Avalanche price analysis: AVAX begins to lose value at $94.2

AVAX

TL;DR Breakdown

  • Avalanche price analysis is bullish today.
  • Strong resistance is present at $101.
  • Avalanche trades for $94.2 as of now.

Today’s Avalanche price analysis shows an uncertain bullish trend losing momentum with strong bearish possibilities. AVAX/USD is currently trading at $94 and has been down 5.11% in the past 24 hours, with a trading volume of $2,024,656,052. The market capped yesterday in a crashing momentum and is opening today with hopeful bullish signs adding to yesterday’s crash below the $95 mark. In addition, the volatility remains dormant, giving the bulls less opportunity for a complete takeover.

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 present at $99, which acts as the most substantial resistance for AVAX. Conversely, the lower limit for the Bollinger’s band is available at $90, which serves as the most vital support.

The price of AVAX/USD appears to cross under the Moving Average curve, signifying a bearish movement. As a result, bears have just recently come into action and taken over the market by storm. However, their reign might not last long as the price movement appears to be positively upwards and will cross the moving average curve soon, making the trend bullish again.

Avalanche price analysis: AVAX begins to lose value at $94.2 1
AVAX/USD 4-hour price chart source: TradingView

The Relative Strength Index (RSI) is 50, which puts cryptocurrency in a stable state, falling in the central neutral region. However, we can trace the RSI following a linear path in the stable area, indicating the equivalence of selling and buying activity and showing a stable market.

Avalanche Price Analysis for 1-day: Market loses value

Avalanche price analysis shows market volatility following a declining trend, indicating that the probability of AVAX/USD experiencing fluctuations declines as the volatility fluctuates. The upper limit of the Bollinger band is present at $101, 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 over the Moving Average curve, indicating a bullish move. However, the market’s direction shifts towards a downward movement, showing depreciating dynamics. Bears might take the market soon, which weakens the stance of the bulls. It appears the odds stack against the bulls in every aspect. However, the bulls will not be trounced.

Avalanche price analysis: AVAX begins to lose value at $94.2 2
AVAX/USD 1-day price chart source: TradingView

The Relative Strength Index (RSI) is 61, indicating a slightly overvalued cryptocurrency. Furthermore, the price appears to follow a downward path towards the stable region, exhibiting signs of the cryptocurrencys’ decreasing value and movement towards regular dynamics 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 bullish trend with bearish potential. The market has recently fallen under partial bearish dominion but seems not competent enough to maintain it. However, they are already weary; the bulls are on the solid foot and might take the bears out of the picture soon.

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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