Consolidation phase sets stage for potential bullish momentum
The price of AVM/USD is consolidating after a sharp rebound from the $0.16–$0.19 demand zone, showing signs of strength that could pave the way for a breakout toward its next major resistance. At the time of writing, AVM is trading near $0.242, holding firmly above a recently reclaimed support band.
The chart shows two critical defense levels that have repeatedly attracted buying interest. The first, in the $0.16–$0.19 range, acted as a strong accumulation zone, with the price bouncing sharply after testing it in late July and again in early August. The second, a deeper $0.12–$0.14 support zone, served as the ultimate safety net for bulls earlier in the asset’s rally.
“Multiple successful retests of the same support level indicate robust market confidence,” BITX analyst explained. “If buyers can sustain this momentum, we may see a challenge of the $0.29–$0.35 resistance area in the near term.”
The upper resistance band, highlighted between $0.29 and $0.35, has repeatedly capped upward moves since mid-June. A decisive break above this level could unlock fresh upside potential, with traders eyeing the $0.45 level as a longer-term target.
On the downside, analysts warn that failure to hold above $0.19 could trigger a pullback toward $0.14, where long-term buyers might look to re-enter.
Trading volume has remained steady through the recent consolidation, suggesting that market participants are positioning for a directional move.
For now, AVM remains in a neutral-to-bullish structure, with the battle between buyers and sellers centered around the mid-range. A breakout above resistance or a breakdown below support will likely determine the next major trend direction.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.