As a seasoned researcher with years of experience in the ever-evolving world of cryptocurrencies, I find myself intrigued by the current market situation, particularly the potential change in trend for Avalanche (AVAX). Having weathered numerous bull and bear markets, I’ve learned to read between the lines and decipher the subtle signals that the market often presents.
Currently, Avalanche (AVAX) is hovering near $25, following a 10% increase since last Thursday, as the overall crypto market exhibits signs of rebound. Bitcoin and numerous altcoins are moving upward from their lowest points this year, with AVAX at a pivotal price point that could influence its future price movements over the coming weeks.
Experts and financial backers are keeping a close eye on the developments of Avalanche, anticipating major fluctuations. They’re hinting at a possible shift in direction, with certain individuals suggesting a strong and swift surge could occur if AVAX manages to overturn its weekly downtrend pattern.
On the other hand, this volatility might result in potential losses if critical support points are breached. The coming days will play a vital role in deciding if Avalanche (AVAX) can leverage the market’s positive trend or encounter additional upheavals instead.
Avalanche Change Of Trend Will Lead To Higher Prices
The market seems to be shifting, with cautious investors becoming more optimistic due to recent price movements. Since September 6, Avalanche (AVAX) has experienced a significant jump of 25%, reaching a crucial point that may influence its price trend for the upcoming months.
The significant stage under discussion has drawn interest from both analysts and investors, notably Daan, who offered his specialized views on X.
According to Daan’s examination, there’s a clearly-marked bearish trend line that has kept AVAX moving downwards for quite some time. Yet, AVAX is currently trying to break free from this falling trend line, which might suggest the conclusion of its prolonged downtrend and possibly signal an upturn.
Should Avalanche (AVAX) surpass the $25 barrier, Daan anticipates that the value might swiftly advance toward $28. Overcoming this level would signify a substantial change in the short-term to mid-term trend, possibly reversing market sentiment and paving the way for further gains.
A strong escape from its current position might spark a new surge of buying interest, leading analysts to anticipate a bold advance toward $30 or more within the next few weeks. The upcoming days are significant; if it fails to break through resistance, AVAX could slide back into a bearish trend, revisiting lower support zones.
AVAX Price Action: Key Levels To Watch
Currently, Avalanche (AVAX) is being traded at $25.04, a rise following a 4-hour upward trend. This trend is characterized by progressively higher peaks and troughs, suggesting a positive direction. This uptrend occurred after AVAX breached its 4-hour 200 exponential moving average (EMA), which it had previously tested as a support base on Thursday, implying temporary strength. As a result of this movement, traders are feeling increasingly optimistic about the short term.
For Avalanche (AVAX), the main hurdle lies in surpassing the $28 mark. If successful, this would strengthen the upward trend and suggest a shift in structure on larger timeframes, possibly paving the way for further price increases over the next few weeks.
If Avalanche (AVAX) doesn’t manage to stay above its 4-hour 200 Exponential Moving Average (EMA), which is currently at around $23.5, there could be increased price fluctuations or a more substantial decline, as lower demand zones may be approached.
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2024-09-15 09:04