Avalanche (AVAX) surged from $22.35 on November 5 and surpassed the 20-day EMA ($25.59) on November 6, indicating strong buying at lower price levels.
Daily AVAX/USDT chart | Source: TradingView
The RSI has risen into the positive territory, indicating that the bulls are making a comeback. The AVAX/USDT pair may reach the resistance level, which is a key level to watch in the short term. If buyers overcome this barrier, the pair could start a new rally to $33 and then $37.50.
If the bears want to regain the advantage, they will need to quickly pull the price below $22.35. If successful, the pair could drop sharply to $20.50.