Avalanche (AVAX) is approaching the rough patch: Breaths are being held!

2024-01-24 03:30:00

Testing the lower levels as Bitcoin (BTC) corrects, Avalanche (AVAX) is heading towards an important price range.

AVAX, which saw a wave of selling with the downward movement of BTC, pin to $27.50, worried the ecosystem and its investors. Later, the major coin, which found strength from the increase of BTC**, started its upward price movement again. However, the fact that it is approaching a decision-making area has confused people.

It has reached a critical level from a psychological and technical point of view!

The $30-$32 band, which often worked as a support and resistance level in the past, has started to become important for AVAX again. The popular coin, which is priced towards these levels for now, will draw a positive outlook if it breaks the red box in volume and settles above it. In such a scenario, $34.24 – $37.77 – $42.81 – $45.31 and $48.67 can be followed as resistance, respectively. Developments in the Avalanche ecosystem will also play an important role in this process.

BTC’s daily close below $40,000, the stagnation of the Avalanche ecosystem, or the sharp declines in SOL will naturally pull the AVAX price to lower levels. In such a scenario, a retest of $27.73 may come first. Failure to maintain this level may lead to drops to $23.24 and $19.58.

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