$AVAX

AVAX Price Analysis: Can Bulls Continue Their Attack?

AVAX's recent trend is interesting! At present, bulls have pushed the price above the 20-day moving average ($39.81), showing strong buying intention. The next is the key moment for bulls to continue to exert their strength!

Bullish target: Targeting the 50-day moving average

If the bulls can successfully hold the 20-day moving average, AVAX has the opportunity to continue to rise and challenge higher targets:

Short-term target: 50-day moving average ($42.65)

This position is expected to become a major resistance area, and it is necessary to pay attention to whether the bulls can break through it.

Once it breaks through, AVAX may open up further upside and attract more capital inflows.

Short opportunity: Wait for a pullback

If the bulls fail to hold the 20-day moving average, the bears may wait for an opportunity to pull the price back to a low level and enter a downward trend.

The support below may be around $38, and it is necessary to pay attention to the buying strength in this area.

Long strategy:

If the price is stable above the 20-day moving average, you can try long orders with a light position, with the target at $42.65 and the stop loss set below $39.

Short strategy:

If the price cannot break through the 50-day moving average and there is a significant correction, you can consider following up with short orders after confirming the decline, with the target down to the $38 support area.

Now AVAX bulls are still struggling to fight for control, and the 20-day moving average is the key in the short term. If it can be stabilized, it is highly likely to hit the 50-day moving average; otherwise, the bears may make a comeback, keep an eye on the support and resistance, and adjust the strategy flexibly!