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Avalanche Price Analysis: AVAX Cools Off Following a New ATH at $147

Avalanche Price Analysis: AVAX Cools Off Following a New ATH at $147

Avalanche Price Analysis: AVAX Cools Off Following a New ATH at $147

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  • Avalanche Price Analysis: AVAX Cools Off Following a New ATH at $147

    BTC$57,281.00

  • Avalanche Price Analysis: AVAX Cools Off Following a New ATH at $147

    ETH$4,290.58


  • Home » Price Analysis » Avalanche Price Analysis: AVAX Cools Off Following a New ATH at $147

    Avalanche Price Analysis: AVAX Cools Off Following a New ATH at $147

    Avalanche Price Analysis: AVAX Cools Off Following a New ATH at $147

    Author:

    Duo Nine



    Last Updated Nov 23, 2021 @ 15:43

    After avalanche (AVAX) broke the resistance at $100 it rallied hard and has made a new all-time high at $147. Now, thought, things are calming down a bit.

    Key Support levels: $124, $110

    Key Resistance levels: $147, $160

    AVAX has finally met some resistance after a significant rally which took it to $147. The price is currently correcting. As such, the cryptocurrency can find good support on the $124 and $110 levels depending on how deep the correction is, while the levels found at $147 and $160 will act as resistance.

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    Avalanche Price Analysis: AVAX Cools Off Following a New ATH at $147

    Chart by TradingView

    Technical Indicators

    Trading Volume: Very strong and sustained volume during the rally. However, because of the current pullback, it’s important to wait for a support level to hold before.

    RSI: The RSI on the daily timeframe is curving down after nearly touching the 80 points level. If the correction continues, the RSI is likely to fall back under 70 points.

    MACD: The MACD on the daily timeframe is also curving back down and the histogram has made a lower high. This indicates a temporary reversal until bulls return. On the 4-hours timeframe, the MACD completed a bearish cross.

    Avalanche Price Analysis: AVAX Cools Off Following a New ATH at $147

    Chart by TradingView

    Bias

    The macro trend remains quite bullish despite this correction. It’s important to remain vigilant following a massive rally of this kind.

    Short-Term Price Prediction for AVAX

    AVAX has to find support during this correction and stop the fall in price before higher prices can be achieved. As such, the support levels just above $100 can provide a good base for the next rally, if bulls return in force.

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    Tags: Avalanche (AVAX) Price

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