Avalanche price analysis: Bullish drive launches price above $66.54 level

TL;DR Breakdown

  • Price has heightened up to $66.54.
  • Avalanche price analysis shows uptrend.
  • Support is retained at $53.5.

The latest Avalanche price analysis is showing signs of an upward trend as the price has undergone a significant increase in the last 24-hours. The bullish upswing has resulted in a remarkable improvement in the price as its value has upgraded to $66.54. Although the price experienced a downfall at certain points as well, overall the market has been ruled by the bulls. The price might surpass even higher levels in the approaching hours as well.

AVAX/USD 1-day price chart: Price bounces back to $66.54 as increasing trend follows

The cryptocurrency value has increased immensely during the last 24 hours as the bulls have been retaining their lead. The trending line is now moving ascendingly because of the constant rise in price that has been taking place for the past few weeks. An uptrend was observed today as well as the price leveled up to $66.64 successfully. The moving average (MA) for the one-day AVAX/USD candlestick chart is at $65.3.

Avalanche price analysis: Bullish drive launches price above $66.54 level 1
AVAX/USD 1-day price chart. Source: TradingView

The SMA 20 curve is traveling higher than the SMA 50 curve which is a further confirmation of the bullish trend. The Bollinger bands indicator is showing a shift in its values as well, as now the upper band is standing at $70.85 whereas the lower band is at $53.43. The Relative Strength Index (RSI) score has moved up to 57.

Avalanche price analysis: Upswing carries AVAX price above $66.52 threshold

The four hours Avalanche price analysis is dictating a substantial increase in price as the bulls have been leading. A rise in coin value has been detected in the last four hours as well, and the price has recovered up to the $66.524 mark. The price has been advancing in a steady manner for the past few hours, and it is expected that it will soon touch higher points. The moving average is still at a quite lower level i.e. $64.85 for the four hours price chart.

Avalanche price analysis: Bullish drive launches price above $66.54 level 2
AVAX/USD 4-hours price chart. Source: TradingView

An increase in volatility can be observed which means that the price movements might be hindered in the future. This has also resulted in the upper Bollinger band reaching $66.58 point and the lower Bollinger band touching $60.89 point. The RSI curve is now moving upwards as the score has been uplifted to 59.23.

Avalanche price analysis: Bullish drive launches price above $66.54 level 3
AVAX/USD technical indicators chart. Source: TradingView

A strong buying trend is being displayed by the technical indicators chart as the price covered high movements in the past weeks. There are 17 indicators standing on the buying mark. nine indicators on the neutral mark and zero indicators on the selling mark.

The Moving Averages Indicator is also confirming the record increase in price in the past few months. We can see 14 indicators settled on the buying position, one indicator is on the neutral position while no indicator is found on the selling position. The Oscillators are dictating a rise in price as well as there are eight oscillators on a neutral level, three oscillators on buying level, and zero oscillators on the selling level.

Avalanche price analysis conclusion

The Avalanche price analysis shows that an upward price movement has been recorded in the last 24 hours as the bullish momentum has been dominating the market. The price has been following a bullish trend for the past few weeks and even today the price jumped up to $65.3 point. The bullish rally is to get stronger in the upcoming days as both the hourly and daily predictions are going positive.

Disclaimer. The information provided is not trading advice. 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.

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