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Avalanche price analysis: AVAX dips further to lows of $24.80

Avalanche price analysis
TL;DR Breakdown
  • Avalanche price analysis shows a decline in prices
  • AVAX prices are down by 7.66 percent
  • Support for AVAX price is seen at $23.0
image 23
Cryptocurrencies prices heat map, source: Coin360

Avalanche price analysis shows AVAX prices are still in a bearish market. Avalanche prices have continued to dip in recent days, falling to lows of $24.80. This latest decline marks a 7.66 percent drop from the coin’s previous price point. At the time of writing, AVAX prices are currently trading at $24.12. This is a slight rebound from the day’s lows but the coin is still down by over 7 percent.

The recent decline in prices has taken AVAX below the $26.00 level, which was previously acting as support. The current market conditions show that AVAX is still in a bearish trend. The next level of support for the coin is seen at $23.0. This is a key level to watch as a break below it could signal further declines.

AVAX/USD 1-day price movement: Bears mount more pressure

Avalanche price analysis indicates the prices have been trading at around $23 to $24 for the last few hours. Avalanche is currently ranked at 15 on CoinMarketCap Currently, the pair is trading at $24.04, which is near the day’s lows of $24.02. The price has been declining since the beginning of the day a. The current market conditions are bearish for Avalanche, as the prices have dipped below the $26 support level. The total trading volume for AVAX is $658,493,460.79 while the total market cap supply is $$6,760,087,118.56.

The technical indications are currently bearish for AVAX. The RSI indicator is trading in the oversold region, which indicates that prices may see a rebound in the near term. However, the MACD indicator is still in the bearish zone and is currently declining. This indicates that the bearish momentum is still strong and that prices could continue to fall in the near term.

image 21
AVAX/USD 1-day price chart, source: TradingView

The market conditions for AVAX are currently bearish. Prices have dipped below the $26 support level and the technical indicators are signaling further declines in prices. The Bollinger bands are currently widening, which indicates increased volatility in the market. The next level of support to watch out for is $23.0. A break below this could signal further declines in prices.

AVAX/USD 4-hour price analysis: Prices dip below the $26 support level

Avalanche prices have been declining in recent days and have dipped below the $26.00 support level. The current market is seen to experience a total sell-off. There is a possibility that prices may find some support around the $23.0 level.

image 22
iAVAX/USD 4-hour price chart, source: TradingView

The 4-hour chart for AVAX/USD shows that prices have been in a bearish trend since the beginning of the day. The price has declined below the $26.00 support level and is currently trading at $24.04.The bears seem to increase their grip on the market as the MACD indicator is currently in the bearish zone and is seen to be declining. The RSI indicator is also currently in the oversold region, which indicates that prices may see a rebound in the near term.

Avalanche price analysis conclusion

Avalanche price analysis concludes that the market conditions are currently bearish for AVAX. Prices have dipped below the $26 support level and the technical indicators are signaling further declines in prices. The bulls will be required to come in to defend the key support level of $23.0 to avoid further losses.

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.
Editah Patrick

Editah Patrick

Editah is a versatile fintech analyst with a deep understanding of blockchain domains. As much as technology fascinates her, she finds the intersection of both technology and finance mind-blowing. Her particular interest in digital wallets and blockchain aids her audience.

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