Avalanche Price Analysis – June 23
As the daily chart reveals, AVAX/USD is likely to rise above the resistance level at $20 and may break towards the channel.
Resistance levels: $40, $42, $44
Support levels: $6, $4, $2
AVAX/USD price is crossing above the 9-day moving average and it is recording a slightly a gain of over 11% in the last 24 hours. However, it may move towards the upper boundary of the channel in the nearest term if it crosses above the 9-day and 21-day moving averages.
Avalanche Price Analysis: Avalanche (AVAX) May Head to the Upside
If the Avalanche price stays under the control of bears, it could drop and head towards the lower boundary of the channel to test the critical supports at $6, $4, and $2. On the upside, the bulls may need to keep the market price above the channel, by doing so, the coin may hit the potential resistance at $40, $42, and $44 levels as the technical indicator Relative Strength Index (14) moves to cross above the 40-level, suggesting more bullish signals.
AVAX/BTC Market: Price Faces the North
Against Bitcoin, the coin is seen to be trading above the 9-day 21-day moving averages. However, should the price cross above the channel, the market could experience a slight increase that may touch the nearest resistance level of 1300 SAT and above.
On the other hand, if the bears could bring the market below the moving averages then, AVAX price may reach the support level of 420 SAT and below. Meanwhile, the Relative Strength Index (14) indicator confirms that the market is been controlled by the bulls as the signal line crosses above 40-level, indicating more positive movements.