{"id":6556,"date":"2022-08-29T22:52:58","date_gmt":"2022-08-30T02:52:58","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=6556"},"modified":"2022-08-29T22:52:58","modified_gmt":"2022-08-30T02:52:58","slug":"avalanche-price-slips-at-30-as-avax-eyes-key-support","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2022\/08\/29\/avalanche-price-slips-at-30-as-avax-eyes-key-support\/","title":{"rendered":"Avalanche Price Slips At $30 As AVAX Eyes Key Support"},"content":{"rendered":"<p>The price of Avalanche (AVAX) slips at $30 against Tether (USDT) as Avalanche (AVAX) eyes key support to hold the price from selling off. AVAX showed great strength rallying to a high of $30 but was rejected as Bitcoin\u2019s (BTC) price continued to go lower, affecting the price of AVAX from trending higher. (Data from Binance)<\/p>\n<p>Avalanche (AVAX) Price Analysis On The Weekly Chart\u00a0<br \/>\nWeekly AVAX Price Chart | Source: AVAXUSDT On Tradingview.com<\/p>\n<p>According to the chart, the price of AVAX had a strong bullish bias at $30, but the price was rejected from that region, causing the price of AVAX to move downward.<\/p>\n<p>After hitting a weekly low of $14.5, AVAX rallied to a high of $30, with hopes of retesting $50. The price was rejected at $30 and has since remained bullish.<\/p>\n<p>The price of AVAX closed with a weekly bearish candle, and the price volume suggests that the new week will be even more bearish.<\/p>\n<p>If AVAX maintains its current structure, we could see a retest of the support at $14.5 or lower, depending on sell volume.<\/p>\n<p>Weekly resistance for the price of AVAX \u2013 $30.<\/p>\n<p>Weekly support for the price of AVAX \u2013 $14.5.<\/p>\n<p>Price Analysis Of AVAX On The Daily (1D) Chart<br \/>\nDaily AVAX Price Chart | Source: AVAXUSDT On Tradingview.com<\/p>\n<p>AVAX\u2019s price reached a daily low of $16, forming good support for the price to bounce off. AVAX\u2019s price rose to $30, but it couldn\u2019t break through the resistance because the price was sharply rejected.<\/p>\n<p>AVAX is currently trading at $19.3 below the 50 and 200 Exponential Moving Averages (EMA), which act as resistance to the price of AVAX breaking higher.<\/p>\n<p>The 50 and 200 EMA correspond to prices of $24 and $40, respectively; for AVAX to trend higher, it must break through this region, which acts as resistance for AVAX prices.<\/p>\n<p>A break and close above the 50-day moving average would indicate a short-term relief bounce, while a close above the 200-day moving average would indicate a downtrend reversal to the upside of the current bearish trend.<\/p>\n<p>If the price of AVAX fails to break the resistance at $24, we could see the price of AVAX going to the lower region for price accumulation at $16.<\/p>\n<p>Daily (1D) resistance for AVAX price \u2013 $24.<\/p>\n<p>Daily (1D) support for AVAX price \u2013 $16.<\/p>\n<p>Price Analysis Of AVAX On The Four-Hourly (4H) Chart<br \/>\nFour-Hourly AVAX Price Chart | Source: AVAXUSDT On Tradingview.com<\/p>\n<p>The price of AVAX on the 4H chart has continued to look weak, trying to hold above the support area at $18; more buy orders in this region could see the price of AVAX going higher.\u00a0<\/p>\n<p>AVAX has formed a <a href=\"https:\/\/www.investopedia.com\/articles\/trading\/04\/012804.asp\" target=\"_blank\" rel=\"noopener\">bullish divergence<\/a> on the 4H chart as the price is oversold; we could see a bounce from this region for AVAX price, as $24 could act as minor resistance.\u00a0<\/p>\n<p>The Relative Strength Index (RSI) for AVAX on the 4H chart is below 30, indicating AVAX is oversold.<\/p>\n<p>Four-Hourly (4H) resistance for AVAX price \u2013 $24.<\/p>\n<p>Four-Hourly (4H) support for AVAX price \u2013 $18.<\/p>\n<p>Featured Image From Fintechs, Charts From TradingView.com<\/p>","protected":false},"excerpt":{"rendered":"<p><!