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Avalanche price analysis: AVAX loses value at $78.8

AVAX

TL;DR Breakdown

  • Avalanche price analysis is bearish today.
  • Strong resistance present at $96.
  • Avalanche trades for $78 as of now.

Today’s Avalanche price analysis shows a bearish trend gaining momentum with strong bearish possibilities. AVAX/USD is currently trading at $78, up 4.97% in the past 24 hours, with a trading volume of $929,998,681. The market capped yesterday in a crashing momentum and is opening today with hopeful bullish signs adding to yesterday’s crash below the $81 mark. In addition, the volatility increases, giving the bulls more opportunity for a tremendous comeback.

AVAX/USD 4-hours analysis: Latest developments

Avalanche price analysis indicates market volatility following a massive decreasing trend, which means that AVAX/USD prices are decreasingly prone to fluctuating volatility. The upper limit of the Bollinger’s band is at $92, which acts as the most substantial resistance for AVAX. Conversely, the lower limit for the Bollinger’s band is available at $78, which serves as the most vital support.

The price of AVAX/USD appears to cross under the Moving Average curve, signifying a bearish movement. However, bears have been taking care of the market for the last few hours and will maintain their momentum as the price moves towards support. The support might break in the coming days, causing a reversal.

Avalanche price analysis: AVAX loses value at $78.8 1
AVAX/USD 4-hour price chart source: TradingView

The Relative Strength Index (RSI) is 34, which puts cryptocurrency in an undervalued state. However, we can trace the RSI following a downwards path in the undervalued region, indicating the dominance of selling activity.

Avalanche Price Analysis for 1-day: Market closes

Avalanche price analysis shows market volatility following a declining trend, indicating that the probability of AVAX/USD experiencing fluctuations remains constant until the volatility fluctuates. The upper limit of the Bollinger band is present at $96, which acts as the most substantial resistance for AVAX. Conversely, the lower limit for the Bollinger band is present at $67, which serves as the strongest support point 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 remain consistent over the last few days. Bears have taken the market, which weakens the stance of the bulls. It appears the AVAX/USD price Moves towards support, making way for new opportunities in the market.

Avalanche price analysis: AVAX loses value at $78.8 2
AVAX/USD 1-day price chart source: TradingView

The Relative Strength Index (RSI) is 46, indicating a stable cryptocurrency. Furthermore, the price appears to follow a downward path in the undervalued region, exhibiting signs of the cryptocurrencys’ decreasing value and movement towards devaluation and intense selling activity.

Avalanche Price Analysis Conclusion

The conclusion of the Avalanche price analysis indicates that the cryptocurrency behavior suggests that it is following a bearish trend with massive bullish potential. The market has recently fallen under bearish dominion but seems not competent enough to maintain it. However, they are already weary; the bulls are on the solid foot right now and might take over by storm in the coming days.

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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