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June has been a devastating month for crypto traders. But regardless of this, we’re seeing some restoration as main cash construct modest upward momentum. AVAX isn’t any completely different, and the coin has now managed to reclaim an necessary support zone after crashing in June. So, the place will it go subsequent? Is the rally short-lived or everlasting? Here are some highlights:

• AVAX had crashed practically 65% in June alone.

• However, the coin has rallied up to now two days with a 15% achieve in 24 hours.

• More importantly, AVAX has reclaimed the $14 support.

Data Source: TradingView 

Where will Avalanche go from right here?

Well, there are lots of eventualities at play right here. First, the rally we’ve seen by AVAX over the previous two days corresponds to a broader restoration available in the market. This might counsel that maybe we have been seeing a short-term aid after huge sell-offs final week. If that’s the case, then AVAX might lose upward momentum very quick.

The excellent news although is that the coin is now buying and selling above the $14 mark. For probably the most half in 2022, this support has held robust even within the face of huge bear strain. So, even when the coin was to drag again from its present 2-day rally, the bulls could have a greater probability of defending the $14 mark than they did every week in the past.

However, failure to maintain $14 might mark the start of a serious decline for AVAX. In reality, after $14, the one different actual support is at $10.70.

Why AVAX nonetheless poses main dangers?

Despite rising above the $14 mark, we nonetheless see main dangers with AVAX. First, the coin has up to now few weeks struggled to maintain the momentum going above $20. 

As such, we count on it to start shedding momentum because it strives towards $20. This might result in a pointy pullback that finally places the $14 support below actual menace.