Buyers took the opportunity to buy when the price dropped near the resistance level on November 26, but struggled to push the price of Avalanche (AVAX) above $45.
AVAX/USDT daily chart | Source: TradingView
However, the 20-day EMA ($36.64) is trending up along with the RSI in the overbought zone, suggesting that the easiest path is still upwards. If buyers maintain the price above $45, the ADA/USDT pair could rise to $50 and then $60.
The 20-day EMA is an important support level to watch. If the price decreases and breaks below the 20-day EMA, this will signal that the market has rejected the breakout. At that point, the pair could drop to the 50-day SMA ($30.38).
