{"id":123183,"date":"2023-07-16T15:31:55","date_gmt":"2023-07-16T15:31:55","guid":{"rendered":"https:\/\/dripp.zone\/news\/avalanche-offers-a-buying-opportunity-at-14-5-heres-why-you-should-take-it-crypto-news\/"},"modified":"2023-07-16T15:31:58","modified_gmt":"2023-07-16T15:31:58","slug":"avalanche-offers-a-buying-opportunity-at-14-5-heres-why-you-should-take-it-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/avalanche-offers-a-buying-opportunity-at-14-5-heres-why-you-should-take-it-crypto-news\/","title":{"rendered":"Avalanche offers a buying opportunity at $14.5, here&#8217;s why you should take it\n &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><i>Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer&#8217;s opinion.<\/i><\/p>\n<ul>\n<li><em>Avalanche has trended upward in the past three weeks and established a bullish structure even on the 1-day time frame.<\/em><\/li>\n<li><em>The $14 area represented a strong resistance zone and the breakout was a positive sign.<\/em><\/li>\n<\/ul>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/avax\" data-wpel-link=\"internal\">avalanche [AVAX]<\/a>  surged to $15.97 on Friday, 14 July, registering gains of 32% measured from 21 June, when the AVAX price action took a bullish turn on the 1-day chart.  The price action continued to favor the bulls.<\/p>\n<hr\/>\n<p style=\"text-align: center;\">read <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/predictions\/avalanche-2-price-prediction\" data-wpel-link=\"internal\">Avalanche&#8217;s [AVAX] Price Prediction<\/a> 2023-24<\/p>\n<hr\/>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/why-avaxs-latest-bullish-stride-may-be-closely-linked-to-this-defi-network\/\" data-wpel-link=\"internal\">News<\/a> of <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/uni\" data-wpel-link=\"internal\">Uniswap [UNI]<\/a>  expanding into the AVAX network helped explain the strong rally that Avalanche saw last week.  After the breakout past the $14.5 zone and the subsequent retest, it was likely that AVAX would continue to move higher.<\/p>\n<h4>The bullish structure and trend meant a move to $16 and higher was possible<\/h4>\n<div id=\"attachment_327963\" style=\"width: 1950px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/PP-1-AVAX-price-1.png\" data-wpel-link=\"internal\"><noscript><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-327963\" class=\"size-full wp-image-327963\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/PP-1-AVAX-price-1.png\" alt=\"avalanche [AVAX] presents a buying opportunity after the breakout past $14.5\" width=\"1940\" height=\"1099\" srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/PP-1-AVAX-price-1.png 1940w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/PP-1-AVAX-price-1-300x170.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/PP-1-AVAX-price-1-1024x580.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/PP-1-AVAX-price-1-768x435.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/PP-1-AVAX-price-1-1536x870.png 1536w\" sizes=\"auto, (max-width: 1940px) 100vw, 1940px\"\/><\/noscript><\/a><\/p>\n<p id=\"caption-attachment-327963\" class=\"wp-caption-text\">Source: AVAX\/USDT on TradingView<\/p>\n<\/div>\n<p>The OBV showed that the past few days saw enormous buying volume in the Avalanche market that catapulted the price above the $14.5 resistance zone.  This area, highlighted by the red box, was a bearish order block on the 1-day time frame from 6 June.<\/p>\n<p>It was previously tested as resistance on July 9, and AVAX met a brief rejection to fall to $12.85 before rallying once again.  Based on this move, a set of Fibonacci retracement levels were plotted.  It showed the 50% and 61.8% retracement levels sat at $14.41 and $14.04 respectively.<\/p>\n<p>Hence these are the two levels traders can look to bid AVAX at, targeting a move to the local highs at $16 and a 23.6% extension at $16.71.  Invalidation of this idea would be a drop below the 78.6% retracement level at $13.52.<\/p>\n<p>The RSI and the moving averages showed bullish momentum.  The H4 market structure was also bullish.  But a drop below the higher low at $14.04 would shift the bias towards the bearish side.<\/p>\n<h4>The Open Interest started to decline after the short-term AVAX rejection from $15.<\/h4>\n<div id=\"attachment_327962\" style=\"width: 1933px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/PP-1-AVAX-coinalyze-1.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-327962\" class=\"size-full wp-image-327962\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"avalanche [AVAX] presents a buying opportunity after the breakout past $14.5\" width=\"1923\" height=\"1116\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/PP-1-AVAX-coinalyze-1.png 1923w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/PP-1-AVAX-coinalyze-1-300x174.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/PP-1-AVAX-coinalyze-1-1024x594.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/PP-1-AVAX-coinalyze-1-768x446.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/PP-1-AVAX-coinalyze-1-1536x891.png 1536w\" data-lazy-sizes=\"(max-width: 1923px) 100vw, 1923px\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/PP-1-AVAX-coinalyze-1.png\"\/><noscript><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-327962\" class=\"size-full wp-image-327962\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/PP-1-AVAX-coinalyze-1.png\" alt=\"avalanche [AVAX] presents a buying opportunity after the breakout past $14.5\" width=\"1923\" height=\"1116\" srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/PP-1-AVAX-coinalyze-1.png 1923w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/PP-1-AVAX-coinalyze-1-300x174.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/PP-1-AVAX-coinalyze-1-1024x594.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/PP-1-AVAX-coinalyze-1-768x446.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/PP-1-AVAX-coinalyze-1-1536x891.png 1536w\" sizes=\"auto, (max-width: 1923px) 100vw, 1923px\"\/><\/noscript><\/a><\/p>\n<p id=\"caption-attachment-327962\" class=\"wp-caption-text\">Source: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coinalyze.net\/avalanche\/open-interest\/\" data-wpel-link=\"external\">Coinalyze<\/a><\/p>\n<\/div>\n<p>The 1-hour chart showed that the OI was on a strong upward trajectory alongside the prices on 15 July.  However, the conviction of the buyers began to weaken as the price began to slump following a move to the $15.35 mark.<\/p>\n<hr\/>\n<p style=\"text-align: center;\">Is your portfolio green?  check the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/calculator\/avalanche-2-profit-calculator\" data-wpel-link=\"internal\">Avalanche Profit Calculator<\/a><\/p>\n<hr\/>\n<p>This need not dissuade swing traders as it was the weekend.  And volume was low and the market might not be ready for a breakout.  The declining spot CVD over the past two days was also a concern for short-term bulls.  It was at odds with the OBV, which saw only a minor pullback and showed bullish dominance overall.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer&#8217;s opinion. Avalanche has trended upward in the past three weeks and established a bullish structure even on the 1-day time frame. The $14 area represented a strong resistance zone and the breakout was a positive [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":123184,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-123183","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/123183","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=123183"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/123183\/revisions"}],"predecessor-version":[{"id":123185,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/123183\/revisions\/123185"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/123184"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=123183"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=123183"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=123183"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}