The price of Avalanche (AVAX) has recovered and is approaching the $26 level.
Avalanche price long term analysis: ranging
The $26 barrier denotes the upper price range of the cryptocurrency as it continues its sideways trend. Since July 21, AVAX has been trading in a range of $21 to $26, as Coinidol.com wrote previously.
Today, the cryptocurrency is rising in an attempt to retest or break through the upper resistance level of $26. This is the fifth time that buyers have unsuccessfully attempted to break through the aforementioned resistance. A break above the resistance will propel the altcoin to a high of $36. The price of the cryptocurrency has paused below $26. Today, AVAX is valued at $25.13.
Analysis of the Avalanche pricre indicator
The price bars on both charts are above the horizontal moving averages. The altcoin has fallen below the resistance level of $26. The price bars are moving steadily below and above the moving average lines.
What is the next direction for Avalanche?
AVAX’s price has remained range-bound while above the moving average lines. Bullish momentum will challenge or break the $26 level. A break above the barrier will signal the continuation of the upswing. A rejection of the current high will signal the continuation of the sideways trend.
Disclaimer. This analysis and forecast are the personal opinions of the author. They are 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.
