Avalanche aims higher as price continues to gain momentum above $23.50

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Avalanche aims higher as price continues to gain momentum above .50

After recently breaking above the $23.50 level, Avalanche (AVAX) price continues to show resilience, moving higher with good momentum towards the $30.34 resistance level. This upward move signals bullish sentiment among market participants and potential further growth for the crypto asset.

As Avalanche continues to accelerate above $23.50, in this article we delve into a detailed analysis of the recent price rally and its potential for further growth by examining current price action and technical indicators, focusing on the 4-hour and 1-day charts.

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At the time of writing, AVAX is up over 4.85%, trading at around $26.88, with a market cap of over $10 billion and trading volume of over $305 million. Over the past 24 hours, AVAX’s market cap is up 4.44%, while trading volume is down 32.13%.

Analysis of the last moment of the enhance in AVAX share prices

Currently, the price of AVAX on the 4-hour chart has crossed above the 100-day straightforward moving average (SMA) with bullish momentum. The digital asset has been in an upward spiral since breaking the previous low of $26.50. As a result of the price action, Avalanche could continue to extend its rally towards the resistance level of $30.34.

Moreover, the analysis of the 4-hour composite trend oscillator indicates that the price of AVAX may continue to rise as the indicator’s signal line has crossed above its straightforward moving average and both are trying to cross above 50%.

On the 1-day chart, although Avalanche is still trading below the 100-day SMA, one can see that the crypto asset is trying to make a bullish move towards the resistance level of $30.34. After crossing above $26.50, AVAX showed bullish resilience by maintaining momentum above this level. With this latest bullish momentum, the digital asset could potentially extend its rally to other resistance levels.

Avalanche

Finally, on the one-day chart, the composite trend oscillator also indicates that AVAX could potentially extend its bullish move as the signal attempts to cross above the indicator’s moving average and both attempt to break out of the oversold zone.

Will the avalanche continue its upward trend?

Currently, AVAX is trying to move higher towards the $30.34 resistance level. If the cryptocurrency price reaches this level and closes above it, it is likely to continue its attack on the $37.29 resistance level. If the $37.29 level is breached, it may also target the $39.94 resistance level and other higher levels.

Nevertheless, if it reaches the $30.34 level and encounters resistance, the price could start falling again towards the $23.50 support level. Once it breaks through that $23.50 support level below, Avalanche will fall further to test the $18.83 support and other lower levels.

Avalanche

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