AVAX Price Prediction: Will it Experience a Drop to $9? August 30th AVAX Analysis

  • The AVAX price has risen to the range of $10.74 – $11 according to the previous analysis.
  • If the price continues to close daily candles above the $10 level, the upward trend can be sustained.
  • However, if closures below $10 are observed, the downward movement can continue to $9.32.

The AVAX price has moved its upward movement to the range of $10.74 – $11 according to the previous analysis. If the price continues to close daily above $10, the upward trend can be sustained, while closures below $10 can lead to a decline to $9.32.

Medium-Term AVAX Analysis

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

On August 27th, as indicated in the analysis, the AVAX price moved its upward movement to the range of $10.74 – $11 and experienced a 7% increase. Currently, AVAX is trading at $10.40.

If the AVAX price continues to close daily above $10, it can maintain its upward trend. However, if daily closures occur below $10, the downward trend can reach $9.32.

If AVAX achieves daily closures above $11 again from these levels, it can restart the upward trend. If closures above $11 are achieved, the next target could be $12.34.

Short-Term AVAX Analysis

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

When examining the price chart of AVAX, as mentioned in the previous analysis, it can be seen that the rise occurred with the candle closures above the yellow resistance zone up to the $11 levels, and then the decline started from $11.

If the AVAX price achieves 2-hour candle closures above $10.26, it may have the possibility to restart the upward trend. However, if candle closures occur below the $10.26 level, there is a possibility of continuing the downward movement to $10.

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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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