- Breaking the $10.56 resistance could take the upward trend to $11 levels.
- The nearest support levels are $10.13, $10.01, and $9.89; if the price receives a strong buying response at these levels, an upward movement may begin.
The hourly technical analysis of AVAX indicates a movement below $10.26. Closures above $10.56 support the upward movement, while closures below $9.89 can accelerate the downward trend. On the daily chart, closures above $10 increase the likelihood of continuing the upward trend, while closures below $10 can target the weekly support level of $9.32.
Medium-Term AVAX Price Analysis
Daily AVAX/USD Price ChartWhen examining the daily technical chart of AVAX, it is emphasized that the price needs to close above certain levels on a daily basis in order to initiate the upward trend. The nearest support level is determined as $10, and if the price remains above this level, there is a possibility of continuing the upward trend.
However, if AVAX experiences a sharp drop below $10 in the coming days and closes below $10 on a daily basis, it is recommended for investors to review their positions. If the price closes below $10, the downward trend can extend to the weekly support level of $9.32.
A strong buying response from the $9.32 level is of great importance in terms of restarting the upward trend. If the price starts to rise from the mentioned support levels, the first target is indicated as $11.02. If the price can close above $11.02 on a daily basis, the next target is seen as $12.30.
From Which Level Can AVAX Initiate Its Rise?
When examining the hourly technical chart of AVAX, it is observed that the price is moving below $10.26. Currently, AVAX is trading around $10.219. If the price can close above $10.26 on an hourly basis, it may aim to continue the upward trend up to $10.56 levels.
Breaking the $10.56 resistance and closing above it on an hourly basis can take the upward trend to $11 levels. Therefore, candle closures above $10.56 are important.
The nearest support levels are $10.13, $10.01, and $9.89. If AVAX receives strong buying responses at these support levels, it can initiate the upward trend from these areas. However, if the price closes below $9.89 on an hourly basis, the downward movement can extend to $9.658 levels.
