Will investors soon see AVAX above $25? Well, the signs are…

ambcrypto.com:

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice

Avalanche [AVAX] witnessed consistent growth over the last week as it swayed above the 4-hour 20/50/200 EMA. As a result, the altcoin pictured a rising-wedge-like structure, one that retested the $25-mark resistance.

Its recent growth saw an expected hurdle near the Point of Control (POC, red), one that offered the highest liquidity in the near term. A convincing close above the $25-ceiling could open doorways for an extended recovery in the coming sessions. At press time, AVAX was trading at $24.42.

Source: TradingView, AVAX/USDT

After plunging to its ten-month low on 19 June, buyers have been exerting constant pressure. This buying resurgence aided AVAX in reclaiming the $20-mark support over the last few days. The altcoin lost more than 26% of its value after breaking down from its previous up-channel on 22 July.

The buyers countered the selling pressure in the $20-zone and pushed the price above the 20/50/200 EMA to reiterate their presence. Thus, the price kept hovering near the upper band of the Bollinger Bands (BB) to reveal a bullish edge.

The bullish crossover on the EMAs has positioned the alt towards a somewhat brighter side. However, the price action approached the $25-level. 

With BB’s upper and lower bands looking towards each other, AVAX could look to constrict its volatility in the coming sessions. In this case, the price action could see a range-bound oscillation near the POC.

A robust close above the upper $25-mark could expose the alt to immediate upside. The potential targets in such a case would lie around the $27-$28 range resistance.

Source: TradingView, AVAX/USDT

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