The price of Avalanche (AVAX) has been fluctuating within a range of $32 to $45 since December 20, 2024. This consistent pattern indicates that traders are buying during dips and selling during rallies.
Avalanche Price Long-Term Analysis
On January 19, AVAX dropped below the 21-day simple moving average (SMA), hitting a low of $35. Currently, bears are testing this support level. If selling pressure continues, the price could decline further to $32. However, if the $35 support holds, bulls may step in to push prices higher.
Since December 2024, the support level has remained strong, keeping AVAX within its established range. As of now, AVAX is trading at $35.01.
Avalanche Price Indicators
Recent price action shows that AVAX has dipped below key moving averages, signaling a potential downward trend. The moving averages remain flat, with a bullish crossover in place. Despite ongoing selling pressure, AVAX continues to trade sideways.
Key Levels to Watch:
- Resistance Levels: $60, $70
- Support Levels: $30, $20
What’s Next for Avalanche (AVAX)?
On the 4-hour chart, AVAX has been in a downtrend since January 19, attempting to hold the $35 support. The moving averages are acting as resistance, preventing upward movement. However, extended candlestick tails near the $35 level suggest strong buying interest at this price point.
If the bulls maintain support, AVAX could see a rebound toward the upper range of $45, while a breakdown might push it down to $32.
Conclusion
Avalanche (AVAX) remains in a tight trading range as market participants assess the next move. The upcoming days will be crucial in determining whether the current support level can hold or if further declines are on the horizon. Investors should watch the $35 support closely for potential trading opportunities.
