$AVAX Technical Analysis – The Bulls Are Roaring!
🚀 Current Price: $38.97 (+8.55%)
💥 24H High: $39.99
🔽 24H Low: $35.18
📊 Volume Surge: 24H trading volume strong at 242.79M USDT, signaling high momentum.
Key Technical Insights:
1. Moving Averages:
• MA(7): $38.92 – Price is trading above the short-term MA, indicating bullish momentum.
• MA(25): $36.83 – The price breakout above this mid-term MA confirms sustained buying pressure.
• MA(99): $35.06 – Strong support has been established well above this long-term trendline.
2. Volume Analysis:
• Sharp increase in buying volume confirms strong demand. Bulls are stepping up, fueling the uptrend.
3. Resistance and Support Levels:
• Immediate resistance at $40.00 – A breakout here could open doors to $42+.
• Support around $36.50 – If bears take control, this will act as the first line of defense.
4. Trend Assessment:
• The rally from $32.31 lows shows a clear bullish reversal.
• Consistent higher highs and higher lows reinforce the upward trend on the 1H chart.
Next Move:
🔑 Breakout or Pullback?
• A confirmed break above $40.00 with volume could ignite another leg up towards $42-$45.
• If rejected, watch $36.50 as the key pullback zone.