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Avalanche Price Analysis: AVAX/USD is bullish for the next 24 hours

Chainlink Price Analysis

TL;DR Breakdown

  • Avalanche price analysis is bullish today.
  • The closest support level lies at $75.00
  • AVAX faces resistance at the $82.00 mark

After plummeting to the $75.00 level, buyers discovered a strong support level to start a rebound. AVAX has bounced back above $80, but it will face resistance at $82 due to continuing selling pressure.

With the trading volume still being high, it might be possible that AVAX faces further selling pressure if there are no market fluctuations. The price is expected to continue its rebound towards the $84.00 level but will likely face resistance at around $80-$85.

Avalanche price movement in the last 24 hours: Bulls fight back as $75 support holds

Long-term, AVAX has experienced a significant drop and is now trading at a significantly lower price than its all-time high. The current market conditions might provide an opportunity for buyers to accumulate at these levels.

Avalanche price analysis suggests that the token will see movement upwards in the short term, with the closest support level lying at $75.00. AVAX faces resistance at the $82.00 mark, the next resistance level above the current price level at $80. The token also faces a significant amount of selling pressure from traders, which could continue to push prices lower if there are no market fluctuations. It might be possible that AVAX faces further selling pressure if there are no market fluctuations or if there are no fluctuations in the market.

The price is expected to continue its rebound towards the $84.00 level but will likely face resistance at around $80-85.

What to expect from the Avalanche price analysis?

Avalanche Price Analysis: AVAX/USD is bullish for the next 24 hours 1
4-hour price chart by Tradingview

The Avalanche price analysis shows that while the buyers seem to have taken control of the markets, the selling pressure still weighs on the price. The bulls are currently trying to rally to recover to $4.50 but face strong resistance from the sellers at $4.20.

Currently, traders should expect the Avalanche price analysis to move towards the $84.00 mark as the market shows a turnover of momentum from the bears to the bulls. Similarly, while the mid-term technical analyses support the bears, the mid-term technicals are yet to react to the recent AVAX movements.

Overall, the 4-hour Avalanche price analysis gives a strong sell signal, with 15 of the 26 major technical indicators supporting the bears. Only one of the indicators supports the bulls, indicating that there is no significant buying activity in the markets at this time. The remaining ten indicators are on the fence and issue no signals right now.

The 24-hour Avalanche price analysis endorses this logic and reveals 11 signals in favor of continued declines versus six that support an increase in the mid-term charts. The bearish dominance over AVAX is reaffirmed. At the same time, nine signs do not support either side of the market.

Avalanche Price Analysis: Conclusion

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.

Sergio Goschenko

Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved.

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