AVAX fell to as low as $15.00 on February 3, but ended the day above the $20 support. Today, the altcoin is moving above the current support after retesting it.
Avalanche (AVAX) has fallen below the expected $20.76 level twice before rebounding. The price of the altcoin fell to as low as $15.00 on February 3, but it closed the day above the $20 support. Today, the altcoin is trading above the current support after retesting it.
Since February 3, the downtrend has cooled above the $20.00 support. It seems doubtful that the cryptocurrency will fall further. However, if buyers defend the current support, AVAX will rebound and rise above the $20 support. The first barrier for the uptrend will be at $25.
On the other hand, if the sellers manage to break the $20 support, the next support level will be at $15.00. On the upside, AVAX will begin a sideways trend if it breaks down from the moving average lines. Now, the price of the cryptocurrency is fluctuating between the $20 support and below the moving average lines. AVAX is currently trading at $21.
Analysis of the Avalanche indicator
The $20 support is shown by two elongated candle tails. There is buying pressure at the $20 mark as the altcoin is now in the oversold area of the market. It is possible that buyers will emerge to take AVA корпуса
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