AVAX’s price shows strength as it bounces from a downtrend with high volume, aiming for a rally to $20. AVAX faces a rejection to trend higher above $17 after the price fell sharply below key resistance. AVAX’s price remains strong below the 50 Exponential Moving Average (EMA) as it attempts to rally past a key area. The price of Avalanche (AVAX) has remained strong as it approaches the $17 region, facing resistance to rising to the $20 region. The crypto market has appeared more stable this week, with Bitcoin (BTC) and Ethereum (ETH) experiencing significant price movement. This new relief rally in the crypto market has benefited smaller coins such as Avalanche (AVAX), which has rallied from its downtrend movement to a high of $17 as price attempts to break through key resistance. (Data from Binance) Related Reading: Why These Major Crypto Wallets Acquired Over 100 Million XRP In Last 24 Hours Avalanche (AVAX) Price Analysis On The Weekly Chart Although many altcoins have struggled to trend in a range market, the price of AVAX has seen more of a downtrend move as the price of AVAX dropped from a high of $150 to $15, seeing more than an 80% decline in its price. AVAX’s price recently declined from an all-time high of more than $150 to a region of $75 before rallying to a high of $100; the price of AVAX faced further rejection to its price to a range low of $60. The price of AVAX bounced immediately, forming p...
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