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Avalanche price analysis: AVAX rocky towards $86

AVAX

TL;DR Breakdown

  • Avalanche price analysis is bearish today.
  • Strong resistance present at $114.
  • Avalanche trades for $86 as of now.

Today’s Avalanche price analysis shows signs of a bullish trend gaining momentum. AVAX/USD is currently trading at $86, down 3.31% in the past 24 hours, with a volume of $545,555,963. The market capped yesterday on an upwards momentum and is opening today with bearish signs adding to yesterday’s hike above the $85 mark. In addition, the volatility increases, giving the bears more opportunity to strengthen their hold.

Yesterday saw a significant increase in bullish volume, which has dissipated overnight, indicating that selling pressure for Avalanche remains relatively high. This increase in selling pressure has led to AVAX shrinking in value.

AVAX/USD 4-hours analysis: Latest developments

Avalanche price analysis indicates market volatility following a massive increasing trend, which means that AVAX/USD prices are increasingly prone to fluctuating volatility. The upper limit of the Bollinger’s band is at $95, which acts as the most substantial resistance for AVAX. Conversely, the lower limit for the Bollinger’s band is available at $84, which serves as the most vital support.

The price of AVAX/USD appears to cross under the Moving Average curve, indicating a bearish move. The bears have been taking care of the market for the last few hours, although the trend seems to have fluctuated to the bulls’ side quite a bit as well. However, the support and resistance bands open the cavity between them, indicating a massive volatile market with immense potential to shift on either side.

Avalanche price analysis: AVAX rocky towards $86 1
AVAX/USD 4-hour price chart source: Tradingview.com

The Relative Strength Index (RSI) is 40, which puts cryptocurrency in a stable category; it falls in the lower neutral region. Therefore, we can detect the RSI score to follow a complete linear direction that may indicate a constant value, and the selling activity is equivalent to the buying activity.

Avalanche Price Analysis for 1-day: Market enters bearish domain

Avalanche price analysis shows market volatility following an increasing trend, indicating that the probability of AVAX/USD experiencing fluctuations increases with the volatility. The upper limit of the Bollinger band is present at $114, which acts as the most substantial resistance for AVAX. Conversely, the lower limit for the Bollinger band is present at $79, which serves as the most vital support for AVAX.

The price of AVAX/USD appears to be crossing under the Moving Average curve, indicating a bearish move. However, the market’s direction may seem to be changing over the last few days. Bears have taken the market, which weakens the stance of the AVAX cryptocurrency. On the other hand, bulls, who had taken care of the market for so long, have grown tired and can’t resist the bearish pressure anymore.

Avalanche price analysis: AVAX rocky towards $86 2
AVAX/ISD 1-day price chart source: Tradingview.com

The Relative Strength Index (RSI) is 40, indicating a stable cryptocurrency. The price is not in the low price category or the over-bought category, and it fits in the lower neutral zone of the RSI. The RSI score follows a linear path pointing towards the equivalence of the selling activity and buying activities’ equivalence.

Avalanche Price Analysis Conclusion

The conclusion of the Avalanche price analysis indicates that the cryptocurrency behavior suggests that it is following a downwards trend with the potential to maintain it. The market has recently fallen under bearish dominion, they have the bulls worried, but they are already weary; it is unlikely they will strike back anytime soon.

Chart analysis shows bearish momentum and massive room for further bullish activity. Predictions lead us to believe that Avalanche might devalue further to the $70 mark range, but this depends on support volatility. If current support fluctuates, we may see a drop in current prices as far as $70, and this is highly probable as the bears clench their fists around the market.

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.

Narmin

Narmin

Narmin is a passionate fintech writer and blockchain enthusiast backed by extensive experience in psychology and statistics.

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