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AVAX price prediction: AVAX price targets $18.5

 


The AVAX price only reached last month's opening price of around USD 26.5, before falling sharply again.


AVAX Price Targets $18.5


AVAX price fell sharply yesterday, breaking the 50-day EMA in a bearish manner. With that, AVAX has even fallen below the 0.382 Fib support at around $21.5. Accordingly, AVAX is now on the way to golden ratio support at around USD 18.5. That implies downside potential of around 12.65%.


In addition, the histogram of the MACDs has been ticking bearishly lower for a few days and the MACD lines are also about to cross over bearishly. Although AVAX price is forming both higher lows and higher highs, AVAX seems to be continuing the downtrend now. The RSI is neutral.


AVAX price is up around 93% since AVAX hit $13.71

AVAX price is up around 93% since AVAX bottomed at around $13.71. This allowed AVAX to bounce off much more than some other cryptocurrencies . Should the golden ratio fail to support support at around USD 18.5, AVAX will find support between USD 13.71 and USD 16.37 at the latest.


Overall, this could still be the start of a longer move higher. It would be important for AVAX to bounce off the bullish golden ratio at around USD 18.5 at the latest in order to continue the upward movement.


The MACD is still bullish, because the histogram has been ticking bullishly higher for a few weeks and the MACD lines could also cross bullishly. The RSI is also neutral here.


AVAX price is unlikely to reach a bullish candle formation on the monthly chart

AVAX initially had a very bullish July but was then severely rebuffed from last month's open price around $26.43. The AVAX course would have to exceed this price level this month and close above it at the turn of the month in order to form a bullish candle formation in the monthly chart.


In the bearish case that AVAX even breaks the support between USD 13.71 and around USD 17, significant support is only waiting for AVAX again between USD 9.32 and USD 11.95.


AVAX likely to close below 0.382 Fib resistance

Against BTC, AVAX price appears to be bearishly rejected at the 0.382 Fib resistance around 0.00104 BTC. AVAX could accordingly close below this month. Then AVAX finds significant Fibonacci support around 0.00081 BTC. Otherwise, AVAX finds significant support at the latest at the local bottom at around 0.00061 BTC.


Significant Fibonacci resistance awaits upwards at around 0.00104 BTC and between around 0.0013086 and 0.001379 BTC.


Disclaimer

All information contained on our website has been researched to the best of our knowledge and belief. The journalistic contributions are for general information purposes only. Any action that the reader takes based on the information found on our website is entirely at their own risk.

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