Will Avalanche (AVAX) PRICE bounce from $ 20 for a breakthrough Trendline Breakout to the mark of $ 32.80?
Avalanche is one of the fastest altcoins on a crypto market after a recent crash. The price of AVAX marks the intraudic surge by 1.92%, maintaining dominance near psychological support for $ 20.
With the growing interest of buying, AVAX now seeks to challenge the local line of resistance trend. Will this bull impulse lead to a breakthrough, or another decline in front?
AVAX Price Trend: Signs of Change?
In the daily graphics, Avax Price Daise reveals a strong phase of correction after an unsuccessful attempt to maintain higher levels. The recent descending trend led to a bear crossover between 100-day and 200-day EMA, which increased the risk of an expanded bear cycle.
Currently, AVAX token is trading $ 22.33, hinting at the potential morning star. This bull template was formed after a lower price of price yesterday from $ 20.30, which offers strong support at this level.
Further strengthening of the prospects of the bull, the daily RSI line demonstrates a bull discrepancy, which indicates a potential change in the trend in the AVAX market. If buyers support the impulse, AVAX can soon challenge the line of the resistance resistance trend.
Kitty accumulation: positive signal for an avalanche?
Receiving the hopes for the bull Return, the Avalanche network experienced a revival in transactions with whales. According to IntoTheblock, large transactions on the network are restored after a long decrease.
Over the past three months, the number of transactions with whales has significantly reduced from 1.52 thousand transactions per day to 210.
This renewable whale activity implies a growing confidence in AVAX, which can soon arouse a strong restoration of prices.
Key prices: the desire to break through or the rejection of what you could?
AVAX is located for a potential change in the trend with increasing interest in whales and growing demand. According to Fibonacci recovery levels, a breakthrough above the resistance may push AVAX to the recovery level of 38.2% at the level of $ 32.80.
This key resistance zone corresponds to the 200-day EMA in $ 32.48, which makes it a decisive obstacle to bulls. On the other hand, AVAX remains vulnerable to further risks.
If the price does not contain more than $ 20, a bearings can drag AVAX to $ 17.28 with a bear, its previous large level of support.
