Avalanche Price Consolidates Amid Neutral Momentum
Avalanche's price has been consolidating between an ascending channel and its midline support after a recent pullback. At $7.36, it's down around 3.9% in the past day.
The token holds above the channel's midline support, which has acted as a springboard for previous pullbacks. Momentum has cooled from recent highs but the broader channel remains intact.
According to TradingView, if AVAX closes back above the upper trendline and holds it, chart watchers see a potential move towards $8.3592, followed by $9.5504, and then $10.4786. A rejection at this level would instead point the token back toward support levels at $6.7658, $6.2088, and $5.6829.
The Relative Strength Index (RSI) on the daily timeframe is reading 61.15, positioned above the neutral 50 mark but still short of overbought territory above 70.