The AVAX price has been gaining momentum and is currently moving higher from the $30.50 support zone against the US dollar. With key resistance levels being broken and a bullish trend forming, the price of AVAX could potentially surge even further in the near future.
After finding support near the $30.50 zone, AVAX started a fresh increase, similar to Bitcoin and Ethereum. The price gained over 10% and broke many hurdles near $35.00, leading to a significant upward trajectory in its movement. There was a break above a key bearish trend line with resistance at $34.00, indicating a strong bullish sentiment in the market.
Currently, AVAX price is trading above $36.50 and the 100 simple moving average (4 hours), suggesting a positive outlook for further price appreciation. The immediate resistance is near the $37.65 zone, followed by the $39.80 level. If there is an upside break above $39.80, the price could potentially surge over 10%, reaching levels around $42.50 or even $44.00.
On the downside, immediate support is seen near the $36.30 level, with the main support at $35.20 and the 100 simple moving average (4 hours). A break below $35.20 could lead to a major decline towards $32.80, ultimately testing the support at the $30.50 level.
The MACD for AVAX/USD is gaining momentum in the bullish zone, indicating a strong buying pressure in the market. The RSI for AVAX/USD is above the 50 level, further confirming the bullish sentiment among traders.
The AVAX price is on an upward trajectory, with key resistance levels being broken and strong technical indicators supporting a bullish outlook. While there may be some short-term corrections, the overall trend suggests a potential surge in price towards the $42.50 level or higher. Traders are advised to conduct their own research and analysis before making any investment decisions, as investing always carries risks.
