Avalanche price increases by 32 % and breaks up resistance zone - bullish trend could rise to $ 16

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Avalanche (AVAX) verzeichnete in den letzten drei Wochen einen starken Aufwärtstrend und etablierte sogar im 1-Tages-Zeitrahmen eine bullische Struktur. Insbesondere der Ausbruch über den starken Widerstandsbereich von 14 Dollar war ein positives Zeichen. Am Freitag, dem 14. Juli, stieg der AVAX-Preis auf 15,97 Dollar, was einem Anstieg von 32 % im Vergleich zum 21. Juni entspricht. In diesem Zeitraum nahm die zinsbullische Preisbewegung auf dem 1-Tages-Chart eine Wende. Diese Entwicklung begünstigte weiterhin die Bullen. Ein weiterer Faktor, der zur starken Rallye von Avalanche in der letzten Woche beigetragen hat, ist die Neuigkeit über die Expansion von Uniswap (UNI) in das …
Avalanche (Avax) has had a strong upward trend in the past three weeks and even established a bullish structure in the 1-day time frame. In particular, the outbreak over the strong resistance area of ​​$ 14 was a positive sign. On Friday, July 14th, the Avax Prize rose to $ 15.97, which corresponds to an increase of 32 % compared to June 21. During this period, the interest bully price movement on the 1-day chart took a turn. This development continued to favor the bulls. Another factor that contributed to the strong rally of Avalanche last week is the news about the expansion of Uniswap (university) into ... (Symbolbild/KNAT)

avalanche (Avax) has had a strong upward trend in the past three weeks and even established a bullish structure in the 1-day period. The outbreak over the strong resistance range of $ 14 was a positive sign.

On Friday, July 14th, the AVAX price rose to $ 15.97, which corresponds to an increase of 32 % compared to June 21. During this period, the interest bully price movement on the 1-day chart took a turn. This development continued to favor the bulls.

Another factor that contributed to the strong rally of Avalanche last week, the news about the expansion of Uniswap (Uni) is to the AVAX network. After the outbreak over the $ 14.50 and the subsequent renewed test, it was likely that the AVAX price would continue to increase.

The bullish structure and the bullish trend make it possible for the AVAX price to increase to $ 16 and higher. The on-balance volume (OBV) shows an enormous purchase volume on the Avalanche market in the past few days, which catapulted the price of the resistance zone of $ 14.50. The price was previously tested on this level on July 9th and briefly met with rejection.

Based on the movement of the prices, fibonacci retracement levels were created. The two levels at which dealers can offer Avax are $ 14.41 and $ 14.04. The long -term goal of the movement lies at the local highs of $ 16 and an expansion by 23.6 % to $ 16.71. A decline under the 78.6 %retracement level of $ 13.52 would make this idea invalid.

The Relative Strength Index (RSI) and the sliding average show upward dynamics. The H4 market structure is also bullish. A decrease below the higher low of $ 14.04 would move the tendency towards a declining page.

The Open Interest (OI) began to decrease after the short -term rejection of $ 15. On the 1-hour chart it can be seen that the OI was on a strong upward trend in parallel at the prices. However, the conviction of the buyers weakened when the price began to fall to $ 15.35 after an increase.

This should not be crazy about swingstrader because it was the weekend and the volume was low. There is the possibility that the market was not yet ready for an outbreak. The decline in the Spot-CVD in the last two days was also a reason to worry for short-term bulls. However, this contradicts OBV, which only shows a slight decline and shows a bullish dominance overall.

Overall, it looks promising for avalanches because the upward trend continues and various indicators indicate a continuation of the increase. However, traders should keep an eye on the above-mentioned support and resistance levels to make their trading decisions.