AVAX Faces Resistance After Breakout to $26
The Essentials at a Glance
Avalanche (AVAX) has experienced a significant price increase in recent weeks. After breaking out of a multi-month sideways movement, the price temporarily reached 26 US dollars. However, the resistance zone from February has temporarily halted further gains. Despite strong demand, the necessary momentum to reach new highs is currently lacking. Technical indicators suggest a potential correction.
AVAX Breaks Out of Sideways Phase – But Resistance Remains Strong
Over the past three months, AVAX traded within a clearly defined range between 16 and 22.90 US dollars. In mid-May, the midpoint of this range at 19.50 US dollars served as a springboard for a sharp rally. Within three days, the price surged approximately 32.5% to reach 26 US dollars.
However, the price was unable to overcome the resistance zone between 26.50 and 28 US dollars. This area had already acted as a sell zone in February and is once again serving as a barrier.
Technical Indicators Show Waning Momentum
The MACD (Moving Average Convergence Divergence), an indicator used to identify trend changes, has issued a bearish signal. The lines have crossed, indicating weakening upward momentum. At the same time, the MACD is approaching the zero line – a sign of diminishing buying strength.
The A/D indicator (Accumulation/Distribution) continues to show rising values, suggesting ongoing demand. Nevertheless, AVAX has failed to establish itself above the previous range – a warning sign for short-term traders.
Liquidity Zones Could Influence Price Movement
A look at the liquidation heatmap from Coinglass reveals where large volumes of open positions are located. Particularly notable is the zone between 21 and 21.50 US dollars. These price levels could be approached in the short term, as many stop-loss orders are placed there, providing liquidity.
You should read that too:
-
Asian Slots – The Best Asia-Themed Online Slot GamesReading time: ~ 3 minutes
-
Crash Games in Online Casinos: A Review of Games and Providers
Reading time: ~ 3 minutes
-
Anime Slots – Anime-Themed Slots
Reading time: ~ 3 minutes
-
Food and Drink Slots: The Best Slot Games Inspired by Culinary Delights
Reading time: ~ 3 minutes
-
Space Slots – Best Space-Themed Slots
Reading time: ~ 3 minutes
If AVAX closes below 22 US dollars, it would be a technical warning signal. In this case, a further correction could follow, with 19 US dollars as the next key support level. A high concentration of liquidation orders is located there, which could attract the price in the short term.
Bitcoin as a Key Influencing Factor
As with many altcoins, AVAX’s short-term development is heavily influenced by Bitcoin’s (BTC) price movement. If BTC initiates a correction, AVAX could also come under pressure. Conversely, a stable or rising Bitcoin performance could help AVAX challenge the resistance at 26.50 US dollars again.
Our Assessment
Avalanche continues to show a fundamentally bullish market structure. The breakout above the sideways range is a positive signal, even though the price is currently struggling with strong resistance. As long as AVAX remains above 22 US dollars, the overall outlook remains intact. Below this level, however, a correction down to 19 US dollars is possible. Short-term traders should keep an eye on liquidity zones and the price of Bitcoin. For long-term investors, AVAX remains an exciting project with potential – despite short-term fluctuations.
| Wagering requirements | 35x bonus |
| 35x free spins winnings | |
| Minimum deposit | €20 |
| Maximum bet | €5 |
| Bonus validity | 30 days to claim |
| 14 days to wager / 7 days for free spins |
- There is no maximum bonus amount.
- 10 Free Spins per day over ten (10) days on Gates of Olympus or Book of Ra Deluxe.
| Wagering requirements | 40x bonus |
| 40x free spins winnings | |
| Minimum deposit | 0.0005 BTC |
| Maximum bet | 0.00004 BTC |
| Bonus validity | 30 days after registration |
| 14 days (1st), 7 days (2nd), 1 day (3rd) |
- To get the bonus, enter the bonus code before the deposit.
- Minimum deposit: 0,07 BCH • 0,4 LTC • 233 DOG • 45 XRP • 0,01 ETH • 20 USDT • 69 ADA • 0,05 BNB • 184 TRX • 20 USDC.
- Maximum bet: 0.007 BCH • 0.0009 ETH • 0.04 LTC • 23 DOGE • 2 USDT • 4 XRP • 18 TRX • 7 ADA • 0.005 BNB • 2 USDC • 2 EUR • 2 USD.
- Free spins are provided in batches of 25 per day.
- Free spins are credited on the Gamebeat slots: Max Miner (1st), Book of Elixir (2nd) and Odin’s Tree (3rd).
| 1st deposit | 120% up to $500 + 100 Free Spins |
| 2nd deposit | 100% up to $300 + 100 Free Spins |
| 3rd deposit | 150% up to $500 + 100 Free Spins |
| 4th deposit | 100% up to $300 + 100 Free Spins |
| Wagering requirements | 45x deposit + bonus |
| 40x free spins winnings | |
| Minimum deposit | $10 (1st) |
| $15 (2nd-4th) | |
| Maximum bet | $5 per round |
| Bonus validity | 30 days to claim, 7 days (1st-4th) |
| 7 days for free spins |
- You must complete the registration and verification process, including a valid email or phone number, to qualify for this bonus.
- You must select the desired bonus during the deposit process.
- There is a maximum withdrawal limit of $10 from winnings derived from free spins.
Advertising transparency