The price of Avalanche (AVAX) is traded at the level of $ 34.28 during the press, with a 24-hour volume of 410.54 million dollars. The USA, which has decreased by 17.72% last week.
AVAX has a circulating offer of more than 411 million tokens and market capitalization of $ 14.11 billion.
Since cryptocurrencies checks the level of Fibonacci recovery for $ 32.43, a critical moment, we will see if this zone can inspire new maximums or lead to a further increase.
Fibonacci recovery testing $ 32.43
The critical support zone during market corrections is believed to be $ 32.43, which coincides with 38.2% of the level of Fibonacci recovery.
At this level, AVAX will potentially form a key point for handling bull, already retreating 38.2 percent of the previous height.
The recovery level of 38.2% is historically the area where a new increase in prices is launched.
If this support is held, Avax Price can move upward to resistance at 50 dollars.
Nevertheless, if a break below this level is probably more drops, while potential support in the region is $ 26–29 (50%, 61.8% of Fibonacci recovery zones).
This level is the moment to “make or break” to restore cryptocurrency, but traders monitor this.
Avax Price technical indicators reflect a mixed impulse
AVAX is slightly higher than the lower lane of Bolinger in 32.02 dollars. On a daily diagram, which involves potentially resold conditions.
The key resistance comes from the upper band of the Bolinger in $ 41.01, and the middle line is 36.51 US dollars.
A break under the lower strip can see AVAX Return to check the support of $ 30.
Market moods are weak as indicators of the impulse. It has a negative impulse, since the RSI (relative force) is currently at 37.28, just below the overestimated territory.
But you will need a stable move above 50 to show an increase in interest for the purchase.
MACD indicates a bear pulse, with a signal line (-1,20) below the MACD (-0.39) line and narrowing histogram rods, suggesting that the sale of the sale can slow down.
Open interest and participation in the market
According to Coinglass, Avax Open, the interest on futures amount to 653.27 million dollars. The USA, which has decreased by 4.20% by 4.20% by 4.20%.
Nevertheless, the open percentage remained high throughout the year and reached almost $ 800 million, which suggests that traders continue to appear.
An open percentage usually pops up to the volatility of prices, and current values indicate that the confidence of the market in Avax remains high.
In addition, Avax’s daily trading volume also increased by 5.17 percent to 595.31 million, which shows a high participation in the market.
The data show that there is a lot of attention at the level of AVAX prices in the amount of $ 32.43 by traders, which are likely to respond to cryptocurrency prices leaving the key zone.
