Avalanche price analysis: Bullish impulse drives AVAX price above $91 level

Avalanche price analysis Bullish impulse drives AVAX price above level

TL;DR Breakdown

  • Price has heightened up to $91.
  • Avalanche price analysis is bullish.
  • Support is retained at $89.

The latest Avalanche price analysis is showing signs of a bullish trend as the price has undergone a significant increase today as well. AVAX price capped at $89 yesterday, as it tested this resistance for the second time, and today the bullish upswing has resulted in a remarkable improvement in the price as its value has upgraded to $91.6, crossing over the said resistance. Although the price breakout was downwards at the start of today’s trading session, bulls managed to make a comeback and continue their lead. The price levels are expected to increase further in the coming hours.

AVAX/USD 1-day price chart: bullish momentum continues above $90 psychological mark

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 after bulls made a breakthrough above $89s. An uptrend was observed again recently as the price leveled up to $91.6 successfully. The moving average (MA) value for the 1-day AVAX/USD candlestick chart is at $91.2, just below the price level.

Avalanche price analysis: Bullish impulse drives AVAX price above $91 level 1
AVAX/USD 1-day price chart. Source: TradingView

The SMA 20 curve is traveling slower than the SMA 50 curve, which is due to the bearish trend for the past week. The Bollinger bands indicator is showing a shift in its values as well, as now the upper band is standing at $123.7, representing resistance, whereas the lower band is at $79.9, representing the strongest support for AVAX. The Relative Strength Index (RSI) score has moved up to index 43 due to the bullish activity that arose from 9th January.

Avalanche price analysis: Recent developments and further technical indications

The 4-hour Avalanche price analysis is dictating a substantial increase in price as the bulls have been leading the price function. A rise in coin value has been detected in the last four hours as well, and the price has recovered up to the $91.6 mark. The price has been advancing in a steady manner for the past few hours, as bulls took over again after a bearish correction late night. The moving average is trading below the price level at $87 for the 4-hour price chart.

Avalanche price analysis: Bullish impulse drives AVAX price above $91 level 2
AVAX/USD 4-hours price chart. Source: TradingView

The volatility has been mild; as can be observed, the Bollinger bands are maintaining almost the same distance, which means that the price movements might be hindered in the future. This has also resulted in the upper Bollinger band reaching $92.217 point and the lower Bollinger band touching $82.25 point. The RSI curve is now moving upwards as the score has been uplifted to index 56 as the buying activity caught pace recently.

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 since yesterday, and even today, the price jumped up to the $91.6 level. The bullish rally is to get stronger in the upcoming hours as both the hourly and daily predictions are going positive.

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.

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