AVAX Technical Analysis
Looking at the AVAX chart, we can see a pattern forming since the beginning of 2024, just as we see on the Solana chart. This channel formation has been narrowing, and the price is trading at the middle border of it.
The most important area on the daily AVAX chart is the $17.22 - $18.75 support range, and the coin is trading at a very critical level in terms of horizontal support. However, this area has been tested many times before, and the price has rebounded from this support. Each test indicates that this support zone has weakened.
Therefore, if the support area of $17.22 - $18.75 gets broken, the price could go down to the trend support, which is around $13 - $15. If we see upward movements, then the first resistance area the price will test is $23.8, which, if broken, can take the price to both the horizontal and trend resistance level at $33.
These analyses, not offering any kind of investment advice, focus on support and resistance levels considered to offer trading opportunities in the short and medium term according to the market conditions. However, the user is responsible for their own actions and risk management. Moreover, it is highly recommended to use stop loss (SL) during the transactions.
