Avalanche (AVAX) Price Analysis: What's the Next Direction?

The price of Avalanche (AVAX) has risen above the support level of $22 and has broken above the moving average lines and resistance at $30.

Avalanche (AVAX) price has risen from the support level of $22, breaking above the moving average lines and resistance at $30.

Avalanche bullish long-term analysis: AVAX is set to reach a high of $40 if the positive momentum continues.

On the upside, AVAX will rise to a high of $60 if it breaks through the barrier at $40. However, if buyers fail to sustain the upside momentum above $30 or break the barrier at $40, AVAX will fall, returning to its previous range. The altcoin will resume trading within the price range of $20 to $30. The cryptocurrency had earlier recovered from the bottom of the chart.

Avalanche indicator analysis

The price bars have risen above the moving averages following the current price increase. The horizontal moving average lines are trending upward, indicating an uptrend. Two candlestick wicks point to the current high, indicating strong selling pressure.

Technical Indicators:

Resistance Levels – $60 and $70

Support Levels – $30 and $20

What is the next direction for Avalanche?

On the 4-hour chart, AVAX is フラット after encountering resistance at $38. The altcoin is hovering above the moving average lines but below the resistance at $38.

Currently, the altcoin is falling near the moving average lines. If the cryptocurrency manages to stay above the moving average lines, the フラット movement will continue. Sell pressure will resume if the price falls below the moving average lines.

As reported by Coinidol.com on November 11, AVAX reached a high of $33 before stalling.