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Avalanche price analysis: Bearish clouds fade as AVAX/USD prices near $17.86

Avalanche price analysis

TL;DR Breakdown

  • Avalanche price analysis shows a downtrend
  • AVAX prices have sought support at $17.71
  • AVAX/USD faces rejection at $19.15

Avalanche price analysis is in favor of bears for today; the price has been decreasing for the past 24-hours, and it is currently facing strong rejection at the $19.15 level. However, support is still present at $17.71, providing a buffer for any potential downward movements. Despite this bearish trend, there are also signs of bullish momentum building as AVAX/USD approaches the $17.86 mark. This could potentially lead to a breakout and push prices higher in the near future.

AVAX/USD 1-day price analysis: Avalanche price consolidates around $17.86

The 1-day Avalanche price analysis report confirms a bearish price movement for today, as the price has decreased up to $17.86. The decrease in price value is substantial as the coin lost 7.07 percent value during the last 24 hours, with a market cap of $5,315,475,170, and a 24-hour trading volume of $246,399,582. The price has come down to the $17.86 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.

image 20
AVAX/USD 1-day price chart. Source: Tradingview

The upper limit of Bollinger’s band exists at $19.15 while the lower limit is at $17.71. The Relative Strength Strength Index Index (RSI) is currently at 53.51, which indicates that the market is in the oversold region. This means that there is a higher probability of prices rising as the sellers have exhausted themselves. The MACD shows a bearish crossover as the signal line has moved below the histogram. This indicates that the market momentum is shifting from bullish to bearish.

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 $17.86 level. The price has dropped significantly as the bears are gaining strength.

image 21
AVAX/USD 4-hours price chart. Source: Tradingview

In the 4-hours price chart, The digital asset is trading below the moving average convergence divergence (MACD) line, which indicates that the market is in a bearish phase. The RSI for the AVAX/USD pair is at 56.09 and is currently in a bearish trend. This means that there is a higher probability of prices rising as the sellers have exhausted themselves. The upper Bollinger band value has now moved to $19.59, whereas the lower Bollinger band value moved down to $17.70.

Avalanche price analysis conclusion

Avalanche price analysis reveals that the market is currently in a bearish trend on a 24-hour timeframe and on a 4-hour chart. The market volatility is also decreasing, which indicates that prices are subject to fewer fluctuations The market indicators are pointing to further downside momentum in the near term as the bearish winds continue to blow. Investors remain cautious about the current economic conditions. Prices will continue falling if the selling pressure persists.

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 Oluwatobi

Joel Oluwatobi

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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