-- wp:html --><\/p>\n<p>The price of Avalanche (AVAX) slips at $30 against Tether (USDT) as Avalanche (AVAX) eyes key support to hold the price from selling off. AVAX showed great strength rallying to a high of $30 but was rejected as Bitcoin\u2019s (BTC) price continued to go lower, affecting the price of AVAX from trending higher. (Data from Binance)<\/p>\n<p>Avalanche (AVAX) Price Analysis On The Weekly Chart\u00a0<br \/>\nWeekly AVAX Price Chart | Source: AVAXUSDT On Tradingview.com<\/p>\n<p>According to the chart, the price of AVAX had a strong bullish bias at $30, but the price was rejected from that region, causing the price of AVAX to move downward.<\/p>\n<p>After hitting a weekly low of $14.5, AVAX rallied to a high of $30, with hopes of retesting $50. The price was rejected at $30 and has since remained bullish.<\/p>\n<p>The price of AVAX closed with a weekly bearish candle, and the price volume suggests that the new week will be even more bearish.<\/p>\n<p>If AVAX maintains its current structure, we could see a retest of the support at $14.5 or lower, depending on sell volume.<\/p>\n<p>Weekly resistance for the price of AVAX \u2013 $30.<\/p>\n<p>Weekly support for the price of AVAX \u2013 $14.5.<\/p>\n<p>Price Analysis Of AVAX On The Daily (1D) Chart<br \/>\nDaily AVAX Price Chart | Source: AVAXUSDT On Tradingview.com<\/p>\n<p>AVAX\u2019s price reached a daily low of $16, forming good support for the price to bounce off. AVAX\u2019s price rose to $30, but it couldn\u2019t break through the resistance because the price was sharply rejected.<\/p>\n<p>AVAX is currently trading at $19.3 below the 50 and 200 Exponential Moving Averages (EMA), which act as resistance to the price of AVAX breaking higher.<\/p>\n<p>The 50 and 200 EMA correspond to prices of $24 and $40, respectively; for AVAX to trend higher, it must break through this region, which acts as resistance for AVAX prices.<\/p>\n<p>A break and close above the 50-day moving average would indicate a short-term relief bounce, while a close above the 200-day moving average would indicate a downtrend reversal to the upside of the current bearish trend.<\/p>\n<p>If the price of AVAX fails to break the resistance at $24, we could see the price of AVAX going to the lower region for price accumulation at $16.<\/p>\n<p>Daily (1D) resistance for AVAX price \u2013 $24.<\/p>\n<p>Daily (1D) support for AVAX price \u2013 $16.<\/p>\n<p>Price Analysis Of AVAX On The Four-Hourly (4H) Chart<br \/>\nFour-Hourly AVAX Price Chart | Source: AVAXUSDT On Tradingview.com<\/p>\n<p>The price of AVAX on the 4H chart has continued to look weak, trying to hold above the support area at $18; more buy orders in this region could see the price of AVAX going higher.\u00a0<\/p>\n<p>AVAX has formed a <a href=\"https:\/\/www.investopedia.com\/articles\/trading\/04\/012804.asp\" target=\"_blank\" rel=\"noopener\">bullish divergence<\/a> on the 4H chart as the price is oversold; we could see a bounce from this region for AVAX price, as $24 could act as minor resistance.\u00a0<\/p>\n<p>The Relative Strength Index (RSI) for AVAX on the 4H chart is below 30, indicating AVAX is oversold.<\/p>\n<p>Four-Hourly (4H) resistance for AVAX price \u2013 $24.<\/p>\n<p>Four-Hourly (4H) support for AVAX price \u2013 $18.<\/p>\n<p>Featured Image From Fintechs, Charts From TradingView.com<\/p>\n<p><!-- \/wp:html --><\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-6556","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\/6556","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=6556"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/6556\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=6556"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=6556"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=6556"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}