Avalanche (AVAX) Price Rallies: Can It Break $30?
AVX is rising over $28.65 resistance. A clean move over $30.00 resistance might boost Avalanche.
AVAX is rising from $27.40 versus the US dollar.
The price is above $28.65 and the 100-hour SMA.
AVAX/USD broke over a significant descending channel with resistance around $28.40 on the hourly chart.
Staying over $28.65 and $28.50 support might keep the pair upward.
AVAX Price Rises
After falling, Avalanche's AVAX found support around $25.00. The price rose like Bitcoin and Ethereum after forming a support base at $25.00.
Near $28.50, the price rose over 8% and smashed multiple barriers. AVAX/USD broke over a significant descending channel with resistance around $28.40 on the hourly chart. The pair crossed $29.40 resistance to turn positive.
AVAX is over $28.50 and the 100-hourly SMA. The upward rise from the $27.37 swing low to the $29.95 high is displaying good indicators above the 23.6% Fib retracement line.
Resistance at $30.00 is imminent on the upside. Near $30.50 is the next significant resistance. If the price breaks $30.50, it might rise faster. In this situation, the price may climb slowly to $32.50 or $34.00.
Avalanche Supports Dips?
AVAX price may correct if it fails to get beyond $30.00 or $30.50. Near $29.35 is immediate downside support.
The $28.65 zone and 50% Fib retracement level of the upward run from the $27.37 swing low to the $29.95 high are major support. A break below $28.65 might lead to a slide to $28.00 and the 100 SMA (4 hours). Near $27.40 is the next important support.
Tech Indicators
The AVAX/USD MACD is rising in the positive zone.
Hourly RSI - AVAX/USD's RSI is over 50.
Major Support Levels: $29.35, $28.65.
Major Resistance Levels: $30.00, $30.50.