Avalanche (AVAXUSD) price advanced in its latest intraday trading, supported by dynamic backing from trading above its 50-day SMA. The short-term corrective bullish trend remains in control, with trading moving along an upward slope line that supports this path. The recent rise also came after the price managed in previous trading to unwind its clear overbought levels in the Stochastic indicators, giving it more room to achieve further gains.

Therefore, we expect the currency to rise in its upcoming intraday trading, as long as the support level of 22.20 holds, to then target the key resistance level of 27.40 in preparation to test it.

Todays price forecast: Bullish.