AVAX Continues Its Range Above $34

The latest price analysis by Coinidol.com report, the price of Avalanche (AVAX) has ended its decline after hitting a low of $33 on December 20, 2024.

Long-term analysis of the Avalanche price: fluctuation range

The bulls bought the dips and established a range above the $34 support but below the moving average lines or the $44 resistance level. Over the last three weeks, price action has been steady. AVAX will resume its uptrend if buyers push the price above the moving average lines and the $44 level. AVAX will rise and regain its previous high of $55. 

However, the bulls are defending their current support at $34. If this support is broken, AVAX will fall to as low as $30. If the current resistance and support levels are not broken, AVAX will continue to trade within its range.

Analysis of the Avalanche  indicator

Since January 9, 2025, the price bars have fallen below the moving average lines. The price movement is static as doji candlesticks appear in the downtrend zone. The moving average lines are horizontal, indicating a sideways trend.

Technical indicators:

Key resistance levels – $60 and $70

Key support levels – $30 and $20

What is the next direction for Avalanche?

On the 4-hour chart, AVAX is falling below the moving average lines. The altcoin is trading in a limited range of $34 to $38. AVAX is correcting upwards after rising above the 21-day moving average line. The cryptocurrency is between the moving average lines, suggesting that AVAX will be range bound for a few more days.

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.