AVAX Cryptocurrency Skyrockets Past $36.50 Key Resistance Marker


A financial wind seems to be filling the sails of the AVAX cryptocurrency, as its value rapidly ascends beyond the key resistance marker of $36.50. Observers speculate that if Avalanche can shatter through the formidable $40.00 resistance zone, its climb may enjoy even more spectacular acceleration.

A distinct upswing has been observed from the $30.50 support zone for this digital unit that has historically battled against the U.S. dollar. The current trade value of AVAX is trending confidently over $35.00, surging smoothly over the 100 simple moving average index of four hours in a promising performance.

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The commonly recognized crypto trading pair AVAX/USD has shattered a significant bearish trend line that held a resistance at $34.00 for quite some time. This break occurred on a four-hour chart, signalling that if AVAX maintains a steady tread above $36.30 and $35.50 support levels, it may anticipate a continued ascension in the crypto world.

In the familiar narrative of financial ebbs and flows, the AVAX experienced a calm decline, eventually finding a solid foothold at the $30.50 zone. This resilient pivot point was discovered at merely $30.58, after which the cryptocurrency began to muster a fresh, upward thrust – likened to the refreshing resurgence of Bitcoin and Ethereum.

With an impressive leap of over 10%, AVAX managed to topple numerous obstacles around the $35.00 mark, decimating the bearish trend line that was previously holding steady with a resistance at $34.00. This crypto pair, on a four-hour chart, even outmaneuvered the 50% Fib retracement level that initially sprang from the trajectory between the $39.83 swing high and the $30.58 low.

Notably, the AVAX price has managed to secure stable footing over $36.50, alongside the 100 simple moving average of four hours. Looking forward, immediate resistance is lying in wait around the $37.65 margin, or the 76.4% Fib retracement level of that initial plunge from the $39.83 swing high to the $30.58 low.

Yet, if AVAX manages to break away from the gravitational pull of the $39.80 comet, its price could potentially rocket over 10%. In the event this occurs, it’s reasonable to predict a steadfast hike towards the $42.50, or even $44.00 stratosphere.

While upside potential shimmers with a tantalising gleam, it’s important to also consider the downside. If the AVAX fails to sail higher than $37.65 or $39.80, a downfall may soon follow. Immediate downside support is bracing itself at the $36.30 level, with additional resilience girding the $35.20 zone along with the 100 simple moving average of four hours. Should AVAX plummet beyond this level, the gates may swing open for a sharp descent towards $32.80 with the potential for reaching the next significant support, ominously resting around the $30.50 zone.

In terms of technical indicators, the AVAX/USD’s 4-hour MACD (Moving Average Convergence Divergence) is gaining motivational momentum the bullish domain. At the same time, the 4-hour RSI (Relative Strength Index) is now triumphantly brandishing its flag above the 50 level. As we stand at the intersection of unpredictability and trends, the AVAX’s journey in the unfathomable cosmic expanse of financial trading continues, watched closely by eager observers.