Avalanche (AVAX/USD) Market Retraces Into the Bullish Order Block
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Avalanche Price Prediction – July 30
AVAXUSD market retraces into the bullish order block. The overall bullish trend is likely to resume from the bullish order block in the discount zone.
The price is currently trading near $27.420, slightly below the 9-day Simple Moving Average (SMA), which stands at $29.060, suggesting a short-term consolidation before a potential upward move. The Relative Strength Index (RSI) is at 47.27, below the neutral 50 level but trending upwards, indicating that the momentum might be shifting towards the bulls as it approaches the 52.91 level seen earlier.
AVAX/USD Market Key Levels
Resistance: $33.020, $39.890, $50.000
Support: $24.230, $18.930, $15.000
AVAX/USD – Daily Chart
The daily chart for AVAXUSD market shows that the market is in a retracement phase as price heads into the discount zone for more buy orders.
Analyzing the chart price actions, AVAX/USD has shown a significant decline from the $33.020 level, hitting a low around $21.840 before finding support. This area, between $21.840 and $24.230, acts as a strong demand zone. A Change of Character (ChOCH) was observed, followed by a Break of Structure (BOS) on the upside, signaling a potential reversal. The price has formed higher lows and is testing resistance levels around $29.060 and $30.080, indicating a bullish trend continuation if these levels are breached.
What is the projection for AVAXUSD market?
The projection for AVAX/USD suggests a bullish trajectory towards $39.890 in the coming days. After potentially retesting support around $24.230, the price is expected to break past the immediate resistance at $30.080 and $32.490.
AVAX/BTC Price Analysis
The AVAX/BTC pair is exhibiting bearish tendencies, as indicated by the price trading below the 9-day Simple Moving Average at 0.0004330 BTC. The recent price action shows a rejection at the 0.0004790 BTC resistance level, forming a double top pattern.
The RSI is at 40.92, reflecting weakening momentum and the likelihood of further downside. The price is expected to retest support around 0.0003980 BTC, and a break below this level could lead to further crashes to the major support at 0.0003000 BTC.
Avalanche (AVAX) Current Statistics
The current price: $27.420
Market Capitalization: $10,710,000,000
Trading Volume: $318,480,000
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