Can Avalanche (AVAX), which is in the accumulation phase, explode?
The 10 percent increase in Bitcoin in a short time did not affect AVAX much in terms of price. Currently trading at $14.58, AVAX has not been able to come out of the price range it is in. Can AVAX, which performs less than other major coins, show drastic moves when the accumulating process is over? How is technical analysis progressing for AVAX?
Avalanche (AVAX) Chart Analysis
AVAX, which is traded in the band of 14.58 – 13.92 dollars, has not yet clearly exited this channel. AVAX, one of the altcoins that gained value under the leadership of Ethereum, bounced off a critical value. The major coin, which received a reaction from the lower value of the channel, managed to rise to $ 14.60. AVAX, which remains in the background compared to other altcoins, seems to be in the accumulating phase.
AVAX, which is priced just above the channel that we can describe as support, can show more voluminous increases if it breaks the resistances of 15.35 – 16.35 – 18.22 – 19.33 and 22 dollars, respectively. Factors such as the increase in sell-side transactions in the market, fud news or the Avalanche ecosystem being in the background may reduce AVAX to 13.92 and 12.04 dollars.
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