- According to the technical chart of AVAX, the $14.01 level appears to be a significant resistance zone and has faced selling pressure.
- For AVAX’s price to rise, it needs to close daily candles above the $14 level mentioned in the analysis.
- If AVAX surpasses the $15.45 resistance and closes daily candles above it, the target becomes $16.84. Therefore, investors should closely monitor the $14 resistance level.
AVAX’s price can initiate its rise from the critical support range of $11.44 – $11.15. Investors are waiting for the breakout of the $13.68 level for the upward trend to continue.
Medium-Term AVAX Analysis
Daily AVAX/USD Price Chart
When examining the daily technical chart of AVAX, it can be seen that it faced selling pressure at the significant resistance zone of $14.01. Unless AVAX can close daily candles above the $14 level, it may experience a downward movement towards the $11.81 level.
For AVAX’s price to rise, it needs to close daily candles above the $14 level mentioned in the analysis. If AVAX manages to break and sustain above the $14 resistance with daily candle closes, it can rise towards the $15.45 level.
If AVAX also closes daily candles above the $15.45 resistance, the upward target becomes $16.84. AVAX investors should closely monitor the $14 resistance level for spot investments.
AVAX whales are waiting for the $11.81 level for significant buying opportunities. If AVAX encounters strong buying pressure from the range of $11.81 – $11.47, it can initiate its rise from the $11.81 – $11.47 support range towards the $16.85 levels.
Short-Term AVAX Price Analysis
2-Hour AVAX/USD Price Chart
When examining the short-term technical chart of AVAX, it can be seen that it continues its price movements within a descending channel structure. If AVAX’s price closes above the upper trendline of the blue lines mentioned in the analysis, it can initiate an upward trend.
If AVAX’s price closes below the $12.12 level, it can experience a downward movement towards the $11.44 – $11.15 support mentioned in the analysis. If AVAX encounters strong buying pressure from the $11.44 – $11.15 support, it can initiate its rise towards the $14.20 levels.
If AVAX fails to sustain above the $13.68 level with 2-hour candle closes, it may prefer to move towards the $11.44 – $11.15 support range instead of continuing its rise.
