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Title: AVAX Price Posts Gains Over Last 24 Hours, Could It Reach $30?

Jun 10, 2022 04:00 AM ET

By: AnalysisWatch

AVAX has earned 1.43% in the last 24 hours.

AVAX is currently trading at $24.56, according to CoinMarketCap.

If the 9 EMA on the 4-hour chart crosses above the 20 EMA, we could see AVAX price retest the $27.00 level.

Avalanche (AVAX), which ranks 15th on CoinMarketCap's list of largest crypto projects by market cap, has seen a 24-hour rise in the last day.

In the last 24 hours, AVAX's price has risen to $24.56, up 1.43% on the previous day. The 24-hour appreciation trend in the AVAX price has also boosted the currency's performance over the past week, as the currency has gained 1.65% over the past 7 days.

AVAX coin price stands at $24.60

Looking at the 4-hour chart of AVAX/USDT, the price of AVAX is currently holding near the $24.60 level.

In addition, the price is also in alignment with the 9 and 20 lines of the exponential moving average

On the 4-hour chart, these lines also tend to intersect, as the 9 EMA tends to cross above the 20 EMA line, which is a bull flag. If this event occurs, we will see a mini bullish rally for AVAX.

The last time the 9 EMA line crossed above the 20 EMA line, the price of AVAX rose from about the same level to $27.00 - by 9.3%. However, a few hours after reaching that level, the price retreated to $23.00 before recovering to its current level.

Over the past 3-4 days, the price of AVAX has consolidated around the $24.60 level, as it has not deviated from this level during this period.

However, if a rally occurs, AVAX will seek to test the next critical resistance level at $25.00. If it breaks above the $25.00 level, the price of AVAX will head towards $27.00.

However, there does not appear to be sufficient conditions for the bullish rally to break above the $27.00 level at this time.

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