{"id":6926,"date":"2022-08-18T22:28:43","date_gmt":"2022-08-18T22:28:43","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2022\/08\/18\/avalanche-slips-back-into-the-consolidation-zone\/"},"modified":"2022-08-18T22:28:43","modified_gmt":"2022-08-18T22:28:43","slug":"avalanche-slips-back-into-the-consolidation-zone","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2022\/08\/18\/avalanche-slips-back-into-the-consolidation-zone\/","title":{"rendered":"Avalanche slips back into the consolidation zone"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<ul style=\"margin-top:0;margin-bottom:0\">\n<li>\n<p dir=\"ltr\" style=\"line-height:1.295;margin-top:0pt;margin-bottom:0pt\">Avalanche\u2019s AVAX has slipped under a key breakout zone as value corrects<\/p>\n<\/li>\n<li>\n<p>AVAX value has greater than doubled since June<\/p>\n<\/li>\n<li>\n<p>The token faces additional bearish stress after breaking under the 21-day MA<\/p>\n<\/li>\n<\/ul>\n<p dir=\"ltr\" style=\"line-height:1.295;margin-top:0pt;margin-bottom:8pt\">Avalanche AVAX\/USD is buying and selling at $26.12. The value is a slight drop from round $30 at the begin of the month. It needs to be famous that $27.5 is the key resistance zone for the token. Investors may have began to take revenue as the value was greater than doubled from $13 in mid-June.<\/p>\n<p dir=\"ltr\" style=\"line-height:1.295;margin-top:0pt;margin-bottom:8pt\">The stage between $21 and $27.5 is essential for AVAX. It is the consolidation zone that allowed the 50-day MA to hitch help for AVAX. As AVAX enters the zone, traders could possibly be  the slightest indication of a bullish reversal to purchase. We mission additional bearish weak point, with the 50-day MA as the reference stage.\u00a0<\/p>\n<h2 style=\"line-height:1.295;margin-top:18pt;margin-bottom:4pt\">AVAX breaks under 21-day MA to enter the consolidation zone<\/h2>\n<p dir=\"ltr\" style=\"line-height:1.295;margin-top:0pt;margin-bottom:8pt\"><img decoding=\"async\" src=\"https:\/\/media.igms.io\/2022\/07\/18\/1660844224972-4b1689b4-117a-46fb-b8bc-232a0f494808.png\" style=\"width: 600px\" class=\"fr-fic fr-dib\"\/><\/p>\n<p dir=\"ltr\" style=\"line-height:1.295;margin-top:0pt;margin-bottom:8pt\">Source \u2013 TradingView<\/p>\n<p dir=\"ltr\" style=\"line-height:1.295;margin-top:0pt;margin-bottom:8pt\">Technical ranges for AVAX are $27.5. Now resistance and help zones are at $21 and $16. The suggestion is that if the value doesn&#8217;t recapture the $27.5 stage, it may drop subsequent to $21. The MACD line has closed under the transferring common, pointing to constructing bear weak point.<\/p>\n<p dir=\"ltr\" style=\"line-height:1.295;margin-top:0pt;margin-bottom:8pt\">However, we must always do not forget that the 50-day MA is presently at $22.8, above the most important help. The transferring common coincides with a market occasion space the place AVAX confronted some resistance. The area between $22 and $23 needs to be watched carefully as one other potential reversal zone.<\/p>\n<h3 style=\"line-height:1.295;margin-top:14pt;margin-bottom:4pt\">Summary<\/h3>\n<p dir=\"ltr\" style=\"line-height:1.295;margin-top:0pt;margin-bottom:8pt\">AVAX has entered a consolidation zone after slipping under $27.2. The token may fall to the subsequent help at $21. However, the space round $23 may provide help and ignite a bullish reversal. The stage additionally coincides with the 50-day transferring common.<\/p>\n<\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/avalanche-slips-back-into-the-consolidation-zone-but-how-far-can-the-price-drop\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Avalanche\u2019s AVAX has slipped under a key breakout zone as value corrects AVAX value has greater than doubled since June The token faces additional bearish stress after breaking under the 21-day MA Avalanche AVAX\/USD is buying and selling at $26.12. The value is a slight drop from round $30 at the begin of the 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