AVAX price is gaining pace above the $26.50 resistance. Avalanche could rise further if there is a clear move above the $27.75 resistance zone. AVAX price is moving higher from the $24.70 support zone against the US dollar. The price is trading above $26.50 and the 100-hourly simple moving average. There was a break above a key bearish trend line with resistance at $26.50 on the hourly chart of the AVAX/USD pair (data source from Kraken). The pair could continue to rise if it stays above the $26.00 and $25.50 support levels. AVAX Price Aims Higher After a steady decline, Avalanche’s AVAX found support near the $22.00 zone. A support base was formed above $22.00, and the price started a fresh increase, like Bitcoin and Ethereum. The price gained over 7% and broke many hurdles near $25.00. There was a break above a key bearish trend line with resistance at $26.50 on the hourly chart of the AVAX/USD pair. It cleared the 76.4% Fib retracement level of the downward move from the $27.17 swing high to the $24.72 low. The pair even cleared the $27.00 resistance to move into a positive zone. AVAX price is now trading above $26.50 and the 100-hourly simple moving average. On the upside, an immediate resistance is near $27.75. The next major resistance is forming near the $28.70 zone or the 1.618 Fib extension level of the downward move from the $27.17 swing high to the $24.72 low. If there is an upside break above the $28.70 level, the price could accelerate higher. In the stated case, the price could rise steadily toward the $30.00 level or even $32.00. Dips Supported in Avalanche? If AVAX price fails to continue higher above the $27.75 or $28.70 levels, it could start a downside correction. Immediate support on the downside is near the $26.50 level. The main support is near the $26.00 zone and the 100 simple moving average (4 hours). A downside break below the $26.00 level could open the doors for a drop toward $24.70. The next major support is near the $22.50 level. Technical Indicators Hourly MACD – The MACD for AVAX/USD is gaining momentum in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for AVAX/USD is now above the 50 level. Major Support Levels – $26.50 and $26.00. Major Resistance Levels – $27.75 and $27.70.
NewsBTC
You can visit the page to read the article.
Source: NewsBTC
Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of BitMaden. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.
Pepe Election (PEPEELEC) Solana Memecoin Will Explode Over 19,000% Before Exchange Listings, While Shiba Inu and Dogecoin Lag
Pepe Election could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did. Pepe Election (PEPEELEC), a new Solana memecoin that was launched today, is set to explode over 19,000% in price in the coming days. This is because PEPEELEC is set to soon be listed on numerous crypto exchanges, according to reports. This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up. Currently, Pepe Election can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to NewsBTC
VanEck Adds Staking Rewards to Solana ETN in Europe
VanEck introduces staking rewards for its Solana ETN in Europe, allowing investors to earn passive income with 75% of rewards reinvested into the fund. NewsBTC