Claim BonusCan Avalanche Price Recovery Hit $22 In the Coming Week?
Earlier today, the Avalanche coin price showcased an 8.05% gain and tested $22 local resistance. However, a sudden selling pressure in the crypto market reverted the price with a long rejection candle and plunged the altcoin to its current price of $18.91. Thus, a possible correction could offer a pullback opportunity for interested buyers.
Key points:
- The AVAX chart presents supply pressure at $20.
- A possible correction could retest the breached resistance, such as $17.8 and $16.5
- The intraday trading volume in the AVAX is $502.2 Million, indicating an 80% gain
Source- Tradingview
The Avalanche(AVAX) price witnessed a V-shaped recovery from the $14.5 support amid the recent recovery phase in the crypto market. Thus, altcoin registered a 36% growth within a fortnight and reached a high of $19.8.
The gradual growth in volume activity indicates the trader’s interest in long positions and the high possibility for further development. However, the long-wick rejection attached to the daily candle indicates the supply pressure from above.
Though this rejection suggests the profit booking from short-term traders, the AVAX price may witness a longer correction or consolidation if the selling pressure. Anyhow, the $17.8 to $16.5 support is suitable to trigger a post-correction rally. Thus, with sustained buying, the prices should rise 16.5% to hit the $22 mark.
On a contrary note, a breakdown below $16.5 will offset the bullish thesis and slump the price back to the $x mark.
Technical indicator
EMAs- during the prior downfall, the downsloping EMAs(20, 50, 100, and 200) acted as a significant dynamic resistance to plunge the price lower. However, the prices reclaimed these EMAs with the recent recovery, as they should flip into viable support.
RSI- the daily-RSI slope climbing higher in bullish territory indicates growth in underlying bullishness.
Avalanche price intraday levels
- Spot-$ 18.8
- Trend- Bullish
- Volatility- Medium
- Resistance levels- $38.3 and $53
- Support levels- $30 and $22
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Related Articles
- XRP Takes the Crown As Hottest 2026 Crypto Trade, Edges Out BTC and ETH
- Ripple Strengthens TradFi-Crypto Bridge as its GTreasury Acquires Solvexia
- James Wynn Closes Bitcoin Long with $87K Profit, Opens ETH Position
- XRP News: Ripple Rules Out IPO Plans Despite Recent $500M Capital Raise
- Crypto Regulatory Uncertainty: How Industry Leaders React to CLARITY Act’s Future
- XRP Price Prediction: Strongest Sessions in Weeks Boosts Early 2026 Rally, Will it Break 3$?
- Here’s Why Solana Price Will Hit $200 This Month
- Bitcoin Price Rally Could Hit $107K, Legendary Trader Predicts Ahead of US Jobs Data
- Top 3 Crypto Prices Prediction: Dogecoin, Cardano, and Chainlink Poised for Big Moves
- Ethereum Price Eyes $4K as BitMine Stakes $2.5B in ETH
- Bitcoin and Gold Price Prediction as Venezuela Conflict Fuels Investor Uncertainty
