AVAX/USD Touches the Intraday High at $117 Level – Cryptovibes.com – Daily Cryptocurrency and FX News
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Avalanche Price Analysis – December 18
The Avalanche is showing overall growth as the price targets the key resistance at the $120 level.
AVAX/USD Market
Key Levels:
Resistance levels: $135, $145, $155
Support levels: $95, $85, $75
AVAX/USD is currently trading with upward momentum as the price hovers above the 9-day and 21-day moving averages. They look at the daily chart expect a bigger hit in the market soon as the price remains at the upside. However, it seems that the coin is about to fulfill its desire as the technical indicator Relative Strength Index (14) moves to cross above 60-level. Therefore, if AVAX continues to move with a similar momentum, it wouldn’t be difficult to reach a higher level in the next positive moves.
Avalanche Price Analysis: Avalanche (AVAX) May Rally Above $120
The daily chart reveals that AVAX/USD is moving towards the upper boundary of the channel at $117. If the market can break away this time, the price of AVAX may likely hit the resistance level of $135, $145, and $155. However, if the upper boundary acts as a defensive line for the bears, a massive sell-off may likely flood the market to the support levels of $95, $85, and $75 respectively.
AVAX/BTC Market: Consolidates Toward the Upside
Against Bitcoin, the coin begins the upward movement on December 14 and the bulls have steadily marched towards the resistance level of 2500 SAT. In addition, the trend may continue to rise if buyers continue to maintain the pressure as there is even more room to hold a long position for AVAX traders.
Therefore, the AVAX price is likely to go up as high as 3000 SAT and above if the bulls push the price above the upper boundary of the channel. At the same time, traders may expect more volatility in the next few days and a possible downtrend may likely meet major support at the 2000 SAT and below. Presently, the technical indicator Relative Strength Index (14) is moving into the overbought zone in the long-term for AVAX, indicating a bullish movement.
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