Avalanche (AVAX) is currently experiencing a significant upward momentum. The harmonious movement of moving averages and positive signals from technical indicators suggest that buyers are maintaining control in the market. However, prominent resistance walls in the order book present significant obstacles to upward price movement.
AVAX Trend and Technical Outlook
Currently, AVAX is trading above both the 9-day and 20-day exponential moving averages. This positioning confirms the upward trends in the short and medium terms. The confidence inspired by this trend is facilitating the entry of buyers into the market. The Relative Strength Index (RSI) briefly entered the overbought territory before slightly declining, indicating the strength of the trend remains with some risk of short-term correction.
The MACD indicator remains in the positive zone, sustaining its position above the signal line. This suggests continued buying pressure. Yet, the narrowing histogram indicates a slight slowdown in the buying pace.
Critical Support and Resistance Levels
For AVAX, the initial resistance zones are at $35.71 and $36.57. If these are surpassed, the price could elevate to $41.20. Conversely, support levels are positioned in the range of $32.08 to $31.58. In the event of a deeper retracement, the level at $27.31 could play a critical role.
The order book shows a strong buy wall at $32.00, aligning with technical analysis support levels. A secondary safeguard is a buy wall at $30.00, with a breach potentially leading to losses exceeding 11%. On the upper side, a sell wall of $4.1 million at $34.86 draws attention. Breaking through this could enable the price to initiate a new rally in the short term.
Overall, while the market outlook favors buyers, short-term fluctuations between $34 and $36 may persist. This scenario requires investors to consider both short-term profit opportunities and risks.
Elsewhere, similar bullish signals are also appearing in Ethereum 
$2,007. Recent shifts towards spot Ethereum ETFs are creating a positive atmosphere across the altcoin market.
