- Avalanche price shows bullishness.
- AVAX price faces a massive rejection near $24.
- Avalanche's support stands at $21.
Avalanche (AVAX) price analysis shows the alternative token saw a substantial uptick within the past day, surging 3.90% from the $22.50 low to $23.06. The massive upsurge emerged as the coin broke out from the bullish flag setup formed over the past couple of days. Moreover, the breakout happened in high volumes, indicating massive market participation.
Avalanche has its resistance at $24, which remains a crucial level for investors to watch. Breaking past this value area would open the path to more increases in the near term. Nevertheless, failure to rise beyond $24 can translate to downside price actions towards the support at $21. Generally, AVAX prices exhibit optimistic tendencies, with massive upside potential as far as near-term trends are concerned.
1-Day Timeframe: Prices Surge Following Bearish Divergence
The 24hr chart shows Avalanche changing hands inside the range between 421.47 and $23.69. The latest actions saw the prices surging higher to break out of the range's topside. That opened the possibility of more upticks in the coming sessions. The intraday chart shows AVAX price surged higher following a bearish divergence seen on the Relative Strength Index. For now, prices face massive resistance at $24, above which Avalanche would rally to explore the $25 value region in the near term.
The MACD seems prepared to cross the red signal line, a move that would confirm a bulling crossover. That would authorize the current optimistic bias in Avalanche prices. Nevertheless, market volatility decreases, and the price might witness a downside retracement. Overall, AVAX prices are bullish in the near term, with massive upside possibilities.
The Relative Strength Index was about to cross 50 from beneath, which would mean a bullish crossover. An upside move past the 50-neutral will affirm current AVAX bullishness. The MAs show bullish tendencies, with the 50-dayMA staying beyond the 200-day moving average. Such actions highlight impressive bullish trends for Avalanche.
Final Thought
Avalanche prices showed impressive increases within the past day. The surge came after AVAX broke out from a bullish flag formation formed within the past couple of days. The nearest hurdles stand at $24, above which Avalanche would surge to the $25 mark in the near term.
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