Avalanche price analysis: AVAX breaks above the $87.8 barrier as the price heightens to $91

Avalanche price analysis AVAX breaks above the barrier as the price heightens to

TL;DR Breakdown

  • Avalanche price analysis is bullish today.
  • The nearest resistance is found at $92.8.
  • The nearest support for AVAX is found at $87.8.

The Avalanche price analysis is bullish today, as the coin has broken above the $90 psychological mark countering the resistance present at the $87.8 level. Bulls have covered a good upwards range since yesterday as the AVAX price has come up from $78.6 to $91. The coin has marked a higher high as the bullish momentum is continuous, and now the bulls are aiming for the next resistance at $92.8. AVAX may feel some pressure at this point as it is a crucial resistance level.

AVAX/USD 1-day price chart: AVAX breaks above $90

The 1-day Avalanche price analysis shows the coin has broken above the $90 psychological mark as it is trading hands at $91.4 at the time of writing. The AVAX/USD pair reports a profit of 16.2 percent in price value over the last 24 hours, and also the weekly gain/loss has turned positive due to the bullish activity of the last two days, as now the coin is reporting an increase in value by 0.58 percent over the past week, which was negative till yesterday. The trading volume has also increased by 15.7 percent, and the market cap has been increased by 14.9 percent over the last day.

Avalanche price analysis: AVAX breaks above the $87.8 barrier as the price heightens to $91 1
AVAX/USD 1-day price chart. Source: TradingView

The AVAX shows comparatively high volatility as the Bollinger bands are expanded with the upper band present at the $125 level and the lower band present at the $71 level representing a support zone for AVAX/USD pair. The average line of the volatility indicator is trading at the $98 mark representing resistance for the coin.

The relative strength index (RSI) score is slowly increasing as the RSI is trading on an upwards slope, as the price is nearing a key resistance zone, so the price oscillation has slowed down a bit which is also proved by the RSI slope, which is getting mild with the time, however, the RSI is trading near the center of the neutral region at index 47.

Avalanche price analysis: Recent developments and further technical indications

The 4-hour Avalanche price analysis shows the coin has been rallying high since the last hours of the previous trading session and jumped from $79.6 to $87 during the last four hours of the said trading session. The coin is still continuing upside, but during the last few hours, the upwards movement has been slow due to the selling pressure near the $92 range.

Avalanche price analysis: AVAX breaks above the $87.8 barrier as the price heightens to $91 2
AVAX/USD 4-hours price chart. Source: TradingView

As the bulls are taking the price higher, the volatility has also started to increase as the Bollinger bands have started to diverge now, with the upper band reaching the $92.8 level representing resistance for the coin, and the lower band has reached the $75 level, the mean average of the indicator at the $84 represents support for AVAX. The moving average has also started to go up as it just crossed the Bollinger bands average. The RSI, after coming up, has taken a turn horizontally, indicating market pressure at index 63.

Avalanche price analysis: Conclusion

The Avalanche price analysis is on the bullish side, but the coin is under market pressure right now. If bulls succeed in getting more support, then there are bright chances for the AVAX to break above $92.8 resistance later today.

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.
Aamir Sheikh

Aamir Sheikh

Amir is a media, marketing and content professional working in the digital industry. A veteran in content production Amir is now an enthusiastic cryptocurrency proponent, analyst and writer.

Related News