<b><i>The AVAX coin price fails to sustain above the 200-day EMA and faces higher price rejection, possibly driving the downfall to $50.</i></b>

<span style="font-weight: 400">AVAX is the primary token of Avalanche. The token is a hard-capped precious asset used to pay fees, safeguard the platform with staking and serve as a base account for the various subnets that are created on Avalanche.</span>

<span style="font-weight: 400">Avalanche is the most efficient smart contract platform in the blockchain market according to the time-to-finality. Avalanche is extremely quick, cost-effective, and environmentally friendly. Any application that is smart contract-enabled will be able to outperform competitors by making use of Avalanche.</span>

<span style="font-weight: 400">Let us move ahead to read about the Avalanche technical analysis.</span>
<h2><b>Past Performance of AVAX</b></h2>
<span style="font-weight: 400">The AVAX coin price shows a decline of 15% in the 48 hours as it faces <a href="https://www.cryptoknowmics.com/news/avax-technical-analysis-reversal-aims-triangle-breakout-is-it-too-early-to-buy/">rejection</a> near the $73 mark, slightly above the 200-day EMA. The downfall results in a long-wick candle-driven morning star pattern in the daily chart. Hence, the reversal pattern with higher price rejection indicates a solid pushback from the bearish powers. </span>

<img src="https://s3.tradingview.com/snapshots/w/WFtvUZBV.png" alt="TradingView Chart" />

<a href="https://www.tradingview.com/x/WFtvUZBV/"><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 approaches the $60 mark with increasing selling pressure evident by the rising intraday trading volume. Therefore, the ongoing bearish trend can reach the next support level at $53.</span>

<span style="font-weight: 400">The crucial </span><b>Exponential Moving Averages</b><span style="font-weight: 400"> maintain a bullish alignment, but the falling slope of the 50 and 100-day EMA can shortly provide a bearish crossover. The price breaks below the 200-day EMA and retest it to continue the downfall.</span>

<span style="font-weight: 400">The </span><b>MACD Indicator</b><span style="font-weight: 400"> shows the falling MACD and signal lines continuing a downtrend below the zero line. However, the decreasing intensity of the falling histogram increases the chances of a bullish crossover.</span>

<span style="font-weight: 400">The </span><b>Momentum Indicator </b><span style="font-weight: 400">shows a sideways momentum below -20%, indicating a saturation in the downtrend. However, the significant fall reflects a solid underlying bearishness.</span>

<span style="font-weight: 400">Hence, the technical indicators showcase a solid downtrend in action, but the chances of a bullish reversal are increasing gradually. Therefore, the AVAX coin can shortly find support near $50.</span>
<h2><b>Upcoming Trend</b></h2>
<span style="font-weight: 400">The AVAX coin price is close to the horizontal level at $60, the morning star pattern drives it lower. However, the downfall might prevent lower price rejection near $50. </span>

<span style="font-weight: 400">Therefore, sellers can find an entry opportunity at current prices with a target of $50 or even $40 in case of a fallout. Bullish traders need to wait till the price sustains above the 200-day EMA.</span>

At press time, the technical analysis by TradingView gives a "SELL" signal for the AVAX coin.
<div class="tradingview-widget-container">
<div class="tradingview-widget-copyright"><a href="https://in.tradingview.com/symbols/AVAXUSD/technicals/" target="_blank" rel="noopener"><span class="blue-text">Technical Analysis for AVAXUSD</span></a></div>
</div>

AVAX Technical Analysis: Higher Price Rejection Brings Sellers Back

The AVAX coin price fails to sustain above the 200-day EMA and faces higher price rejection, possibly driving the downfall to $50.

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: Higher Price Rejection Brings Sellers Back

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