- AVAX token price trends are lower in the short-term falling channel only to make a flag and pole price pattern.
- AVAX is trading above all the crucial Daily EMAs.
- The AVAX/BTC is trading at 0.001063 BTC, facing an intraday gain of +3.84%.
AVAX token price moves lower inside a falling channel in the short-term making a flag and pole price pattern in the 24-hour technical chart. However, the recent higher price dismissal in the price action proposes a decline in bullish momentum.
The crypto asset is dealing significantly higher than all the crucial EMAs, rising with a positive slope in a bullish alignment. Moreover, the volume (986K) is below the 20-weeks MA (1.06M), projecting a slow rise in selling pressure.
Presently, the AVAX Token price is trading at $47.01, with a +11.08% gain in the market capital within the past 24 hours, implying a rise in underlying bullishness.
The intraday trading volume of AVAX has managed to rise about 112%, representing a boom in AVAX buyers.
AVAX Token Price Moves Lower In A Channel
AVAX Token price trends lower in lower low formations in the falling channel as per the 4-hour chart. The steep-angled support trendline guides bulls to lower in the channel, whereas the descending trendline pushes the bulls back down. Increased buying volumes support the latest price surge, but unfortunately, it fails to rise above the resistance trendline.
Substantial assistance in a bearish move can be found in the rising 20/50/100/200 EMAs on the 4-hour chart. The token price, however, is above 20 EMA, indicating an uptrend trend.
RSI designates a rise of underlying bullishness when its slope climbs higher towards the overbought territory.
As the ADX line keeps climbing above, it is a sign of a growing trend.
Conclusion: The AVAX token price has displayed a remarkable increase after the tremendous demand discovered after the breakout of the rounding bottom pattern. Investors may find dips at 20-period EMA as an entry spot before the buying volume starts to shrink.
Support- $42 and $38
Resistance- $55 and $64