Avalanche [AVAX]: This area could pose substantial near-term resistance
Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice.had a bearish outlook on lower timeframes but this was reversed the previous day after a strong surge from $20.8k to $23k.
A couple of days ago, the price dipped straight back beneath it. However, the formation of the higher lows suggested that buyers were happy to continue to bid AVAX higher and higher. Therefore, even though AVAX bulls managed to push prices back above $20 and to $23, there was a long way yet to go for the long-term trend to flip bullish.Source: AVAX/USDT on TradingView
There could be some choppy waters ahead for AVAX, but overall, the direction over the next week or two looked to be upward.
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