Avalanche (AVAX) has recently shown a strong correctional upswing, sparking renewed interest among investors and traders. This upward momentum comes after a rejection at $23.49 and indicates a potential challenge to the $30.34 resistance level. As AVAX approaches this critical threshold, market participants are closely watching to see if the cryptocurrency can maintain its bullish trajectory and break through the resistance. The $30.34 level is now a focal point, determining whether Avalanche can sustain its rally and continue to climb higher. This article focuses on the use of technical indicators to examine AVAX’s current price movement to predict potential Scenarios if the price reaches the $30.34 resistance level. Analyzing Avalanche’s Current Upswing Currently, on the 4-hour chart, the price of AVAX is actively trading above the 100-day Simple Moving Average (SMA). Although the price tends to be moving in a consolidating manner, there are possibilities that it could extend its upswing. Also, while the signal line of the 1-day Relative Strength Index (RSI) signals that the price of Avalanche may go bearish, this is just a short-term moveme ..
Support the originator by clicking the read the rest link below.
