<strong><em>AVAX buyers drive the bull cycle above the resistance trendline of a falling channel teasing a price jump to the $20 mark. </em></strong>

<strong>Key technical points:</strong>
<ul>
 	<li>The AVAX market price has appreciated 9.37% over the past 24 hours.</li>
 	<li>The price action shows a bullish candle breaching the resistance trendline.</li>
 	<li>The 24-hour trading volume of Avalanche is $612 Million, indicating a hike of 45%.</li>
</ul>
<h2>Past Performance of AVAX</h2>
During the bloodbath in May, the <a href="https://coincodex.com/crypto/avalanche/">AVAX price</a> lowered within a falling channel pattern, accounting for a drop of 56% to a low of $15. However, buyers quickly capitalized on the falling trend in trading volume displaying weakness in selling pressure resulting in a reversal. The bullish turnaround breaches the resistance trendline and brings about a bullish breakout of the falling channel.

<img src="https://s3.tradingview.com/snapshots/a/AbBuVhhD.png" alt="TradingView Chart" />

<strong>Source- </strong><a href="https://www.tradingview.com/x/AbBuVhhD/" target="_blank" rel="noopener">Tradingview</a>
<h2><span style="font-weight: normal">AVAX Technical Analysis </span></h2>
<a href="https://www.cryptoknowmics.com/news/avax-technical-analysis-will-avax-prices-rebound-above-20/">AVAX </a>price action shows a rising trend as the reversal inflates the market value by 10% in the last 24 hours. However, traders hoping to enter the breakout spot must wait for the price to sustain above $20 to avoid a reversal. The bullish reversal trades under all the crucial EMAs– 50, 100, and 200-day while they remain a falling trend in a bearish alignment. However, the breakout rally can reach the 50-day EMA(red) if the rally sustains above the $20 mark.

The RSI indicator shows a bullish reversal from the oversold boundary, gradually reaching the halfway line. The 14-day SMA shows a sideways trend above the 30% boundary but the bullish influence grows gradually. The MACD indicator shows the fast and slow lines reclaiming a positive trend to the zero line by avoiding a bearish crossover. Moreover, the bullish trend in the histograms resurfaces displaying a rise in buying pressure. In a nutshell, the AVAX price action forecasts a breakout rally surpassing the $20 mark.
<h2><span style="font-weight: normal">Upcoming Trend</span></h2>
Considering the breakout rally sustains above the broken trendline, AVAX prices will skyrocket to $30 if the buying pressure grows.

<strong>Resistance Levels:</strong> $20 and $25

<strong>Support Levels:</strong> $15  and $13

AVAX Technical Analysis: Channel Breakout Prepares Bullish Launch

AVAX Technical Analysis shows buyers driving the bull cycle above the resistance trendline of a falling channel teasing a price jump to the $20 mark. 

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

AVAX Technical Analysis: Channel Breakout Prepares Bullish Launch

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