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Avalanche Price Analysis: AVAX eyeing upper Bollinger band at $79

TL;DR Breakdown

  • Avalanche price analysis is bullish for today.
  • AVAX/USD retraced and found support at $66.5 yesterday.
  • Bulls start to push AVAX higher today again.

The price analysis for the Avalanche is bullish, as the market has established a new higher low and begun to move back towards its all-time high. As a result, we anticipate AVAX/USD to rise further over the next 24 hours and perhaps surpass the $75 previous all-time high.

Cryptocurrency heat map. Source: Coin360

Avalanche price movement in the last 24 hours: Avalanche sets higher low at $78

AVX/USD was relatively range-bound in the $74.55 – $78.67 region, with a trading olume of $733, 000.

AVAX/USD 4-hour chart: AVAX set to test the previous high today?

On the four-hour chart, bulls are starting to take control of the Avalanche price movement, suggesting that we may see further gains today.

AVAX/USD 4-hour chart. Source: TradingView

This week’s price action for Avalanche has been characterized by strong bullish momentum. Bulls began pushing the market higher following a new significant swing low of $33 set on September 7th.

AVAX initially broke the previous all-time high of $59 and peaked at roughly $65 last weekend. On Wednesday, after retracing to $66, the Avalanche price movement rallied towards new peaks.

The all-time high of $75 was finally achieved on the 18th of September. This price fluctuation occurred after another little retreat late yesterday. Bulls, on the other hand, have begun to push AVAX/USD higher again today, potentially suggesting further gains in the next 24 hours.

Avalanche Price Analysis: Conclusion

Today’s price action is favorable for an upward trend as a new higher low was established over the last 24 hours, and bullish momentum has returned today. As a result, we anticipate AVAX/USD to attempt to break the prior high later today.

While waiting for Avalanche to move further, read our articles on Wrapped Bitcoin, Decentralized Exchanges, as well as NFT Marketplace.

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.

This post was last modified on September 24, 2021 3:22 am

Arnold Kirimi

Arnold is a crypto and blockchain enthusiast. A communications expert with interest in hard-hitting journalism, he is always on the hunt for the latest events in the cryptocurrency world. He is inspired by what Bill Gates said, “Bitcoin is a technological tour de force.”

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