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AVAX Price Prediction: Is a Rise to $11 Starting? August 27 AVAX Analysis

  • AVAX is trading near the $10.26 resistance level on the 2-hour chart.
  • Closing above $10.26 carries the potential for an upward movement towards the yellow zone.
  • Selling pressure from the yellow resistance zone could extend the decline to $10.13.

When examining AVAX’s 2-hour technical analysis, it can be seen that it is trading near the $10.26 resistance level. If AVAX closes above $10.26, it has the potential to carry its upward movement to the yellow zone.

Medium-Term AVAX Analysis

Daily AVAX/USD Price Chart
Daily AVAX/USD Price Chart

When examining AVAX’s daily technical analysis, an upward movement can be observed after the long-term liquidity cleanse at the $10 level. If AVAX continues to close above $10 on a daily basis, it may aim to carry its upward movement towards $10.74 initially.

If AVAX achieves daily closings above $10.74, it may show a desire to move towards its next target of $11. If closings above this level continue, it has the potential to extend its upward movement to $11.40 and then $12.

However, if AVAX fails to surpass the $11 resistance, it may extend the downward trend back to $10. It is important to closely monitor any selling reactions that may occur around the $11 level.

Short-Term AVAX Analysis

2-Hour AVAX/USD Price Chart
2-Hour AVAX/USD Price Chart

When examining AVAX’s 2-hour technical analysis, it can be observed that it is trading near the $10.26 resistance level. If AVAX achieves 2-hour closings above $10.26, it may have the intention to move towards the designated yellow zone.

However, if AVAX encounters selling pressure from the yellow resistance zone, it may extend its decline to the $10.13 level. However, if it encounters strong buying demand at this support level, it may have the potential to initiate its upward movement from this zone and reach up to $10.80.

If AVAX surpasses the $10.56 resistance, it should consider the next target of $11.07.

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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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