Avalanche price analysis: AVAX regains bullish momentum at $102

AVAX

TL;DR Breakdown

  • Avalanche price analysis is bullish today.
  • Strong resistance is present at $103.
  • Avalanche trades for $102 as of now.

Today’s Avalanche price analysis shows a strong bullish trend regaining momentum with additional room for bullish activities. AVAX/USD is currently trading at $102 and has been up 8.84% in the past 24 hours, with a trading volume of $1,667,368,194. The market capped yesterday in a crashing momentum and is opening today with hopeful bullish signs adding to yesterday’s crash below the $98 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 slightly increasing trend, which means that AVAX/USD prices are increasingly prone to fluctuating volatility. The upper limit of the Bollinger’s band is present at $102.1, which acts as a support point for AVAX. Conversely, the lower limit for the Bollinger’s band is available at $91, which serves as another support point for AVAX.

The price of AVAX/USD appears to cross over the Moving Average curve, signifying a bullish movement. As a result, bulls 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 positive upwards and has broken the market’s resistance, indicating strong chances of a reversal movement.

Avalanche price analysis: AVAX regains bullish momentum at $102 1
AVAX/USD 4-hour price chart source: TradingView

The Relative Strength Index (RSI) is 62, which puts cryptocurrency slightly overvalued, entering the inflation region. However, we can trace the RSI following an upward path, indicating buying activity dominance and an increasing market.

Avalanche Price Analysis for 1-day: Market gains value

Avalanche price analysis shows market volatility following an increasing trend, indicating that the probability of AVAX/USD experiencing fluctuations increases as the volatility fluctuates. The upper limit of the Bollinger band is present at $103, which acts as the most substantial resistance for AVAX. Conversely, the lower limit for the Bollinger band is present at $69, 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 an upward movement, showing depreciating dynamics. Bulls have entirely taken over the market, which weakens the stance of the bears. It appears the odds stack against the bears in every aspect.

Avalanche price analysis: AVAX regains bullish momentum at $102 2
AVAX/USD 1-day price chart source: TradingView

The Relative Strength Index (RSI) is 70, indicating an overvalued cryptocurrency. Furthermore, the price appears to follow an upward path towards the inflation region, exhibiting signs of the cryptocurrencys’ increasing value and movement towards overvaluation and intense buying 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 further bullish potential. The market has recently fallen under the complete bullish dominion and exhibits signs of total domination from the bulls. The bulls are on the solid foot and have taken the bears out of the picture.

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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