EOS and Avalanche (AVAX) Technical Analysis: What to Expect?
Table of contents
EOS
The smart contracting platform differentiates itself by using the dPoS consensus algorithm. EOS coin is the network's utility token.
Past Performance of EOS
The path of the least resistance is northwards as per EOS technical analysis.
Specifically, crypto bulls have successfully pushed through two levels of resistance in the past three weeks of trading.
As EOS token prices bottom-up from H1 2021 lows, prices are now stable versus the greenback on the last trading day.
Day-Ahead and What to Expect
Trading volumes are lower than those of May 2021.
Losses from mid-May through to June might have shaken off participation.
However, EOS bulls are finding their footing, edging higher above July 2021 highs of $4.5 at the time of writing.
The immediate target stands at $7.5.
EOS/USDT Technical Analysis
There are higher highs as per EOS TA in the daily chart.
Technically, every low is a buying opportunity for aggressive bulls, provided prices hold above $4.5.
Bars are banding along the upper BB, pointing to high volatility and underlying momentum.
At this pace, EOS traders can scoop the coin for cheap while aiming at $7.5.
Avalanche (AVAX)
This is a platform for launching DeFi dApps, unique because of its sub-second transaction confirmation. AVAX is the protocol's primary currency.
Past Performance of AVAX
AVAX prices are bottoming up as per Avalanche technical analysis in the daily chart. Avalanche crypto buyers are in control, and the uptrend is firm.
Bull bars are now along the upper BB pointing to strength; chance aggressive traders may capitalize.
AVA prices are now contracting, down four percent versus the greenback on the last trading day.
Day-Ahead and What to Expect
There is a contraction in trading volumes. Even so, the uptrend is defined, referring to price action in the daily chart.
In a bullish breakout pattern above July 2021 high and the multi-month resistance now support Middle BB, Avalanche token buyers could surge back to $23 in the medium term.
AVAX/USDT Technical Analysis
The breakout of August 6 was confirmed over the weekend, a base where the current rally anchors on.
Overly, AVAX buyers are in control as per AVAX technical analysis in the daily chart despite early Asian session losses.
The immediate support line lies at July 2021 highs of $14. On the upside, AVAX buyers are now angling for $23.