Avalanche price analysis ✈️‼️

The bulls are struggling to push Avalanche $AVAX above the resistance line of the descending channel, but a positive sign is that they have not allowed the price to dip below the 50-day SMA $22.82

The bulls will again try to drive the price above the channel’s resistance line. If they succeed, the AVAX pair could rally to the breakdown level of $29 and thereafter to $33

Contrarily, if the price continues lower and breaks below the 50-day SMA, it will signal that the bulls have given up. That may drag the price down to the solid support at $19.50. The bulls are expected to vigorously defend this level.

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