Avalanche (AVAX) has been performing well in its recent trades. The token price rally is near testing a crucial resistance level. It shows buying signals.
However, technical indicators and market experts remain cautious. That’s due to resistance at a trendline and the possibility of a bearish reversal.
AVAX Price Analysis: Bullish Momentum with Resistance Ahead
AVAX’s recent price indicates a strong bullish trend from $22.80, which is near the lower Bollinger Band, to $27.67.
This rise was earlier on signaled but a bullish candle suggests a possible positive move after a long period of bearish trend.
1-day AVAX trading chart|source TradingvView
If the AVAX price is to continue with its current bullish move, the middle Bollinger Band at $25.98 could offer support.
Bollinger Bands are opening up suggesting higher volatility in AVAX. The last bounce near the lower Bollinger Band pulled the price a little higher towards the upper Bollinger Band at $29.16 indicating short-
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