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![Avalanche [AVAX] reaches a zone of resistance but buyers can benefit here](https://cryptonoiz.com/wp-content/uploads/2022/05/PP-1-cover-1000x600.jpg)
Disclaimer: The findings of the next evaluation are the only opinions of the author and shouldn’t be thought-about funding recommendation.
Avalanche has been bearish within the month of Could, however AVAX was capable of flip the $24.14 degree from resistance to help over the weekend. Furthermore, Avalanche continued to push larger towards $28 as demand seeped into the market.
Bitcoin burst out of the $28.7k-$30.6k vary the day gone by to commerce at $31.7k. To the north, vital resistance lies on the $32.6k mark and the $35k space. It appeared doable that, after two weeks of consolidation on the $30k mark, Bitcoin would push larger towards the $36k-$38k area.
AVAX- 2 Hour Chart
Supply: AVAX/USDT on TradingView
On 12 Could, the value dipped to $23.51 and was capable of bounce as excessive as $36.8. Nonetheless, over the previous two weeks, the value continued to descend steadily and fell beneath the $24.14 help.
Nonetheless, over the weekend, Bitcoin bulls had been capable of combat again from the vary lows after dipping to $28.3k, and Avalanche was rising on the value charts alongside the king of crypto. AVAX flipped $24.14 to help, and at press time as buying and selling inside the $28 space of resistance (pink field).
This zone acted as help the earlier week, and if AVAX can climb previous this area and set up it as help, one other push larger towards $36 could be anticipated for AVAX.
Rationale
Supply: AVAX/USDT on TradingView
The RSI was capable of climb again above the impartial 50 line to point out that momentum has a bullish bias as soon as extra. It was capable of keep above 60 for a few days as nicely, which meant that momentum had been sturdy.
The OBV has additionally risen previously few days. The 2 orange strains are ranges that patrons need to see damaged on the decrease timeframes on the OBV. This may point out good shopping for stress and regular demand behind a push upward for AVAX.
Conclusion
The upper timeframe development for AVAX, corresponding to D1, remained bearish. Nonetheless, the coin nonetheless had a number of room to the upside earlier than a possible continuation of the upper timeframe downtrend.
On the decrease timeframes, the bias has been flipped to bullish. A transfer above $28 and a retest as help can be utilized to enter lengthy positions focusing on $32.6 and the $35-$36 resistance.
