AVAX Price Analysis – March 17
The Avalanche (AVAX) begins to move to the upside as the bears may lose grip over the coin soon.
Resistance levels: $100, $105, $110
Support levels: $60, $55, $50
Avalanche (AVAX) is seen crossing above the 9-day and the 21-day moving averages as the coin moves to touch the daily high of $81.76. However, for the past few days, the coin has been trying to cross above the moving averages to resume the upward movement.
Avalanche Price Analysis: Avalanche (AVAX) May Head to the Upside
The Avalanche price is likely to cross above the upper boundary of the channel if the bulls put more effort. Therefore, if the bulls defend the $80 level, the coin may continue its upward movement by trading above the channel. However, any further bullish movement may hit the potential resistance levels of $100, $105, and $110.
Nevertheless, this technical analysis may not be right if the bears return into the market and drop towards the lower boundary of the channel, for it touches the support levels of $60, $55, and $50. Moreover, the technical indicator Relative Strength Index (14) is rising to cross above 60-level; suggesting that more bullish movements are likely to play out.
AVAX/BTC Market: Consolidating to the Upside
Against Bitcoin, the Avalanche price is trying to move up higher as it crosses above the 9-day and 21-day moving averages with a major resistance level at 1954 SAT. The long-term moving averages may likely keep the bullish movement as the market is starting a new trend by moving towards the upper boundary channel.
From above, if the buyers could push the price above the upper boundary of the channel, higher resistance could be located at 2200 SAT and above. Moreover, should the bulls fail to move it above the levels then, the coin may retreat and face the lower boundary of the channel to hit the support level of 1600 SAT and below while the technical indicator Relative Strength Index (14) moves to cross above 50-level, which shows that buyers are coming to play.