<b><i>The AVAX coin price grows within a short rising channel and approaches the supply-rich resistance level at $70. Will the rising greed surpass $70?</i></b>

<span style="font-weight: 400;">Avalanche is described as an open, flexible smart contract platform that allows decentralized applications. AVAX can be used to pay for transaction fees and can be staked in order to protect the network. Avalanche works with Solidity, Ethereum's programming language, and can be used to build customized blockchains that are public or private in the form of "subnets."</span>

<span style="font-weight: 400;">Let us move ahead to read about AVAX technical analysis.</span>
<h2><b>Past Performance of AVAX</b></h2>
<span style="font-weight: 400;">The AVAX coin price shows a growth of more than 30% within a rising channel in the past ten days. The channel initiates with the demand found near $50 resulting in a long-tail candle formation in the daily chart. However, the price jump struggles to sustain above the $70 mark.</span>

<img src="https://s3.tradingview.com/snapshots/d/DcWQ108i.png" alt="TradingView Chart" />

<a href="https://www.tradingview.com/x/DcWQ108i/"><span style="font-weight: 400;">AVAX/USD Daily Chart</span></a>
<h2><b>AVAX Technical Analysis</b></h2>
<span style="font-weight: 400;">The AVAX coin price action hints at a possible lower high formation as the price retraces to retest the fallout of $70. Therefore, investors hoping a bull run must wait till the price sustains above $70.</span>

<span style="font-weight: 400;">The crucial </span><b>Exponential Moving averages</b><span style="font-weight: 400;"> maintain a temporary bullish alignment as the coin struggles to rise above the 200-day EMA. Moreover, the bearish crossover of the 50 and 100-day EMA increases the bearish attention.</span>

<span style="font-weight: 400;">The </span><b>MACD indicator</b><span style="font-weight: 400;"> shows an increase in distance between the MACD and signal lines after the bullish crossover. Herefore, the lines indicate a bullish trend with the rising green histograms.</span>

<span style="font-weight: 400;">The </span><b>Stochastic RSI indicator </b><span style="font-weight: 400;">shows the K and D closing in to merge in the oversold zone as the price approaches the $70 resistance. Therefore, the indicator reflects a possible reversal and the fallout of the rising channel in the AVAX coin price. </span>

<span style="font-weight: 400;">That is why the technical indicators reflect a rising underlying bullishness but the sellers dominated resistance zone near $70. </span>
<h2><b>Upcoming Trend</b></h2>
<span style="font-weight: 400;">The <a href="https://www.cryptoknowmics.com/news/avax-technical-analysis-bearish-continuation-soon-to-reach-50/">AVAX</a> technical analysis shows the coin price struggling to surpass the $70 resistance zone as the bulls trend within the rising channel. However, the growing interest of buyers in the crypto market might soon drive the price higher.</span>

<span style="font-weight: 400;">The price action showcases crucial resistance levels at $85 and $100 above the 200-day EMA. Moreover, on the opposite end, the support levels are at $60 and $50.</span>

<span style="font-weight: 400;"> At press time, TradingView gives a "SELL" signal for the AVAX coin.</span>
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<div class="tradingview-widget-copyright"><a href="https://in.tradingview.com/symbols/AVAXUSDT/technicals/" target="_blank" rel="noopener"><span class="blue-text">Technical Analysis for AVAXUSDT</span></a> by TradingView</div>
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AVAX Technical Analysis: Growth Within Short Channel Against Formidable Sellers

The AVAX technical analysis shows the coin price growing within a short rising channel and approaching the supply-rich resistance level at $70.

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: Growth Within Short Channel Against Formidable Sellers

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