AVAX Technical Analysis: Biggest Support EMA200

AVAX, which ranks sixteenth behind the leading cryptocurrency Bitcoin, continues to give a positive image in the crypto market. Having regressed to the EMA55 level last week, AVAX is trying to continue its upward trend by taking advantage of its purchases in Bitcoin. AVAX, which retested the 21.62 resistance two days ago, has consolidated its position above the averages, despite selling from this region. Starting at the $ 20.98 level yesterday, AVAX closed the day at $ 20.32 with a decrease of 3.15% with subsequent purchases, although it fell to $ 19.58 with the selling pressure in Bitcoin.

AVAX, which started today at $20.31, is trading at $20.52 with an increase of 0.98% at the time of writing.

AVAX Chart Analysis

Facing selling from the 21.62 resistance zone, AVAX has consolidated its position above 20.24, the most significant support EMA200, and 20.34, the EMA5. I expect it to try the $21.62 resistance level again as closes are made above these levels. If it breaks above the $21.62 resistance level, I think it will attack the $22.79 resistance level. In case of possible pullbacks, I believe the $20.34 EMA5 and $20.24 EMA200 levels will be our first support points.

AVAX Technical Analysis: Biggest Support EMA200

This article does not contain investment advise or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

You might check: Bitcoin Technical Analysis: Down Trend Again

Pieter Aven

Pieter Aven is a business and financial journalist based in Boston covering stories at the intersection of business, technology and finance. He holds a degree in Germanic languages from the University of Brussels and a degree in journalism from Boston University.

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