AVAX: Resistance BreakoutAvalanche (AVAX) technical analysis:
Trade setup : Bullish break above $25 signaled continuation of uptrend and price has surpassed our target of $35 near-term. However, price is now very overbought (RSI ~ 90) and weβre likely to see it pause here on some profit taking.
Trend : Uptrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Bullish but extremely overbought. ( MACD Line is above MACD Signal Line). RSI is bullish (> 55) but extremely overbought (> 80) which could imply that price could briefly pause or pull back if it reaches Resistance.
Support and Resistance : Nearest Support Zone is $25 (previous resistance), then $20. The nearest Resistance Zone is $35, which it broke, then $50.