AVAX Continues Its Range, But Hovers Above $35

Jan 25, 2025 at 08:53 // Price
Author
Coin Idol
Selling pressure has eased and AVAX continues to move sideways

The price of Avalanche (AVAX) has been moving consistently between $32 and $45 since December 20, 2024. The price movement is consistent as the fluctuation ranges remain intact.

Avalanche price long term analysis: fluctuation range

Traders buy on dips and sell on rallies. On January 19, AVAX fell below the 21-day SMA and hit a low of $35. The bears are trying to break the current support level of $35. If the selling pressure continues, the altcoin will fall to $32.

However, if the current support holds, the bulls will buy on dips. Since December 20, 2024, the current support has held as the altcoin maintains its range. AVAX is worth $35.01 at the time of writing.

Analysis of the Avalanche  indicator

On January 19, the price bars fell below the moving average lines. The downward momentum is about to break through the existing support at $35. The moving average lines remain horizontal, with a bullish crossover. Selling pressure has eased and the altcoin continues to move sideways.

AVAXUSD_(Daily Chart) - JAN.23.25.jpg

Technical indicators:

Key resistance levels – $60 and $70

Key support levels – $30 and $20

What is the next direction for Avalanche?

AVAX has been in a downtrend on the 4-hour chart since January 19, trying to break through the $35 support level. The moving average lines have put the brakes on the uptrend. There are still extended candlestick tails moving towards the $35 support, suggesting significant buying pressure at the recent low.

AVAXUSD_(4-hour Chart) -JAN.23.25.jpg

Disclaimer. This analysis and forecast are the personal opinions of the author. They are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds.

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