- In the hourly AVAX chart, it’s approaching the $11.07 resistance. If it closes below $10.83, it could potentially drop to the range of $10.37 – $10.207.
- In the 12-hour AVAX chart, it’s nearing the resistance range of $10.74 – $11.02. If it closes above $11, it has the potential to rise to $12.08.
- If AVAX drops to the range of $10 – $9.72, it could initiate an upward movement from these levels and reach between $11.02 and $12.08.
AVAX should pay attention to specific resistance and support levels. Closures above or below these levels are significant, and investors should determine their trading strategies based on these levels.
AVAX Middle-Term Analysis
When analyzing the 12-hour technical chart of Avalanche (AVAX), it can be observed that it has risen into a resistance zone between $10.74 and $11.02. If the AVAX price manages to achieve daily candle closes above the $11 level, it may sustain its upward movement towards the next resistance zone at $12.08.
However, if the AVAX price cannot secure daily candle closes above the $11.02 resistance level, it might expand its downward movement, first towards $10.30, and then potentially down to $10. Therefore, AVAX investors should carefully monitor any selling reactions that may come from the $12 level.
If the AVAX price drops into the range of $10 to $9.72, it could potentially initiate its upward movement from this range, targeting $11.02 first, and then possibly advancing to $12.08. Consequently, investors considering spot investments within the $10 to $9.72 range should be cautious if daily candle closes fall below $9.32.
Short-Term AVAX Analysis
When looking at the hourly technical chart for Avalanche (AVAX), it’s approaching an important resistance zone at $11.07. If the AVAX price doesn’t close above $10.83 with hourly candles, it may extend its downward movement towards the range between $10.37 and $10.207.
However, if the AVAX price encounters strong buying responses within the support range of $10.37 to $10.207, it could initiate an upward movement from this zone, targeting first the $10.56 level and then potentially reaching $11.07.
On the other hand, if the AVAX price closes below the $10.207 level with hourly candles, it might extend its downward movement to as low as $9.82. Therefore, AVAX investors should exercise caution regarding movements below the $10.20 level.
