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Home » Price Analysis » Avalanche Price Analysis: AVAX Explodes 25% in Two Days, Will the $100 Resistance Fall?

Avalanche Price Analysis: AVAX Explodes 25% in Two Days, Will the $100 Resistance Fall?

Author: Duo Nine

Last Updated Feb 16, 2022 @ 16:15

AVAX rallied in the past two days, reaching $97 before being suppressed by the key resistance.

Key Support levels: $78

Key Resistance levels: $95, $115

AVAX performed much better than the overall market, with a 25% price increase in the past two days after touching the key support at $78. Now, the price rallied to the key resistance at $95, where it is facing some difficulties to move higher. Should it fail, AVAX’s can fall to around $80 and still maintain the uptrend intact.

AVAXUSDT_2022-02-16_17-46-39
Chart by TradingView

Technical Indicators

Trading Volume: The volume in the past few days was considerable and has pushed the price to almost $100.

RSI: The daily RSI failed to make a higher high compared to the price, which may be indicative of a bearish divergence. It is crucial for the price to move higher, otherwise, this may be a warning sign to bulls that bears may resurface.

MACD: The MACD on the daily is bullish, and the histogram is back at making higher highs. This is good news for bulls.

AVAXUSDT_2022-02-16_17-46-47
Chart by TradingView

Bias

The bias for AVAX is bullish in the short term. However, the $100 level is an important resistance to consider, and it’s critical to be vigilant as the price approaches it.

Short-Term Price Prediction for AVAX

The indicators are generally bullish, and if the volume continues to remain high, then AVAX has a great shot at moving past the key resistance and achieving a three-digit valuation at over $100 again. If successful, the next key resistance will be found at $115.

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.
Tags: Avalanche (AVAX) Price
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About The Author

Duo Nine
More posts by this author

Duo Nine is a crypto educator and a seasoned technical analyst with over seven years of experience in price action trading. After buying his first Bitcoin in 2014, Duo never left this space. He also has a cool crypto community on Discord with over 3,500 members where he posts charts, opinions on the market and guides new members. Contact: Twitter | Community

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