• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
No Result
View All Result
Breaking News: Bitcoin Soars to $21,500 On "Hated Rally," Is There Fuel To Keep Rising?
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Bitcoin Soars to $21,500 On "Hated Rally," Is There Fuel To Keep Rising?
Avalanche

Avalanche Fires Back to $17; Can The Bulls Push More To $20 Instead?

jamesobande by jamesobande
3 months ago
in Technical analysis
Reading Time: 3 mins read
Advertisement
  • AVAX’s price shows strength as it bounces from a downtrend with high volume, aiming for a rally to $20.
  • AVAX faces a rejection to trend higher above $17 after the price fell sharply below key resistance.
  • AVAX’s price remains strong below the 50 Exponential Moving Average (EMA) as it attempts to rally past a key area.

The price of Avalanche (AVAX) has remained strong as it approaches the $17 region, facing resistance to rising to the $20 region. The crypto market has appeared more stable this week, with Bitcoin (BTC) and Ethereum (ETH) experiencing significant price movement. This new relief rally in the crypto market has benefited smaller coins such as Avalanche (AVAX), which has rallied from its downtrend movement to a high of $17 as price attempts to break through key resistance. (Data from Binance)

Related Reading: Why These Major Crypto Wallets Acquired Over 100 Million XRP In Last 24 Hours

Avalanche (AVAX) Price Analysis On The Weekly Chart

Weekly AVAX Price Chart | Source: AVAXUSDT On Tradingview.com

Although many altcoins have struggled to trend in a range market, the price of AVAX has seen more of a downtrend move as the price of AVAX dropped from a high of $150 to $15, seeing more than an 80% decline in its price.

AVAX’s price recently declined from an all-time high of more than $150 to a region of $75 before rallying to a high of $100; the price of AVAX faced further rejection to its price to a range low of $60. 

Get 30 FREE SPINS at Punt Casino - NO DEPOSIT REQUIRED! Start Playing Now.
No Deposit 40 FREE SPINS at Wild.io on SIGN UP. Wheel of fortune, daily bonuses, 10 BTC in prizes monthly! Start Playing Now!

The price of AVAX bounced immediately, forming pin bar candlesticks as the price rallied to $96 with what seemed to be a relief for more rally to the upside.

AVAX’s price faced a much bigger rejection at $96 as the price has continuously declined from this high to a weekly low of $15, where the price attempted to rally high but with less volume accompanying this rally.

Despite AVAX rallying from its weekly low, the price failed to break past the resistance at $35.3, corresponding to Fibonacci’s retracement value of 23.6%. The price to break the resistance at $35.3 for more relief.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

Weekly resistance for the price of AVAX – $35.

Weekly Support for the price of AVAX – $15.

Price Analysis Of AVAX On The Daily (1D) Chart

Daily AVAX Price Chart | Source: AVAXUSDT On Tradingview.com

In the daily timeframe, the price of AVAX remains strong and trades above the key Support formed at $15 after the price rallied from its daily low, with the current market looking favorable for most crypto assets.

The price of AVAX needs to break and hold above 50 EMA, acting as a strong resistance to the price of AVAX. The price of $17.50 corresponds to the value of 50 EMA, acting as resistance for the price to break higher to a region of $20. 

Daily resistance for the AVAX price – $17.50.

Daily Support for the AVAX price – $15.

Related Reading: Bitcoin’s Break Above $20,000 Sees Market Liquidations Cross $1 Billion
Featured Image From zipmex, Charts From Tradingview 
Tags: Avalanche (Avax)AVAXAVAX Price
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
jamesobande

jamesobande

James is a blockchain writer and technical Analyst with more than five years of experience in the crypto space.

Related Posts

XRP Whales Accumulate Almost 60.2 Million Tokens, Is A Bull Run Coming?

XRP Whales Accumulate Massive Tokens – Is A Bull Run Coming?

4 days ago
Solana Price Rallies Over 10%

SOL Price Prediction: Solana Rally Could Gather Pace above $30

4 days ago
Ethereum Price

Ethereum Price Holds Ground And Sees Fresh Rally, Bulls Are Not Done Yet

5 days ago
Bitcoin Altcoins FTX

Bitcoin Price Resumes Increase as The Bulls Aim Larger Rally To $25K

5 days ago
Polkadot’s DOT Eyes Fresh Rally

DOT Price (Polkadot) Indicators Suggest Strong Case For Fresh Rally

5 days ago
Ethereum

Ethereum Price Drops 6% and Signals Risk of Trend Change Below This Support

6 days ago

Premium Partners

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Metaspins

Metaspins

Review · Visit
Trust Dice

Trust Dice

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
Coinplay

Coinplay

Review · Visit
mBit

mBit

Review · Visit
Vave

Vave

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
Coinplay

Coinplay

Review · Visit

“Gold has been the best performing investment asset over the last two decades”: an interview with Easygold

January 30, 2023

The Crypto Dream Team: Binance Coin (BNB), Polygon (MATIC) and Orbeon Protocol (ORBN)

January 30, 2023

Polygon (MATIC) and Fantom (FTM) Are Losing Favor With Investors As They Turn To Snowfall Protocol (SNW) For 1000x Potential Gains!

January 30, 2023

Tezos (XTZ) shares its 12th protocol upgrade, Twitch Co-Founder’s Gaming NFT Marketplace Expands to Polygon (MATIC) Network while Snowfall Protocol (SNW) Breaks Record Highs

January 30, 2023

Snowfall Protocol Investors Happy After the Release of Snowfall DEX, Twitch Co-Founder’s Solana Gaming Platform Fractal Expands to Polygon, And Majority of Dogecoin Holders Are in Profits Despite the Meme Coin Being Down 87% From Its 2021 ATH

January 30, 2023

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.