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Avalanche price analysis: AVAX set to break above $70.5

Avalanche price analysis

TL;DR Breakdown

  • Avalanche price analysis is bearish today.
  • Strong resistance is present at $84.6.
  • Avalanche trades for $70.5 as of now.

Today’s Avalanche price analysis shows a partial bearish trend regaining momentum with additional room for bullish activities. AVAX/USD is currently trading at $70.5 and has been up 2.41% in the past 24 hours, with a trading volume of $589,429,020 with a live market cap of $19,025,726,172, ranking #10 in the cryptocurrency rankings. The market capped yesterday in a crashing momentum and is opening today with hopeful bullish signs adding to yesterday’s crash below the $67 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 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 $73.8, which acts as the strongest resistance point for AVAX. Conversely, the lower limit for the Bollinger’s band is available at $67.3, which serves as the strongest 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 the potential to break the market’s resistance, indicating strong chances of a reversal movement.

Avalanche price analysis: AVAX shifts to a positive movement at $70.5 1
AVAX/USD 4-hour price chart source: TradingView

The Relative Strength Index (RSI) is 45, which puts cryptocurrency stable, entering the lower neutral region. However, we can trace the RSI following an upward path, indicating buying activity dominance and an increasing market. The increasing RSI score may also indicate future bullish potential as the price also points out an upwards movement.

Avalanche Price Analysis for 1-day: Market gains value

Avalanche price analysis shows market volatility following a decreasing trend, indicating that the probability of AVAX/USD experiencing fluctuations decreases as the volatility fluctuates. The upper limit of the Bollinger band is present at $84.6, which acts as the most substantial resistance for AVAX. Conversely, the lower limit for the Bollinger band is present at $68, 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 shifts towards a downward movement, showing depreciating dynamics. Bears have entirely taken over the market, which weakens the stance of the bulls. It appears the odds stack against the bulls in every aspect.

Avalanche price analysis: AVAX shifts to a positive movement at $70.5 2
AVAX/USD 1-day price chart source: TradingView

The Relative Strength Index (RSI) is 38, indicating an undervalued cryptocurrency. Furthermore, the price appears to follow an upward path towards the inflation region, exhibiting signs of the cryptocurrencys’ increasing value and movement towards stability 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 partial bearish trend with further bullish potential. The market has recently fallen under the complete bearish dominion but exhibits signs of total reversal from the bulls.

The RSI score suggests that an increment in value is inevitable in the coming days; the bulls are on the strong foot here and might engulf the whole market soon. We will have to wait and see what the market decides for Avalanche.

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.

William Suberg

William Suberg

William Suberg is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. William is a lover of sports.

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