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Avalanche price analysis: AVAX gears to test $14.29 resistance as bullish momentum recharges

Avalanche

TL;DR Breakdown

  • Avalanche price analysis appears to be bullish
  • Support for AVAX/USD is present at $13.60
  • The resistance for AVAX/USD is present at $14.29

Avalanche price analysis confirms an increasing trend for cryptocurrency as the coin value has increased today. The price levels have increased again as bulls continue their lead after the correction that took place in the previous trading session, which resulted in a break upward for the price function. 

The coin value is $14.18 currently, after a further increase in the price level. Resistance for AVAX/USD pair is present at $14.29, while the support is located at $13.60.Over the last 24 hours, the value of digital currency has increased by about 3.65%. The trading volume of AVAX/USD has increased and is currently at $171,618,997, and the market capitalization of the cryptocurrency is $4,389,910,653.

AVAX/USD 1-day price chart: Bullish uptrend prepares to rally over $14.1

The one-day Avalanche price analysis confirms a strong bullish trend for today as the coin value has undergone a considerable improvement. At the beginning of the trading day, bulls pushed the price higher and are currently doing so as they cover the range to the upwards. The volatility is mild, and the price is trading above the volatility indicator’s uppermost limit. which indicates a relatively positive signal for the future.

image 88
AVAX/USD 1-day price chart, Source: TradingView

The Bollinger bands show the upper band at $20.9653, and the lower band at $13.2179, representing the strongest support for AVAX. The Relative Strength Index (RSI) for AVAX/USD  is moving upwards at index 61, and the curve shows the buying activity in the market. The moving average (MA) is trading at the $16.3097 level after crossing over the SMA 50 curve, which is a bullish crossover.

Avalanche price analysis on a 4-hour chart: Recent updates and further technical indicators

The 4-hour Avalanche price analysis reveals that AVAX  is still racing high as it has been on an upward trend for the previous 16 hours with no corrections noticed. At the beginning of the trading day, bulls pushed the price higher and are currently doing so as they cover the range to the upwards.

image 89
AVAX/USD 4-hour price chart, Source: TradingView

The Moving Average is currently trading at $14.355 which indicates a positive trend. The volatility is high, which indicates a relatively positive signal for the future. The Bollinger bands show the upper band at $16.093, representing the resistance for AVAX, and the lower band at $12.634, representing the strongest support for AVAX. The Relative Strength Index (RSI) is currently at the oversold levels, indicating that the buying pressure is getting stronger.

Avalanche price analysis conclusion

To conclude, the current upward trend in Avalanche price analysis is likely to persist in the near future, as it appears that buyers are determined to retake control of the market. The bullish current is expected to intensify in the upcoming hours as bulls aim for a $14.29 resistance 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.
Derrick Clinton

Derrick Clinton

Derrick is a freelance writer with an interest in blockchain and cryptocurrency. He works mostly on crypto projects' problems and solutions, offering a market outlook for investments. He applies his analytical talents to theses.

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