AVAX Goes Over $ 100 If USDC Launches On Network Will Prices Keep Going Up?
- Major support levels: $ 95, $ 78
- Key Resistors: $ 121, $ 147 (ATH)
AVAX hit support at $ 78 before a significant rally began after Circle announced that USDC is now tradable on the AVAX blockchain. This news brought the cryptocurrency above the $ 100 resistance that is now acting as a support. The next major resistance is at $ 121 and the all-time high at $ 147 is still a long way off.
AVAX / USDT daily chart | Source: TradingView
Technical indicators
Trading Volume: Volume has skyrocketed after the recent rally. This favors a bullish continuation and there does not appear to be any weakness in momentum at the time of writing. There is technical resistance at $ 121.
RSI: The daily RSI is moving higher and could make a higher high soon. At 56, AVAX has plenty of headroom before falling into overbought territory.
MACD: The daily MACD created a bullish cross. This shows that the AVAX correction is over and a new rally is underway.
AVAX / USDT daily chart | Source: TradingView
Perspectives
The bias is currently sloping upwards. It is important to keep a close eye on the next major resistance level as the price could go down once it is hit.
Short term forecast
Strong AVAX fundamentals have driven price higher for the past three days and that momentum is likely to continue for the foreseeable future. The indicators and fundamentals are currently favoring the bulls.
Here you can see the AVAX prices.
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Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.
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AVAX Goes Over $ 100 If USDC Launches On Network Will Prices Keep Going Up?
- Major support levels: $ 95, $ 78
- Key Resistors: $ 121, $ 147 (ATH)
AVAX hit support at $ 78 before a significant rally began after Circle announced that USDC is now tradable on the AVAX blockchain. This news brought the cryptocurrency above the $ 100 resistance that is now acting as a support. The next major resistance is at $ 121 and the all-time high at $ 147 is still a long way off.
AVAX / USDT daily chart | Source: TradingView
Technical indicators
Trading Volume: Volume has skyrocketed after the recent rally. This favors a bullish continuation and there does not appear to be any weakness in momentum at the time of writing. There is technical resistance at $ 121.
RSI: The daily RSI is moving higher and could make a higher high soon. At 56, AVAX has plenty of headroom before falling into overbought territory.
MACD: The daily MACD created a bullish cross. This shows that the AVAX correction is over and a new rally is underway.
AVAX / USDT daily chart | Source: TradingView
Perspectives
The bias is currently sloping upwards. It is important to keep a close eye on the next major resistance level as the price could go down once it is hit.
Short term forecast
Strong AVAX fundamentals have driven price higher for the past three days and that momentum is likely to continue for the foreseeable future. The indicators and fundamentals are currently favoring the bulls.
Here you can see the AVAX prices.
Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews
Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.
Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page
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