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Avalanche Price Analysis: AVAX Explodes 25% in Two Days, Will the $100 Resistance Fall?

Key Support levels: $78

Key Resistance levels: $95, $115

AVAX performed much better than the overall market, with a 25% price increase in the past two days after touching the key support at $78. Now, the price rallied to the key resistance at $95, where it is facing some difficulties to move higher. Should it fail, AVAX’s can fall to around $80 and still maintain the uptrend intact.

AVAXUSDT_2022-02-16_17-46-39
Chart by TradingView

Technical Indicators

Trading Volume: The volume in the past few days was considerable and has pushed the price to almost $100.

RSI: The daily RSI failed to make a higher high compared to the price, which may be indicative of a bearish divergence. It is crucial for the price to move higher, otherwise, this may be a warning sign to bulls that bears may resurface.

MACD: The MACD on the daily is bullish, and the histogram is back at making higher highs. This is good news for bulls.

AVAXUSDT_2022-02-16_17-46-47
Chart by TradingView

Bias

The bias for AVAX is bullish in the short term. However, the $100 level is an important resistance to consider, and it’s critical to be vigilant as the price approaches it.

Short-Term Price Prediction for AVAX

The indicators are generally bullish, and if the volume continues to remain high, then AVAX has a great shot at moving past the key resistance and achieving a three-digit valuation at over $100 again. If successful, the next key resistance will be found at $115.

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