Avalanche (AVAX) and Numeraire (NMR) Technical Analysis: Back to New All-Time Highs?
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Avalanche (AVAX)
The DeFi active platform is one of the most active platforms using AVAX as its internal currency.
Past Performance of AVAX
After a brief period of lower lows, Avalanche crypto buyers are swinging back. Consequently, AVAX is firm versus the greenback, grinding higher.
Day-Ahead and What to Expect
As per the AVAX technical analysis of the daily chart, prices are firmly in an uptrend.
As such, traders might find entries on dips, riding the swing higher to September 2021 highs of around $80.
A subsequent breakout above this level may see AVAX token prices trend in new all-time highs.
Based on the H1 2021 trade range, AVAX/USDT prices may surge to $100—the 1.618 Fibonacci extension level. It is provided that the close above September 2021 highs is with high trading volumes.
Avalanche Technical analysis
From the AVAX candlestick arrangement in the daily chart, buyers are dominant.
Besides, AVAX/USDT bull bars are now banding along the upper BB after a minor bullish breakout pattern.
The immediate target lies at $80.
A break above this level may see AVAX prices lift off to $100, continuing the upswings set in motion in H1 2021.
Numeraire (NMR)
Using the reliability of Ethereum, the platform allows data scientists to build superior machine learning models. NMR is central to its operation.
Past Performance of NMR
The Numeraire token is within a tight trade range in a price action dominated by whipsaws pointing to indecision.
Nonetheless, NMR has the upper hand, oscillating inside an ascending wedge.
Day-Ahead and What to Expect
As per the NMR technical analysis, Numeraire is bullish above $40.
A close above the primary liquidation line at $50 may further spark demand, possibly lifting Numeraire crypto towards $90.
However, it may turn for the worse for NMR/USDT if sellers take charge, closing below the primary support trend line. Then, NMR may collapse to $36.
Numeraire Technical Analysis
There are hints of weakness since NMR buyers aren't taking charge, rejecting bear attempts in the daily chart.
The immediate support is the multi-week support trend line and $40.
As mentioned earlier, NMR/USDT may slide to $36 in a cool-off if sellers take charge.
On the flip side, a series of higher highs could embolden buyers, building the base for a take-off above $50.