Avalanche price analysis: AVAX Coin is losing momentum, but fundamentally solid

  • The price action of the AVAX coins is rejected by the resistance of $ 14.25 during the intraday trading session.
  • The 24-hour trading volume is $ 58 million.
  • The AVAX / BTC pair is trading positive at 0.00034200 BTC, up 4.3%.

The technical daily chart of the AVAX coin shows an upward trend. According to the pivot levels, the primary support level is $ 10.60. On the other hand, when it rushes up, that is the resistance level to follow $ 15.35. Although the chart forms a bearish Harami candlestick pattern during the day, it is predicted that the price can remain bearish with medium confidence.

The zig-zag framed a high of $ 60.05 on February 10. After that, investors can see a massive 85% correction down to $ 9.35. Now price levels are back in the $ 10 range this week.

The volume of (287) is below the MA of 20 days (1,816K). As a result, the volume in AVAX is too low, which causes the price to hover around the pivot zone. Investors may also point out that the volume bars on the chart are bearish, suggesting that notable volatility is expected in the upcoming trading session.

The MACD indicator gives (bullish) Crossover above the signal line on July 26th, indicating a buy-signal in the coin. Additionally, investors can see faded green bars in the Histogram Index.

Avalanche (AVAX) coin is gradually recovering from the bottom

The current price of Avalanche is $ 13.34, with a 24-hour trading volume of $ 58,867,228. The price of the AVAX coin has increased 6.1% in the past 24 hours. It has 170 million AVAX coins and a total inventory of 378 million. Additionally, the price broke out of the $ 12.40 pivot zone. The MACD indicator is showing a buy signal and traders have passed a flat volume. Technically, the price shows signs of sustainability and remains in an upward trend. Therefore, like general market sentiment, the trend remains bullish.

Resistance Level: $ 15.35

Support Level: $ 10.60

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