) soared above the overhead resistance at $22 on Feb. 2 but the long wick on the day’s candlestick shows that bears are selling on rallies.The rising moving averages suggest that bulls are in command but the negative divergence on the RSI indicates that the momentum may be weakening. If buyers do not give up much ground from the current level, the likelihood of a break above $22 increases. The AVAX/USDT pair could then attempt a rally to $30.
Contrarily, if the price slips below $20.50, the pair could reach the resistance line. The bears will have to sink the pair below this support to tilt the advantage in their favor. The views, thoughts and opinions expressed here are the authors’ alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Source: Digital Coin News (digitalcoinnews.net)
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