Avalanche (AVAX/USD) Market Shows Signs of a Sustained Bullish Breakout
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Avalanche Price Prediction – October 22
AVAXUSD market shows signs of a sustained bullish breakout. The market is currently in a bullish trend. A major retracement to the downside is not likely until the invalidation of the $30.860 swing high.
The Relative Strength Index (RSI) is currently at 58.73, indicating mild bullish momentum without reaching the overbought zone (above 70). This suggests room for upward movement without immediate risk of reversal. Additionally, the 9-day Simple Moving Average (SMA) is sloping upwards, and the price is consistently staying above it, further reinforcing the bullish sentiment. The steady RSI and SMA alignment signal ongoing strength in the AVAXUSD market.
AVAX/USD Market Key Levels
Resistance: $30.860, $33.020, $37.190
Support: $21.840, $15.570, $11.860
AVAX/USD – Daily Chart
The daily chart for AVAXUSD shows that the price still remains strongly bullish as it aims to break major resistance at $33.020.
The market broke a significant structure (BOS) at the $30.860 level, confirming a bullish breakout. Before that, the price formed a higher low after testing the support level at $23.170. The market previously respected the order block (OB) region around $24.000, creating a base for the current upward trend.
What is the projection for AVAXUSD market?
If the price breaks through the $30.860 resistance convincingly, the next target is likely to be the psychological resistance level at $33.020, and beyond that, $37.190. A failure to break the resistance could result in a short-term pullback towards the $28.000 support. However, given the current bullish momentum and favorable indicators, AVAXUSD could continue its upward trajectory toward $33.020 in the near term.
AVAX/BTC Price Analysis
The AVAXBTC chart shows a bullish breakout after a recent break of structure (BOS) near 0.0004670. Price is currently supported by a rising trendline and trading above the 9-period SMA, which is at 0.0004390.
With RSI at 63.17, there’s strong buying momentum, though a short-term retracement could occur before continuation. If the retracement holds above the 0.0004390 support, the price could aim for the next resistance at 0.0004790 and 0.0005810.
Avalanche (AVAX) Current Statistics
The current price: $28.90
Market Capitalization: $11,250,000,000
Trading Volume: $295,580,000
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