$AVAX Avalanche Targeting Major Resistance Breakthrough🎯🎯🎯
The price of Avalanche remains above the 200-day Exponential Moving Average (EMA) at $23.39. The recovery in daily trading approaches the 38.2% Fibonacci level, which acts as upper resistance at $25.50, stretching between the peak of $53.98 from December 8 and the low of $16.04 from April 6.
A decisive push above this resistance is crucial for continuing the recovery, with the potential to target the 50% retracement level at $29.43.
The 50-day EMA is rising towards the 200-day EMA, targeting a Golden Cross, which will provide a buy signal when the short-term recovery surpasses the long-term trend.
However, momentum indicators remain mixed as short-term volatility continues. On the daily chart, the Relative Strength Index (RSI) is at 57, up from 52 on Thursday, indicating increasing buying pressure and suggesting potential further recovery.
Additionally, the Moving Average Convergence Divergence (MACD) maintains an upward trend with its signal line, but at a slower pace, indicating low bullish momentum.
Looking down, if AVAX falls below the 200-day EMA at $23.39, the coin may continue to decline towards the 50-day EMA at $22.58.
