Avalanche ($AVAX ) Price Analysis

Avalanche (AVAX) has experienced considerable volatility over the past week as it attempted to break above the 20-day SMA, which is a dynamic resistance level.

AVAX was able to stay above $25, trading in a narrow range during the previous week. AVAX rose just over 3% on Friday, rising to $25.99.

However, it returned to losses on Saturday, falling slightly before rising 1.87% on Sunday, ending the weekend above $26.

The bulls pushed AVAX above the 20-day SMA at the start of the week, with the price breaking above that level and rising 5.61% to $27.84.

However, as the price approached $30, the bulls lost momentum and AVAX is once again in the red during the current trading session.

AVAX is currently down 3.36% and trading at $26.89. Looking at the price chart, we can see that AVAX is experiencing considerable volatility, as indicated by the Bollinger Bands. If sellers push AVAX lower, it could break below its 20-day moving average and drop to $25.

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