{"id":34113,"date":"2023-12-13T05:52:43","date_gmt":"2023-12-13T09:52:43","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=34113"},"modified":"2023-12-13T05:52:43","modified_gmt":"2023-12-13T09:52:43","slug":"avax-price-pumps-50-and-dumps-15-why-uptrend-is-still-strong","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/12\/13\/avax-price-pumps-50-and-dumps-15-why-uptrend-is-still-strong\/","title":{"rendered":"AVAX Price Pumps 50% and Dumps 15%, Why Uptrend Is Still Strong"},"content":{"rendered":"

AVAX price rallied over 50% and traded above the $40 level. Avalanche is now correcting gains, but the bulls might remain active near the $32 support zone.<\/em><\/p>\n

AVAX price gained pace above the $30 and $40 levels against the US dollar.
\nThe price is trading above $30 and the 100 simple moving average (4 hours).
\nThere is a key bullish trend line forming with support near $35.00 on the 4-hour chart of the AVAX\/USD pair (data source from Kraken).
\nThe pair could continue to rise if it stays above the $35 and $30 support levels.<\/p>\n

AVAX Price Corrects Lower<\/h2>\n

In the past few days, Avalanche\u2019s AVAX saw a strong increase above the $25 resistance zone. It gained over 50% and broke many hurdles near $30. It even cleared the $40 level before the bears appeared.<\/p>\n

A new multi-month high was formed near $43.06 before the price started a downside correction, like Bitcoin<\/a> and Ethereum<\/a>. There was a 15% drop and the price traded below the $38 level. There was a move below the 23.6% Fib retracement level of the upward move from the $21.24 swing low to the $43.06 high.<\/p>\n

AVAX price is still trading above $30 and the 100 simple moving average (4 hours). There is also a key bullish trend line forming with support near $35.00 on the 4-hour chart of the AVAX\/USD.<\/p>\n

<\/a><\/p>\n

Source: AVAXUSD on TradingView.com<\/a><\/p>\n

On the upside, an immediate resistance is near the $38.00 zone. The next major resistance is forming near the $40.00 zone. If there is an upside break above the $38.00 and $40.00 levels, the price could surge over 10%. In the stated case, the price could rise steadily toward the $45 level.<\/p>\n

Dips Limited in Avalanche?<\/h2>\n

If AVAX price fails to continue higher above the $38.00 or $40.00 levels, it could continue to move down. Immediate support on the downside is near the trend line at $35.<\/p>\n

The main support is near the $32.00 zone or the 50% Fib retracement level of the upward move from the $21.24 swing low to the $43.06 high. A downside break below the $32.00 level could open the doors for a major decline towards $18.80. The next major support is near the $26.50 level and the 100 simple moving average (4 hours)<\/p>\n

Technical Indicators<\/p>\n

4 hours MACD \u2013 The MACD for AVAX\/USD is gaining momentum in the bearish zone.<\/p>\n

4 hours RSI (Relative Strength Index) \u2013 The RSI for AVAX\/USD is now below the 50 level.<\/p>\n

Major Support Levels \u2013 $35.00 and $32.00.<\/p>\n

Major Resistance Levels \u2013 $38.00, $40.00, and $45.00.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

AVAX price rallied over 50% and traded above the $40 level. Avalanche is now correcting gains, but the bulls might remain active near the $32 support zone.<\/em><\/p>\n

AVAX price gained pace above the $30 and $40 levels against the US dollar.
\nThe price is trading above $30 and the 100 simple moving average (4 hours).
\nThere is a key bullish trend line forming with support near $35.00 on the 4-hour chart of the AVAX\/USD pair (data source from Kraken).
\nThe pair could continue to rise if it stays above the $35 and $30 support levels.<\/p>\n

AVAX Price Corrects Lower<\/h2>\n

In the past few days, Avalanche\u2019s AVAX saw a strong increase above the $25 resistance zone. It gained over 50% and broke many hurdles near $30. It even cleared the $40 level before the bears appeared.<\/p>\n

A new multi-month high was formed near $43.06 before the price started a downside correction, like Bitcoin<\/a> and Ethereum<\/a>. There was a 15% drop and the price traded below the $38 level. There was a move below the 23.6% Fib retracement level of the upward move from the $21.24 swing low to the $43.06 high.<\/p>\n

AVAX price is still trading above $30 and the 100 simple moving average (4 hours). There is also a key bullish trend line forming with support near $35.00 on the 4-hour chart of the AVAX\/USD.<\/p>\n

<\/a><\/p>\n

Source: AVAXUSD on TradingView.com<\/a><\/p>\n

On the upside, an immediate resistance is near the $38.00 zone. The next major resistance is forming near the $40.00 zone. If there is an upside break above the $38.00 and $40.00 levels, the price could surge over 10%. In the stated case, the price could rise steadily toward the $45 level.<\/p>\n

Dips Limited in Avalanche?<\/h2>\n

If AVAX price fails to continue higher above the $38.00 or $40.00 levels, it could continue to move down. Immediate support on the downside is near the trend line at $35.<\/p>\n

The main support is near the $32.00 zone or the 50% Fib retracement level of the upward move from the $21.24 swing low to the $43.06 high. A downside break below the $32.00 level could open the doors for a major decline towards $18.80. The next major support is near the $26.50 level and the 100 simple moving average (4 hours)<\/p>\n

Technical Indicators<\/p>\n

4 hours MACD \u2013 The MACD for AVAX\/USD is gaining momentum in the bearish zone.<\/p>\n

4 hours RSI (Relative Strength Index) \u2013 The RSI for AVAX\/USD is now below the 50 level.<\/p>\n

Major Support Levels \u2013 $35.00 and $32.00.<\/p>\n

Major Resistance Levels \u2013 $38.00, $40.00, and $45.00.<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-34113","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/34113","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=34113"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/34113\/revisions"}],"predecessor-version":[{"id":34122,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/34113\/revisions\/34122"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=34113"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=34113"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=34113"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}