TA: AVAX Struggles To Hold Above Resistance As It Eyes $40

TA: AVAX Struggles To Hold Above Resistance As It Eyes $40


Avalanche (AVAX) struggles to hold above key support that will set the tone for a rally to the $40 mark region anticipated by many.

The price of Bitcoin (BTC) saw a retracement as it could not break and hold above important support that corresponds with the daily 50 exponential moving average (EMA). BTC’s unable to hold that region has led to AVAX struggles to form good support. 

Avax Weekly Chart Analysis Avax Weekly Chart Analysis | Source: AVAXUSDT On Tradingview.com

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The weekly chart for Avax shows a downtrend reversal to a low of $16.3, where buyers were more willing to step into the market.

The chart shows the price of Avax needs to break and close above $23.7 for it to resume its bullish

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