Cryptocurrency

AVAX/USD May Soon Hit $14 Resistance


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The Avalanche price prediction shows that AVAX could renew the bullish trend as the coin prepares for a bullish rally in the days to come.

Avalanche Prediction Statistics Data:

  • Avalanche price now – $13.67
  • Avalanche market cap – $4.2 billion
  • Avalanche circulating supply – $310 million
  • Avalanche total supply – $404.2 million
  • Avalanche Coinmarketcap ranking – #18

AVAX/USD Market

Key Levels:

Resistance levels: $18, $20, $22

Support levels: $10, $8, $6

AVAX/USD is currently changing hands at $13.6 with a slight gain of 1.92% since the start of the day. With this recovery, the coin is now hovering above the 9-day and 21-day moving averages. Avalanche takes eighteen places in the global cryptocurrency market rating, with a current market capitalization of $4.2 billion.

Avalanche Price Prediction: Would Avalanche Price Gain Additional Upside?

According to the daily chart, the Avalanche price is moving towards the resistance level of $14 as the initial move above this level could boost the price further up. The Avalanche (AVAX) hits the daily high at $13.78 before retreating to where it is currently trading. Looking at it from above, more bullish movements may come into play if the Avalanche price moves toward the upper boundary of the channel, and the nearest resistance level could be found at $15.

However, the traders can see that the daily movement remains in the hands of the bulls as the technical indicator Relative Strength Index (14) is moving to cross above the 50-level, building on the consistent recovery from the downside. Meanwhile, a break above the $16 level may most likely push the coin toward the potential resistance levels of $18, $20, and $22 while a drop toward the lower boundary of the channel may lead to the supports of $10, $8, and $6 respectively.

When compares with Bitcoin, the Avalanche is seen moving towards the north above the 9-day and 21-day moving averages. After the coin touches the daily high at 8119 SAT today, the coin later retreated to where it is currently trading. Meanwhile, the price will head to the upside if the buyers put more pressure on the market.

AVAXBTC – Daily Chart

Moreover, should the sellers return to the market, the Avalanche price may drop to the support of 7000 SAT and below. At the moment, the technical indicator Relative Strength Index (14) moves above the 50-level as the market faces the upward movement, while the resistance level could be located above the upper boundary of the channel at 9500 SAT and above.

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