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Avalanche price analysis: Cryptocurrency value upgrades to $19.88 as bulls exhibit control

Avalanche price analysis
TL;DR Breakdown
  • Avalanche price analysis shows a bullish market sentiment
  • AVAX prices are facing resistance at $20.43
  • Key support for AVAX prices is seen at $18.50

Today’s Avalanche price analysis shows a complete bullish trend regaining momentum with additional room for bullish activities. AVAX/USD is currently trading at $19.88 and has been up 6.60% in the past 24 hours, with a trading volume of $338,903,632 with a live market cap of $5,860,873,096, ranking #15 on CoinMarketCap. The market capped yesterday in a crashing momentum and is opening today with hopeful bullish signs adding to yesterday’s crash below the $20.43 mark. In addition, the volatility remains dormant, giving the bulls less opportunity for a complete takeover.

AVAX/USD 4-hours analysis: Latest developments

Avalanche price analysis indicates market volatility following a slightly decreasing trend, which means that AVAX/USD prices are decreasingly prone to fluctuating volatility. The Bollinger’s band’s upper limit is $20.43, which acts as the strongest resistance point for AVAX. Conversely, the lower limit for the Bollinger’s band is available at $18.50, which serves as the strongest support point for AVAX.

image 76
AVAX/USD 4-hour price chart, Source: Tradingview

The price of AVAX/USD appears to cross over the Moving Average curve, signifying a bullish movement. As a result, bulls have just recently come into action and taken over the market by storm. However, their reign might not last long as the price movement appears to be positive upwards and has the potential to break the market’s resistance, indicating strong chances of a reversal movement.

The Relative Strength Index (RSI) is 57, which stabilizes cryptocurrency, entering the upper neutral region. However, we can trace the RSI following a downward path, indicating selling activity dominance and a decreasing market.

Avalanche Price Analysis for 1-day: Price shows bullish strength after returning to $19.88

Avalanche price analysis shows market volatility following a decreasing trend, indicating that the probability of AVAX/USD experiencing fluctuations decreases as the volatility fluctuates. The Bollinger band’s upper limit is $18.50, which acts as the most substantial resistance for AVAX. Conversely, the lower limit for the Bollinger band is at $18.50, serving as the strongest support point for AVAX.

image 75
AVAX/USD 1-day price chart, source: Tradingview

The price of AVAX/USD appears to be crossing over the Moving Average curve, indicating a bullish move. However, the market’s direction shifts towards an upward movement, showing increasing dynamics. Bulls have entirely taken over the market, weakening the bears’ stance. It appears the odds stack in favor of the bulls in every aspect.

The Relative Strength Index (RSI) is 49, indicating an undervalued cryptocurrency. Furthermore, the price appears to follow an upward path towards the inflation region, exhibiting signs of the cryptocurrencys’ increasing value and movement towards stability and intense buying activity.

Avalanche Price Analysis Conclusion

The conclusion of the 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 complete bullish dominion but exhibits signs of total stability from the bulls. The resistance for AVAX is $20.43, and the support is $18.50. and break above the $20.43 resistance, AVAX could aim for the $21.00 psychological level. On the downside, a break below the $18.50 support could result in a sell-off towards the $17.50 support level.

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.

joel

joel

Joel is a Blockchain enthusiast who has been active in the blockchain sector since 2016. He enjoys talking about blockchain and its implications for the future of humanity.He loves content and creating features on cryptocurrency.

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