Avalanche Maintains Its Bullish Rise Above $20

The price of Avalanche (AVAX) has resumed its uptrend after retracing above its moving average lines. Avalanche price long-term analysis: bullish The initial rally failed twice at the $23 barrier. The altcoin will resume its uptrend if it pulls back above the moving average lines and stays above them. AVAX will reach highs of $28 to $31 if buyers push the price above the $23 threshold. The price of the altcoin is bearish today. If it declines and falls below the 50-day SMA, it will drop to $15. In other words, the altcoin will fall and start a range between $15 and below the $23 resistance level. AVAX, on the other hand, is trading in the positive trend zone at $21.28. Avalanche indicator analysis It is likely that AVAX will continue to rise in a good direction as it pulls back and stays above the moving average lines. The bulls need to defend the 50-day and 21-day SMA support to prevent the altcoin from falling into the negative trend zone. A price collapse or recovery could take place if the cryptocurrency consolidates above the moving average lines. Technical Indicators: Key Resistance Levels – $60 and $70 Key Support Levels – $30 and $20 What is the next direction for Avalanche? AVAX is currently in a sideways movement after the uptrend was halted at the $23 level. On the 4-hour chart, the price of the altcoin is fluctuating between $20 and $23. The price movement is characterized by doji candlesticks, which cause the altcoin to move continuously in a range. The altcoin develops when the fluctuation ranges are broken. Coinidol.com reported on April 23 that t he price of Avalanche broke above the moving average lines, regaining its upside momentum. The cryptocurrency peaked at $23 but was halted. Disclaimer. This analysis and forecast are the personal opinions of the author. They are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds. Source: https://coinidol.com/avalanche-bullish-rise/