AVAX Technical Analysis: Lateral Movement Cools Volatility Down in AVAX

AVAX coin price action displays a sideways trend halting the downtrend and respecting the support trendline. Will the bullish reversal sustain? Key technical points: The RSI value surpasses the 14-day average. In addition, the buyers withhold the $73 mark. Finally, the intraday trading volume of Avalanche is $593 Million, with no significant rise in the last 24 hours. Past Performance of AVAX AVAX coin price action shows a sideways trend after approaching the support trendline and sabotaging a bearish double top pattern. The lateral movement is bound between $73 to $82 and moves along with the 200-day EMA. Recently, the coin price found demand at the support confluence and rose 2.36% to retest the 200-day EMA and will shortly surpass it. Source-Tradingview AVAX Technical Analysis AVAX coin price shows a bullish uprise after avoiding a bearish breakout of the support trendline and undermining the previous bearish candle. Hence, the possibility of the uptrend reaching the merged 50 and 100-day EMA increases. The crucial daily EMAs (50, 100, and 200) struggle to maintain a bearish alignment as the merged 50 and 100-day EMAs give a bearish crossover. Hence, the price must sustain above the 200-day EMA to undermine the bearishness induced by the crossover. RSI indicator: The sideways trend continues in the nearly oversold zone, slightly below the zero line as the price trend cools down. However, RSI values challenge the 14-day aver...