Скачать или смотреть AVAX Technical Analysis: Is This High Volume Reversal Safe To Buy? | Cryptoknowmics

Hello and welcome back guys to our channel Cryptoknowmics!

Hi, I am Megha Chhikara, back with yet another analysis for you today!
Today, we’ll be reading about the Token AVAX. AVAX prices have risen to $20 within the past 48 hours. But will this rally sustain, or is it just another lower high formation?

The bullish reversal in the AVAX prices with lower price rejection near $17.50 reaches the $20 mark. Furthermore, the increase in trading volume to support the bullish candle leading to a Morning Star pattern increases the possibility of an uptrend continuation. But will the bullish reversal break the resistance trendline, or is it just another low or high formation?

Well, to know this answer watch this entire video till the end to learn more about the upcoming trend in AVAX, but before that don’t forget to hit the subscribe button!

So, let’s read the key points of this analysis and see where it takes us!
With a market cap of $5.83 Billion, the intraday trading volume of Avalanche has increased by 38% to reach $606 Million. The AVAX prices have risen by 10% within the last 48 hours.

Well the graph on my screen has a lot to say about AVAX today too so, let’s see what it is!

https://www.tradingview.com/x/8m0lLC0E/

The AVAX prices fell drastically after reaching the $30 mark due to the increased supply pressure near the 100 day SMA. The falling prices lead to the generation of a resistance trendline in the daily chart, which keeps the bullish growth in check.

The RSI slope displays an overall downtrend but the recent reversal from the oversold boundary challenges the 14-day SMA. Hence the indicator displays an increase in underlying bullishness.

The MACD indicator displays a declining trend in the fast and slow lines, but the losing bearish gap increases the possibility of a bullish crossover.
Hence, the technical indicators support the possibility of a trendline breakout if the buying pressure continues to grow.

And finally, with hope & some positive indications, we conclude our today's session and we’ll be back with yet another coin for you!

Till then stay tuned to Cryptoknowmics, Crypto world at your fingertips.