Avalanche (AVAX/USD) Market Retests Bullish Order Block As Order Flow Remains Bullish
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Avalanche Price Prediction – July 23
AVAX/USD market retests bullish order block as order flow remains bullish. The bullish order block formed around the $30.000 support level.
The Moving Averages (MAs) of 9 and 21 days are in a convergence phase, with the 9-day MA beginning to cross above the 21-day MA. This crossover suggests a potential shift in momentum towards an upward trend. The Stochastic Oscillator also reinforces this bullish sentiment, as it shows an upward trajectory with the %K line above the %D line, indicating that buying pressure is increasing.
AVAX/USD Market Key Levels
Resistance: $39.890, $50.000, $65.380
Support: $30.000, $27.210, $18.930
AVAX/USD – Daily Chart
The daily chart for AVAXUSD market shows that the market is about to retest the bullish order block in the discount zone.
AVAX/USD is on a recovery path from its recent lows as it declines into the bullish order block. A Break of Structure (BOS) can be observed at the $29.000 level, followed by a higher low, which typically signals the beginning of an upward phase.
AVAXUSD also reclaimed the significant $30.000 support level, which now serves as a foundation for the continuation of the uptrend. The formation of the Order Block (OB) at $30.000 suggests strong institutional buying interest in the bulls’ favor.
What is the projection for AVAXUSD market?
Looking ahead, the projection for AVAX/USD is optimistic. The price is expected to continue its upward trajectory, with the next major resistance level identified at $39.890.
This level aligns with the previous highs and serves as a critical target for the bulls. The overall market order flow, combined with the supportive technical indicators and bullish price action, suggests that AVAX/USD is poised for further rallying.
AVAX/BTC Price Analysis
The AVAX/BTC chart indicates a bullish trend with the price forming a symmetrical triangle pattern, suggesting potential for a breakout. The 9-day Moving Average is positioned above the 21-day Moving Average, highlighting upward momentum. The Stochastic Oscillator shows bullish sentiment, with the %K line at 77.77 crossing above the %D line at 58.27.
Avalanche (AVAX) Current Statistics
The current price: $30.400
Market Capitalization: $11,800,000,000
Trading Volume:$503,560,000
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