in

Avalanche price analysis: AVAX spikes towards $17.6 after bullish run

image 338


Today’s Avalanche price analysis shows a complete bullish trend regaining momentum with additional room for bullish activities. AVAX/USD is currently trading at $17.6 and has been up 5.38% in the past 24 hours, with a trading volume of $459,275,012 with a live market cap of $4,972,069,836, ranking #17 in the cryptocurrency rankings. The market capped yesterday in a crashing momentum and is opening today with hopeful bullish signs adding to yesterday’s crash below the $16.5 mark. In addition, the volatility remains dormant, giving the bulls less opportunity for a complete takeover.

AVAX/USD 4-hours analysis: Latest developments

Avalanche price analysis indicates market volatility following a slightly decreasing trend, which means that AVAX/USD prices are decreasingly prone to fluctuating volatility. The Bollinger’s band’s upper limit is $18.1, which acts as the strongest resistance point for AVAX. Conversely, the lower limit for the Bollinger’s band is available at $15.8, which serves as the strongest support point for AVAX.

The price of AVAX/USD appears to cross over the Moving Average curve, signifying a bullish movement. As a result, bulls have just recently come into action and taken over the market by storm. However, their reign might not last long as the price movement appears to be positive upwards and has the potential to break the market’s resistance, indicating strong chances of a reversal movement.

AVAX/USD 4-hour price chart source: TradingView

The Relative Strength Index (RSI) is 57, which stabilizes cryptocurrency, entering the upper neutral region. However, we can trace the RSI following a downward path, indicating selling activity dominance and a decreasing market.

Avalanche Price Analysis for 1-day

Avalanche price analysis shows market volatility following a decreasing trend, indicating that the probability of AVAX/USD experiencing fluctuations decreases as the volatility fluctuates. The Bollinger band’s upper limit is $26.9, which acts as the most substantial resistance for AVAX. Conversely, the lower limit for the Bollinger band is at $11.6, serving as the strongest support point for AVAX.

The price of AVAX/USD appears to be crossing over the Moving Average curve, indicating a bullish move. However, the market’s direction shifts towards an upward movement, showing increasing dynamics. Bulls have entirely taken over the market, weakening the bears’ stance. It appears the odds stack in favor of the bulls in every aspect.

image 337
AVAX/USD 1-day price chart source: TradingView

The Relative Strength Index (RSI) is 39, indicating an undervalued cryptocurrency. Furthermore, the price appears to follow an upward path towards the inflation region, exhibiting signs of the cryptocurrencys’ increasing value and movement towards stability and intense buying activity.

Avalanche Price Analysis Conclusion

The conclusion of the Avalanche price analysis indicates that the cryptocurrency behavior suggests that it is following a complete bullish trend with further bullish potential. Fortunately, the market has recently fallen under the complete bullish dominion but exhibits signs of total stability from the bulls.

The RSI score suggests that an increment in value is inevitable in the coming days; the bulls are on the strong foot here and might engulf the whole market soon. We will have to wait and see what the market decides for Avalanche.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.



Source link

Leave a Reply

Your email address will not be published.

GIPHY App Key not set. Please check settings

What do you think?

Satoshi's Mission, LUNA, UST and Where Crypto Went Wrong

Voyager Digital Cuts Daily Withdrawal Limit to $10K Amid 3AC exposure

Avalanche announces Core Browser Extension, add BTC support

Avalanche announces Core Browser Extension, add BTC support