Ethereum
$ 1,062.46 1.88%
Solana
$ 32.97 0.67%
Dogecoin
$ 0.065815 2.24%
ApeCoin
$ 4.58 2.78%
Bitcoin
$ 19,123.70 0.46%
BNB
$ 218.33 0.47%

Avalanche price analysis: AVAX/USD will break above $70 soon

Avalanche price analysis 3 768x384 1
TL;DR Breakdown
  • Avalanche price analysis shows a bearish trend
  • Closest resistance at $40.
  • Support for AVAX is present at $23.55

Avalanche price analysis has shown a bearish trend recently. The market has been in consolidation for some time now after a strong rally towards $40. There is a descending triangle pattern that is being formed on the 4-hour chart. This pattern will be complete when the price breaks below the lower trendline. The breakout level is around $23.55 and if the price breaks below this level, it can further decline to $16.80. On the other hand, if the price breaks above the upper trendline of the descending triangle pattern, it can move towards $70.

Avalanche (AVAX) has been one of the best-performing altcoins in the market over the past few weeks. The coin surged from $5 to $40 in a matter of weeks and is currently consolidating below this level. The 4-hour chart shows that the price has formed a descending triangle pattern, which is a bearish reversal pattern.

The triangle pattern will be complete when the price breaks below the lower trendline, which is around $23.55. If the price breaks below this level, it can further decline to $16.80. On the other hand, if the price breaks above the upper trendline of the descending triangle pattern, it can move towards $40.

The RSI is currently near the 50 level and is showing no signs of a breakout in either direction. The MACD is also close to the center line and is not giving any clear trading signals.

AVAX/USD 1-day price analysis: Bullish reversal possibilities

Avalanche price analysis shows that the market is currently in a consolidation phase and it is difficult to predict which way the price will break out. Traders should wait for a clear breakout before entering any positions.

image 181AVAX/USD 1-day price chart, source: TradingView

The 1-day Avalanche price analysis chart shows that the market has been in a consolidation phase for the past few days. The price is currently trading between the $23.55 and $40 levels. The RSI is close to the 50 level, which indicates that the market is currently neutral. The MACD is also close to the center line and is not giving any clear trading signals.

Avalanche price analysis on a 4-hour price chart: Recent price developments

The 4-hour Avalanche price chart shows that the market has been in a consolidation phase for the past few days. The price is currently trading between the $23.55 and $40 levels. The RSI is close to the 50 level, which indicates that the market is currently neutral. The MACD is also close to the center line and is not giving any clear trading signals.

image 180

AVAX/USD 4-hour price chart, source: TradingView

The market Avalanche price analysis on the 4-hour time frame shows that the market is currently in a consolidation phase. The market has been trading between the $23.55 and $40 levels for the past few days. The RSI is close to the 50 level, which indicates that the market is currently neutral.

Avalanche price analysis conclusion

The market is bearish and is likely to break below the $23.55 level soon. If the price breaks below this level, it can further decline to $16.80. On the other hand, if the price breaks above the upper trendline of the descending triangle pattern, it can move towards $40.

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.

Related News

Hot Stories

Cardano price analysis: ADA/USD set to break above intraday highs of $0.456
Dogecoin price analysis: DOGE ends retrace at $0.068, ready to drop further?
“Bitcoin Is Dead” Rant Is Spreading Online. How Did It Begin, And What It Means For Gnox (GNOX), Bitcoin (BTC) And Solana (SOL) Investors
CFTC drags South African to court over $1.7 billion scam
Uniswap price analysis: Bearish candlesticks stretch out on the price chart denoting loss up to $4.84

Follow Us

Industry News

Three Arrows files for Chapter 15 bankruptcy in New York
KuCoin boss denies halting withdrawals
Crypto plunges to its worst in 11 years
CoinFlex CEO announces a shift in withdrawal date
Three Arrows could be liquidated due to the crypto market's bearish streak