Avalanche Rises and Bounces above $13.00

The price of Avalanche (AVAX) has moved back above the moving average lines after falling to a low of $11.26.

AVAX price long-term analysis: bullish

AVAX is rising from the bottom of its chart. Buyers have pushed the price above the moving average lines, reaching a high of $13.96. On the upside, the cryptocurrency is expected to continue rising towards previous highs but will face initial resistance near $15.00.

Since November 15, buyers have not managed to keep the price above the $15 mark. If buyers overcome the resistance at $15, AVAX could surge further to highs of $18 or $20. If buyers fail to break through the $15 resistance, the altcoin will remain above the moving average lines and be forced to trade within a range.

Technical Indicators:

AVAX price indicators analysis

AVAX has regained bullish momentum by breaking above the moving average lines. The moving average lines continue to slope downwards towards the bottom of the chart.

On the 4-hour chart, the price bars are above the upward-sloping moving average lines. The crypto is likely to appreciate as long as the price bars remain above the moving average lines.

What is the next move for AVAX?

AVAX’s price is trading in a positive trend zone after breaking above the moving average lines. On the 4-hour chart, the price has stalled below the $14.50 high. The cryptocurrency price is bouncing below the $14 high but remains above the moving average lines. On the upside, if the barrier is broken, AVAX will reach a higher level of $15.

Disclaimer. This analysis and forecast are the personal opinions of the author. The data provided is collected by the author and is not sponsored by any company or token developer. This is not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by Coinidol.com. Readers should do their research before investing in funds.