<strong><em>The Avalanche(AVAX) price action shows a post-retest reversal attempt from the $22 support level to cross above the $28 mark.  </em></strong>

<strong>Key technical points: </strong>
<ul>
 	<li>The AVAX prices dropped by 6.90% in the last 24 hours.</li>
 	<li>The price action shows a lower price rejection in the daily candle from $22, teasing a bullish reversal.</li>
 	<li>The 24-hour trading volume of Avalanche is $922 Million, indicating a drop of 19%.</li>
</ul>
<h2>Past Performance of AVAX</h2>
As mentioned in our <a href="https://www.cryptoknowmics.com/news/avax-technical-analysis-will-avax-prices-exceed-the-trendline">previous article</a>, the Avalanche(AVAX) prices broke the resistance trendline’s influence and beat the 50-day average price. The bullish reversal from $16, accounting for a 50% jump last week, is responsible for breaking the downtrend. However, the price trend took a turnaround from $24.5 to retesting the $22 mark.

<img src="https://s3.tradingview.com/snapshots/o/oL0UwOCS.png" alt="TradingView Chart" />

<strong>Source- </strong><a href="https://www.tradingview.com/x/oL0UwOCS/" target="_blank" rel="noopener">Tradingview</a>
<h2><span style="font-weight: normal">AVAX Technical Analysis </span></h2>
The daily candle in the <a href="https://coincodex.com/crypto/avalanche/" target="_blank" rel="noopener">AVAX price</a> chart shows a long-tail formation from $22, reflecting a post-retest bullish reversal. Hence, if the buying pressure sustains, the breakout rally can reach the overhead resistance at the $28 mark. Tomorrow is the if the market price sustains above the 50-day SMA, a jump to the 100-day SMA seems inevitable.

The RSI indicator maintains a bullish view for the upcoming trend as the RSI slope sustains in the overbought territory. Additionally, the 14-day average line crosses above the halfway line indicating an increase in underlying bullishness.

Furthermore, the MACD indicator displays a gradual growth in buying pressure as the fast and slow lines cross into positive territory. In a nutshell, the AVAX technical analysis forecasts a high momentum bullish rally crossing above the $28 mark.
<h2><span style="font-weight: normal">Upcoming Trend</span></h2>
Considering the buying pressure sustains the Avalanche(AVAX) prices above $22, traders can expect an uptrend continuation to the $28 mark. However, a dip under the $22 mark will drop prices to the psychological mark of $20.

<strong>Resistance Levels:</strong> $25 and $28

<strong>Support Levels:</strong> $22 and $20

AVAX Technical Analysis: Post-Retest Reversal Boosts Bullish Hope

The Avalanche (AVAX) Technical Analysis shows a post-retest reversal attempt from the $22 support level to cross above the $28 mark.  

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

AVAX Technical Analysis: Post-Retest Reversal Boosts Bullish Hope

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