AVAX Technical Analysis: The Reversal Time Has Come

For 11 long weeks, the AVAX cryptocurrency showed no signs of life. Each weekly candle closed below the opening price. Most interestingly, all this took place in the serious volumes. As a result of such aggression of sellers, the price fell from $100 to $13- a colossal fall that could push investors into complete despair in this cryptocurrency. However, increased trading volumes – this is a good sign that in the long run, this cryptocurrency is interesting to investors. It is also worth paying attention to the local lows of 2021. We are talking about May-June. Source: https://www.tradingview.com/x/tdmDhYwd/ At the time of writing, the AVAX price has not even tested the basic liquidity range of $12. It was from this range that the price journey with the ultimate goal of $ 147 began a year ago. The weekly candle from 20 June closed green, so above the opening price. The first signal of price inhibition by buyers, where the result is noticeable. Though, the aggression of the price rebound indicates the lack of strength of buyers from this range. In our opinion, the AVAX price has a high chance to continue the downward trend to the range of $12, but not as aggressive and confident as before. If buyers are unable to take control of the $24 mark during the current local rebound, expect a tedious slow AVAX price fall with deep upward corrections. We definitely recommend buying AVAX from the $12 range. If the AVAX price is fixed above...