Avalanche (AVAX) has recently reclaimed the $20 level, drawing attention from traders and experts in the cryptocurrency space. The current price of AVAX is $21.39, showing potential for further growth.
AVAX Tests the $20 Level
Avalanche (AVAX) has returned above $20, a price level that has often acted as a turning point in the past. Cryptocurrency expert Ali noted: "Avalanche $AVAX must hold above $20 to keep the uptrend intact and aim for the channel’s upper boundary at $26!"
Sentiment Builds After Price Recovery
According to the 4-hour chart of AVAX, the price is moving within a well-defined horizontal channel with resistance near $26 and support in the $20–$21 range. After a sharp drop in early July, the price began to recover, reaching $21.39.
AVAX's Future and Technical Indicators
The current positioning of AVAX suggests a potential shift towards an uptrend if the price remains above $20. A clean move above $22 may signal continuation, while a drop below $19.50 could reintroduce bearish pressure.
The recovery of the $20 level has set the stage for possible further gains in AVAX, and traders are awaiting confirmation of this direction in the next 48 hours.
