Cryptolean Avalanche AVAX Update

After a fast bearish dip to the key daily support at $37 and 100-Day Moving Average, Avalanche recovered strongly and now is trading in the bullish territory, holding the current daily support at $41.65.

A bullish move from $41.65 towards the previous local high and the key daily resistance zone of $47-$49 is very likely.

The AVAX price action with this zone will be very important.

A bearish dip to below $41.65 will result in AVAX price declining to re-test $37 and an interaction with the minor support at $39.5.



The AVAXUSDT 4-Hour chart is trying to re-claim $42.87.

A bullish move from its current price location is likely and will push #Avalanche to the key intraday resistance zone of $46.76-$48.26.

A bearish dip to below$42.87 towards $41.21 or, even better, to $39.57 and a bullish rejection of one of these levels could offer a long trade towards $46.76-$48.26 and higher.

AVAX will follow $BTC. A strong bearish rejection of $69,654-$73,422 in the BTCUSD daily chart will lead to the weakness of the whole #crypto market and AVAX won't be an exception.

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