Avalanche (AVAX/USD) Market Finds Bullish Momentum After Reclaiming Key Fibonacci Level
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Avalanche Price Prediction – August 5
Avalanche (AVAXUSD) market finds bullish momentum after reclaiming key Fibonacci level. The AVAXUSD pair is demonstrating early signs of a bullish continuation after a corrective dip found support near the $20.000 psychological level.
The price has reclaimed the 0.618 Fibonacci retracement zone at $20.940 and is currently trading slightly above the 9-day SMA ($22.340), signaling regained upward pressure. Additionally, the stochastic oscillator has crossed upward from the oversold region (currently around 23.170), providing a confluence of bullish indicators that align with renewed buyer interest at lower levels.
AVAX/USD Market Key Levels
Resistance: $22.770, $26.550, $33.020
Support: $20.000, $17.280, $12.500
AVAX/USD – Daily Chart
The daily chart for AVAXUSD shows the resumption of the overall bullish trend.
From a structural standpoint, price action has respected a key demand zone, marked by a bullish reaction at the $20.000 handle and a higher low formation. The earlier change of character (ChoCH) around $19.200 indicated a shift from bearish to bullish structure, and the rejection of the bearish order block around $22.100 did not lead to a deeper sell-off.
This resilience reinforces the narrative of strength returning to the asset. Furthermore, the current candle formation suggests strong buyer follow-through from the recent swing low.
What is the projection for AVAXUSD market?
Going forward, AVAXUSD is likely to test the short-term resistance at $22.770, and upon a successful breakout, may advance toward the $26.550 supply zone. A sustained move above this level would expose the $27.400 local high, which could act as a medium-term price magnet.
However, if price fails to hold above $20.940 or re-enters the $20.000 zone, bullish bias may weaken. Overall, the market structure favors further upside, provided support zones continue to hold firm.
AVAX/BTC Price Analysis
AVAXBTC is trading below the 9-period SMA, indicating sustained bearish momentum. Price recently rejected the 0.0002010 resistance level, reinforcing downside pressure.
The MACD has crossed into negative territory, supporting a potential further drop. A move toward the 0.0001590 support zone appears likely if selling persists.
Avalanche (AVAX) Current Statistics
The current price: $22.150
Market Capitalisation: $9,620,000,000
Trading Volume: $437,120,000
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