Avalanche (AVAX/USD) Market Approaches Bullish Reversal As Momentum Builds Near Support
Estimated Reading Time: 2 minutes
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more
Avalanche Price Prediction – January 7
AVAXUSD market approaches bullish reversal as momentum builds near support. The bullish move began following the market structure shift at $42.050.
The technical indicators suggest that AVAXUSD is gearing up for a bullish reversal. The stochastic oscillator is at 53.36 (%K) and 80.91 (%D), indicating the market has bounced from oversold territory and is gaining upward momentum. The price is currently hovering near the 9-day Simple Moving Average (SMA) at $40.050, which acts as dynamic support, further reinforcing the likelihood of an upward move.
AVAX/USD Market Key Levels
Resistance: $55.860, $65.380, $81.870
Support: $33.020, $17.280, $8.620
AVAX/USD – Daily Chart
The daily chart for AVAXUSD indicates that the market has flipped bullish.
The price action reveals that AVAXUSD has recently retested and strongly supported $33.020, forming a demand zone. The market structure has shifted (MSS) with higher lows forming, suggesting a bullish breakout. The immediate resistance lies at $42.050, and further upside could push the price toward $55.860, where a descending trendline awaits a retest.
What is the projection for the AVAXUSD market?
The projection indicates a bullish continuation if the price clears $42.050 convincingly. AVAXUSD could climb toward $52.110 as an interim target before challenging $55.860.
Should buying pressure sustain, a breakout above $55.860 could lead to a mid-term target at $65.380, providing ample opportunities for traders as momentum builds.
AVAX/BTC Price Analysis
The AVAX/BTC pair is forming a bullish structure, supported by a higher low near 0.0004130. The chart indicates a potential breakout above 0.0004790, aligning with the higher highs trend.
Momentum is supported by the Stochastic oscillator bouncing off oversold levels. A move past 0.0004788 may confirm further upside toward 0.0005810 and 0.0007130.
Avalanche (AVAX) Current Statistics
The current price: $36.070
Market Capitalisation: $15,950,000,000
Trading Volume: $834,430,000
Place winning AVAX/USD trades with us. Get AVAX here
