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Avalanche price analysis: AVAX spikes to $18.74 after a bullish trend

Avalanche price analysis
TL;DR Breakdown
  • Avalanche price analysis shows a bullish market sentiment
  • AVAX prices are facing resistance at $18.84
  • Key support for AVAX prices is seen at $16.73

Avalanche price analysis reveals a relatively bullish market sentiment in the near term. The digital asset has surged by over 6% in the last 24 hours and is trading around $18.74 at press time. Avalanche price analysis over the last 24 hours shows a bullish market trend. The digital asset opened the trading session at $17.65 and surged to an intraday high of $18.84 before correcting lower.

The digital asset is facing imminent resistance at the $18.84 level. However, a strong bullish momentum could see the digital asset surge past this level and soon target the $20.00 level. On the downside, key support levels for AVAX prices are seen at $16.73, and a break below this level could see the digital asset retrace lower towards the $15.00 support level.

Avalanche price movement in the last 24 hours: Firm bullish sentiment forms

The daily price chart for Avalanche price analysis reveals a strong bullish trend in the market. The 24-hour trading volume for the digital asset has surged by over 71% and is currently trading at $642 million. The market capitalization for the digital asset has also surged by around 6% and is currently trading at $5.28 billion.

image 52
AVAX/USD 1-day price chart, source: TradingView

The RSI indicator on the daily chart reveals a bullish trend as it surges past the 50 levels and is currently trading at 62. The MACD indicator is also in the bullish territory as the signal line crosses above the histogram. The upper Bollinger Band is seen at $20.00, and the lower Bollinger Band is seen at $15.97.

Avalanche price analysis on a 4-hour chart: Bullish run in the play

The 4-hour price chart for Avalanche price analysis reveals a bullish market trend in the near term as prices surged past the $18.00 level and are currently facing resistance at the $18.84 level. The RSI indicator on the 4-hour chart is seen surging higher and is currently trading at 66. The MACD indicator is also in bullish territory, and a further surge in buying momentum could see prices target the $20.00 level soon and the Bollinger Bands are seen expanding.

image 51
AVAX/USD 4-hour price chart, Source: TradingView

Avalanche price analysis conclusion

To conclude, Avalanche price analysis indicates that the cryptocurrency behavior suggests that it is following a complete bullish trend with further bullish potential. Fortunately, the market has recently fallen under the complete bullish dominion but exhibits signs of total stability from the bulls. The price has moved higher as bulls attempt to target the $20.00 level. The 24-hour and 4-hour technical indicators all suggest further gains in the market.

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.

John Palmer

John Palmer

John Paul is an enthusiastic crypto writer with an interest in Bitcoin, Blockchain, and technical analysis. With a focus on daily market analysis, his research helps traders and investors alike. His particular interest in digital wallets and blockchain aids his audience.

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