{"id":34365,"date":"2023-12-21T05:54:36","date_gmt":"2023-12-21T09:54:36","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=34365"},"modified":"2023-12-21T05:54:36","modified_gmt":"2023-12-21T09:54:36","slug":"avax-price-rallies-10-is-avalanche-rally-just-getting-started","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/12\/21\/avax-price-rallies-10-is-avalanche-rally-just-getting-started\/","title":{"rendered":"AVAX Price Rallies 10% \u2013 Is Avalanche Rally Just Getting Started?"},"content":{"rendered":"

AVAX price rallied over 10% and traded above the $45 level. Avalanche is gaining pace and might soon clear the $50 resistance zone.<\/em><\/p>\n

AVAX price is moving higher from the $38.00 support zone against the US dollar.
\nThe price is trading above $42.00 and the 100 simple moving average (4 hours).
\nThere is a major rising channel forming with support near $40.80 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 $40 and $38 support levels.<\/p>\n

AVAX Price Could Extend Rally<\/h2>\n

After a downside correction, Avalanche\u2019s AVAX found support near the $38.00 zone. A low was formed near $36.48, and the price started a fresh increase.<\/p>\n

The price gained over 10% and broke many hurdles near $40. It even outperformed Bitcoin<\/a> and Ethereum<\/a>. There was a clear wave above the 76.4% Fib retracement level of the downward move from the $45.33 swing high to the $36.48 low.<\/p>\n

AVAX price is now trading above $42 and the 100 simple moving average (4 hours). There is also a major rising channel forming with support near $40.80 on the 4-hour chart of the AVAX\/USD pair.<\/p>\n

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

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

On the upside, an immediate resistance is near the $45.40 zone. The next major resistance is forming near the $46.80 zone. If there is an upside break above the $45.40 and $46.80 levels, the price could surge over 10%. In the stated case, the price could rise steadily toward the $50 level or even $52.<\/p>\n

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

If AVAX price fails to continue higher above the $45.40 or $46.80 levels, it could start a downside correction. Immediate support on the downside is near the channel trend line at $40.80.<\/p>\n

The main support is near the $38.00 zone. A downside break below the $38.00 level could open the doors for a major decline towards $34.20 and the 100 simple moving average (4 hours). The next major support is near the $27.50 level.<\/p>\n

Technical Indicators<\/p>\n

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

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

Major Support Levels \u2013 $40.80 and $38.00.<\/p>\n

Major Resistance Levels \u2013 $45.40, $46.80, and $50.00.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

AVAX price rallied over 10% and traded above the $45 level. Avalanche is gaining pace and might soon clear the $50 resistance zone.<\/em><\/p>\n

AVAX price is moving higher from the $38.00 support zone against the US dollar.
\nThe price is trading above $42.00 and the 100 simple moving average (4 hours).
\nThere is a major rising channel forming with support near $40.80 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 $40 and $38 support levels.<\/p>\n

AVAX Price Could Extend Rally<\/h2>\n

After a downside correction, Avalanche\u2019s AVAX found support near the $38.00 zone. A low was formed near $36.48, and the price started a fresh increase.<\/p>\n

The price gained over 10% and broke many hurdles near $40. It even outperformed Bitcoin<\/a> and Ethereum<\/a>. There was a clear wave above the 76.4% Fib retracement level of the downward move from the $45.33 swing high to the $36.48 low.<\/p>\n

AVAX price is now trading above $42 and the 100 simple moving average (4 hours). There is also a major rising channel forming with support near $40.80 on the 4-hour chart of the AVAX\/USD pair.<\/p>\n

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

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

On the upside, an immediate resistance is near the $45.40 zone. The next major resistance is forming near the $46.80 zone. If there is an upside break above the $45.40 and $46.80 levels, the price could surge over 10%. In the stated case, the price could rise steadily toward the $50 level or even $52.<\/p>\n

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

If AVAX price fails to continue higher above the $45.40 or $46.80 levels, it could start a downside correction. Immediate support on the downside is near the channel trend line at $40.80.<\/p>\n

The main support is near the $38.00 zone. A downside break below the $38.00 level could open the doors for a major decline towards $34.20 and the 100 simple moving average (4 hours). The next major support is near the $27.50 level.<\/p>\n

Technical Indicators<\/p>\n

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

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

Major Support Levels \u2013 $40.80 and $38.00.<\/p>\n

Major Resistance Levels \u2013 $45.40, $46.80, and $50.00.<\/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-34365","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\/34365","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=34365"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/34365\/revisions"}],"predecessor-version":[{"id":34370,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/34365\/revisions\/34370"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=34365"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=34365"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=34365"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}