The Avalanche price analysis is in favor of bears for today; the price has been decreasing for the past few days, and the trend line is downwards as the bears have been successful in maintaining their lead. A downtrend has been observed today as well, as the price has come down to the $22.6 level as the coin is continuously getting negative sentiment from the market. It is also expected that the price function may remain bearish in the upcoming hours as well.
AVAX/USD 1-day price chart: Bears continue defining the price curve
The 1-day Avalanche price analysis report confirms a bearish price movement for today, as the price has decreased up to $22.6. The decrease in price value is substantial as the coin lost 9.68 percent value during the last 24 hours, and the cryptocurrency also shows a huge loss of 22.62 percent over the past week as the bears have been in the driving seat. The price has been experiencing a fall for the past few weeks, with bullish interruptions as well. The bears have been able to bring the price down again in the last 24 hours after gaining momentum. The price has also been trading below the moving average (MA) value as well which is at $27.9.
The volatility is decreased as the Bollinger bands converge; however, the cryptocurrency is still quite volatile. The upper Bollinger band value has now moved to $45.7, whereas the lower Bollinger band value moved down to $19.1, representing support for the coin. The Relative Strength Index (RSI) score has undergone a reduction drastically, as it has stepped into the underbought region at index 26, and its curve is downwards, hinting at the selling activity in the market.
Avalanche price analysis: Recent developments and further technical indications
The 4-hours Avalanche price analysis is declaring the bearish supremacy as the price has been covering a range downwards from the start of the trading session and even in the last four hours, after getting a breakout downwards today. In the past few hours, a downward trend has been observed as the price has moved down to the $22.6 level. The price has dropped significantly as the bears are gaining strength. In the 4-hours price chart, the moving average is trading at $24.2, above the price level.
The Bollinger bands show divergence on the 4-hour chart, and the increase in volatility has changed the upper band’s value to $31.1, and the lower band’s value has come down to $22,2. The RSI level has decreased to index 24 because of the selling activity observed since yesterday.
Avalanche price analysis conclusion
The Avalanche price analysis report is in favor of the bears at the time of writing. Most of the technical indications are also bearish, and price momentum is downwards right now. The RSI curve has also entered the bearish zone. Today’s trend is strongly bearish, and a further decrease in the coin’s price levels is also expected in the coming hours.
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