Avalanche (AVAX), which reached the January 2021 price a few days ago, started volatile movements by breaking the falling trend on the daily chart.
AVAX, the once most popular coin that has been gaining value for months, finally managed to break the falling trend on the daily chart. The falling trend structure from July 15 was challenging AVAX in the technical structure. If we add to this that the ecosystem has been silent for a long time, the selling pressure on the popular coin became inevitable. So, what prices can AVAX, which has turned its technical outlook on the daily chart positive, test?
According to technical analysis, a 20 percent rise seems possible!
AVAX, which has been pricing downwards since $ 15.96, tried the falling trend from time to time, but this was unsuccessful. However, when we look at the current situation, this technical structure is broken. AVAX, which is rising, although not in a large way, can target $ 10.82 if it exceeds $ 9.35. This move corresponds to an increase of 20.42 percent. Then, the levels that can be targeted are $ 12.24 – $ 13.83 and $ 15.96, respectively.
Although the graph looked positive, the increase that came with the break of the falling trend remained weak. AVAX, which once wreaked havoc, sees intense selling pressure and the ecosystem does not make any moves, which may push the price down even further. Looking at the weekly chart, the support point appears to be $7.49 because there is a lot of gap.
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