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Avalanche price analysis: AVAX price recovers to $17.9 as bulls continue to lead

Avalanche price analysis: AVAX price recovers to $17.9 as bulls continue to lead
TL;DR Breakdown
  • Avalanche price analysis indicates bullish signs today.
  • The resistance for AVAX/USD is found at $19.81.
  • The support for AVAX is present at $15.7.

The Avalanche price analysis is showing bullish results for the day as the price kept rising for the third day. The price has increased up to $17.9, continuing the uptrend that started on 19 June 2022. The present bullish momentum is slow, but bulls are showing steadiness in their progress, which means that the buyers are in the leading position. Some of the technical indicators have improved during the past three days, but the bearish pressure is still dominating the market as the bullish progress is not sufficient enough, and there are ample chances of a price fall in the coming days.

AVAX/USD 1-day price chart: AVAX price goes up to $17.9 gaining 2.28 percent

The 1-day Avalanche price analysis chart shows the candlesticks are moving in a bullish direction after a prolonged period of loss. The AVAX/USD price has recovered up to $17.9. The coin has gained a value of 2.28 percent over the last 24 hours and has gained a value of 10.22 percent over the past week due to bullish activity. The trading volume has slightly increased by 5.37 percent, and the market cap has increased by 3.21 percent over the past 24 hours resulting in the market dominance of 0.54 percent.

Avax 1 day 1
AVAX/USD 1-day price chart. Source: TradingView

The volatility has been high, which is why the upper Bollinger band value is at $27.8, representing the strongest resistance level, and the lower Bollinger band value is at $12.5, representing support for AVAX. The Relative Strength Index (RSI) score is going up as well because of the increase in price, and the indicator is giving a reading of index 38 in the lower half of the neutral zone. The moving average (MA) is trading at the $16.5 mark below the current price.

Avalanche price analysis: Recent developments and further technical indications

The 4-hour Avalanche price analysis is also showing bullish signs as the price has gone up to reach the $17.9 level, despite the fact that the price breakout was downwards at the start of the trading session. There has been a continuous increase in the price during the previous eight hours, and yet the price is covering the upward movement at present. The price is far above the moving average value, i.e., $16.9, and is now headed towards the upper limit of the volatility indicator. The volatility has been high for this time period as the price has been increasing today.

avax 4 hour 1
AVAX/USD 4-hours price chart. Source: TradingView

The upper Bollinger band is now at $18.2, whereas the lower Bollinger band is situated at the $13.4 level, and if the up trend continues, then soon the price will travel above the upper band. The RSI score is moving towards the overbought region as well and is trading at index 62. The upwards curve of the indicator hints at the buying activity in the market.

Avalanche price analysis: Conclusion

The 1-day and the 4-hour Avalanche price analysis shows that the AVAX price has increased during the last few hours, and the price movement has been upwards for the last four hours as well. The cryptocurrency price has recovered up to $17.9, and there has been a constant uptrend for the last three days. If the RSI, as seen on the 4-hour chart, continues to travel up and enters the overbought region, then it can give a sell call.

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.
Aamir Sheikh

Aamir Sheikh

Amir is a media, marketing and content professional working in the digital industry. A veteran in content production Amir is now an enthusiastic cryptocurrency proponent, analyst and writer.

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