Avalanche (AVAXUSD) struggles to get rid of its negative pressure - Analysis - 07-11-2024 $AVAX

The price of Avalanche (AVAXUSD) stabilized on the rise during its recent trades at the moment levels, supported by the occurrence of positive signals from the relative strength indicators, amid the dominance of the upward corrective trend in the short term and its trades along the trend line, so that the price tries in its recent trades to get rid of the negative pressure of the previous 50-day simple moving average.

Therefore, we expect the price of the currency to rise during its upcoming trades, especially in the event of its penetration of the resistance level 29.31, to then target the resistance level 39.85.

The expected trading range is 22.33 (support) - 37.19 (resistance)

The trend is bullish