Avalanche (AVAX) Technical Analysis: AVAX Price Eye’s at a 30% Jump Soon!

Key Takeaways

• The AVAX price closed the previous day’s trade at INR 6122 with a market capitalization of INR 206.5 Cr and a circulating supply of 26,82,85,754.46 AVAX.
• Avalanche is trying hard to rebound with a huge margin which could stabilize a 10% upswing to reach the local highs.

Avalanche (AVAX) Technical – Analysis for the Month

The price has maintained a significant descending trend since the beginning of the month. The price appears to be poised to flip the trend soon as it consolidates healthily. With a slight change in the market trend, the price may quickly flip the bearish consolidation.

Initially, the price may try hard to seal the levels above INR 6500 which may ignite an uptrend beyond INR 7200 by the end of April. On the other hand, if the asset faces a rejection, the price could be restricted below INR 7000.

AVAX/INR Technical-Analysis for Short-Term

Source: Tradingview

• The AVAX price traded within a significant uptrend for the past couple of days, maintaining the uptrend line 
• A bounce before hitting the trend line signifies the accumulation of the strength within the rally that may assist the price to reach the levels around INR 6600
• Once the asset secures the levels above INR 6600, the levels around INR 7500 may be secured 
• However, the possibility of the asset reaching the monthly highs close to INR 8000 is pretty high that may validate a strong uptrend further.

Read long term technical analysis of AVAX here.

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