AVAX Price Drops 6.7% Despite Bullish Technical Momentum – Support Test at $29.41
The post AVAX Price Drops 6.7% Despite Bullish Technical Momentum – Support Test at $29.41 appeared on BitcoinEthereumNews.com. Lawrence Jengar Sep 22, 2025 07:31 AVAX trades at $30.79 after a sharp 6.7% decline, but technical indicators suggest underlying bullish momentum remains intact with key support holding. Quick Take • AVAX currently trading at $30.79 (-6.72% in 24h) • Avalanche’s RSI at 57.54 indicates neutral momentum despite price decline • Strong bullish trend intact above major moving averages despite recent pullback What’s Driving Avalanche Price Today? The AVAX price has experienced a notable 6.72% decline in the past 24 hours, dropping from highs of $33.61 to test support at $29.41. With no significant news events reported in the past week, this price action appears to be driven by broader cryptocurrency market sentiment and technical profit-taking after Avalanche’s recent rally. The absence of negative fundamental catalysts suggests this pullback may be more of a healthy consolidation rather than a trend reversal. AVAX has been trading in a strong uptrend throughout 2025, with the token advancing significantly from its 52-week low of $16.04 to current levels around $30.79. AVAX Technical Analysis: Bullish Signals Emerge Despite Price Decline The Avalanche technical analysis reveals a complex but ultimately constructive picture for AVAX traders. Despite today’s price decline, several key indicators suggest the underlying bullish momentum remains intact. Avalanche’s RSI currently sits at 57.54, placing it firmly in neutral territory rather than oversold conditions. This AVAX RSI reading indicates there’s still room for further upside movement without entering overbought levels that typically signal potential reversals. The MACD indicators paint an encouraging picture for Avalanche bulls. With the MACD line at 2.1840 trading above the signal line at 1.9512, and a positive histogram reading of 0.2328, the momentum indicators suggest continued bullish pressure for AVAX despite the recent price weakness. Moving averages provide strong confirmation of Avalanche’s…
The post AVAX Price Drops 6.7% Despite Bullish Technical Momentum – Support Test at $29.41 appeared on BitcoinEthereumNews.com.
Lawrence Jengar Sep 22, 2025 07:31 AVAX trades at $30.79 after a sharp 6.7% decline, but technical indicators suggest underlying bullish momentum remains intact with key support holding. Quick Take • AVAX currently trading at $30.79 (-6.72% in 24h) • Avalanche’s RSI at 57.54 indicates neutral momentum despite price decline • Strong bullish trend intact above major moving averages despite recent pullback What’s Driving Avalanche Price Today? The AVAX price has experienced a notable 6.72% decline in the past 24 hours, dropping from highs of $33.61 to test support at $29.41. With no significant news events reported in the past week, this price action appears to be driven by broader cryptocurrency market sentiment and technical profit-taking after Avalanche’s recent rally. The absence of negative fundamental catalysts suggests this pullback may be more of a healthy consolidation rather than a trend reversal. AVAX has been trading in a strong uptrend throughout 2025, with the token advancing significantly from its 52-week low of $16.04 to current levels around $30.79. AVAX Technical Analysis: Bullish Signals Emerge Despite Price Decline The Avalanche technical analysis reveals a complex but ultimately constructive picture for AVAX traders. Despite today’s price decline, several key indicators suggest the underlying bullish momentum remains intact. Avalanche’s RSI currently sits at 57.54, placing it firmly in neutral territory rather than oversold conditions. This AVAX RSI reading indicates there’s still room for further upside movement without entering overbought levels that typically signal potential reversals. The MACD indicators paint an encouraging picture for Avalanche bulls. With the MACD line at 2.1840 trading above the signal line at 1.9512, and a positive histogram reading of 0.2328, the momentum indicators suggest continued bullish pressure for AVAX despite the recent price weakness. Moving averages provide strong confirmation of Avalanche’s…
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