AVAX Technical Analysis: Inspired By The 200-Daily Average

The rise in the leading cryptocurrency Bitcoin continues to affect Avax positively, affecting all altcoins. The 9% rise in Bitcoin yesterday found a response of about 10% on Avax’s side. Avax, which started the day at the $ 18.15 level yesterday, closed at $ 19.94, with an increase of 9.92%. If the rise in Bitcoin continues, positive signals continue to come that Avax will accompany Bitcoin. Starting the day at $19.94, Avax continues to trade at 19.74 levels with a 1% loss.

Avax Chart Analysis

Having regressed to the EMA55 support level a few days ago, Avax took its place above the EMA5 and EMA21 levels with the increase in purchases in Bitcoin, forcing the 200-day average, which is the biggest resistance, EMA200 last night. Unable to complete the day above 20.26, which is EMA200, Avax is stuck between EMA5 and EMA200. Therefore, firstly, $ 20.26 and above $ 21.62 levels appear as the resistance point. In case of possible pullbacks, the $19.06 (EMA5) and $18.83 (EMA21) can be followed as support points.

AVAX Technical Analysis: Inspired By The 200-Daily Average

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.

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Dareen Cone

Experienced Journalist with a demonstrated history of working in the financial services industry. Skilled in Management, Banking, Strategic Planning, Business Development, and Teamwork. Strong community and social services professional with a Bachelor's Degree focused in Economics.

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