Avalanche Price Analysis: AVAX Coin Trades into the Triangle Pattern; Will it hit $30-Resistance? 

  • The Avalanche coin displays a slight uptrend above the upwards trendline.
  • Last week traders saw a Long-legged Doji candle, also the price was observed inside it this week.
  • The trading volume dropped by 18% over the last night at $453 Million. 

The Avalanche (AVAX) coin again started to deny bears’ orders as it seems to be bullish for the past several days. In between Mid-April to Mid-May, bears scary became the witness of sharp decline, where buyers saw a novel 2022 low at $13.7 mark. This was an excellent trend-changing point for bulls.

Buyers barely manage to keep AVAX price under uptrend, and price action suggests the higher-lows formation in the course of the daily price scale. Also, bears continue to sell altcoin near the short-term downsloping trendline (below the chart). Meanwhile, the Avalanche coin is trading at $23.8 Mark at the time of writing. 

Bears seem to be exhausted after a dramatic decline in 2022. As a result, AVAX bulls are going to push asset above the downsloping trendline (white). Last week traders saw a Long-legged Doji candle; also, a price was observed inside a previous weekly candle. Amid uptrend, the market cap reached above $6.78 Billion in the last 24 hours. 

Above this immediate bullish hurdle, buyers may struggle near the $30-round level. Besides, in recent dip, price action noted bullish hammer candle bear $20 level, so may act as short-term support if h price fails to move above the bearish trendline. Meanwhile,  trading volume dropped by 18% over the last night at $453 Million.

Buyers Have Set Buying Order at 20-DMA

In the course of the daily price scale, the 50-day moving average remains below the current price of AVAX. At the time, the bulls barely defended themselves above 20 DMA (White). Moreover, the RSI indicator again turned towards the overbought zone after taking support at the semi-line. 


Avalanche (AVAX) coin is trading above the 20-day moving average, suggesting an uptrend until price reaches 100-DMA. Although the asset price looks below the downsloping trendline, buyers need to break this bullish hurdle. 

Support level – $16 and $10

Resistance level – $22 and 30


The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

Nancy J. Allen
Latest posts by Nancy J. Allen (see all)

Related Posts

Ethereum Merge Attracts Institutional Investors

ETH Price at the time of writing – $1,708.65 The Merge aims to eliminate the energy-intensive mining process ETH Market Cap – $208,138,530,752 The planning of the…

What The Impending Triple Halvening Means

There can be a yearly reduction in ETH issuance from 4.3% to 0.4% EIP-1559 was the Ethereum upgrade that removed a third of all transaction fees Withdrawals…

Cleanspark Acquires Plug-in-Ready Bitcoin Mining Facility

BTC Price at the time of writing – $23,093.05 The crypto asset’s hashrate slipped 1.7% lower in Q2  The new facility has the capacity to host up…

 Nuri, The German Crypto Bank, Has 500K Users Files For Insolvency

Nuri stated that it has been facing a lasting strain on its business liquidity The reason is – significant macroeconomic headwinds and the cooling down of public…

Iran Makes $10M Import With Crypto

No Result View All Result © Copyright 2022. The Coin Republic Are you sure want to unlock this post? Unlock left : 0 Yes No Are you…

 Virtual Malibu Mansion Built And Owned By Paris Hilton

OG crypto sovereign Hilton is reinforcing her Web3 presence Sandbox provides a creative space that allows anyone to let their imagination come to life Paris World will…