AVAX has crossed significant price milestones, with potential for further gains amidst varying market sentiments.
Points
- AVAX price surpassed the $30 milestone, exciting investors.
- Key Fibonacci retracement levels act as significant resistance.
- Daily RSI stands at 51, indicating a positive market outlook.
- Potential gains could see AVAX reaching $34.3, $37.5, and $39.5.
- Market volume decline observed, affecting trading activity.
Avalanche （AVAX） has recently surpassed the $30 price milestone, generating excitement among investors. This positive movement comes amidst a mixed market sentiment, with daily outlooks appearing optimistic while the weekly perspective remains bearish. This discrepancy suggests that AVAX could reach up to $40 before potentially reversing.
Key Fibonacci retracement levels from the May and June declines have been crucial, with the 50% level at $32.66 acting as a major resistance. The daily Relative Strength Index （RSI） stands at 51, indicating a balanced market. After a pullback last week, today’s outlook appears more optimistic.
Earlier this month, liquidity around the $30.8 mark enabled upward price traction, with AVAX rising to $33 before retreating. For further gains, significant levels include $34.3, $37.5, and $39.5. There’s a possibility that AVAX could form a range above $30, triggering a downward movement as it captures existing liquidity, leading to the liquidation of short positions.
The decline in market volume has also been noted, with AVAX’s market cap dropping to $10.842 billion, maintaining its 12th rank. Trading volume has decreased by 47%, now at $340.6 million.
解説
- AVAX’s price movements reflect the broader market’s mixed sentiments and potential volatility.
- Key resistance levels identified through Fibonacci retracement are critical for future price actions.
- Investors should be cautious of potential downturns while monitoring for signs of bullish continuation.
- The observed decline in trading volume indicates reduced market activity, impacting liquidity and price stability.