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Avalanche price analysis: Bearish spell degrades AVAX price to $11.32

Avalanche price analysis

TL;DR Breakdown

  • The latest Avalanche price analysis is going bearish
  • Cryptocurrency price has reduced up to $11.32
  • Support for AVAX is present at the $11.69 level

image 562
Cryptocurrency price heat map, Source: Coin360

The Avalanche price analysis shows that the cryptocurrency has undergone a loss today. After the bullish price function of yesterday, the bearish pressure has returned, and bears have taken the lead again. The bears have caused a decrease in the price up to $11.32 and have been able to retain their position as the leading party. The high selling activity is causing the price to downgrade further and has defeated the buyers in their attempt at revival. The overall cryptocurrency market is under bearish pressure as most coins are reporting losses today.

Avalanche price analysis: AVAX takes backward flight as bears lead

The 1-day price chart for Avalanche price analysis shows that a drop in the AVAX price value has taken place today. There have been some bullish efforts in the past week as well, as there are some green candlesticks visible as well. But the bears have been mostly at the lead throughout, and they are still succeeding in maintaining it as the price has gone down to $11.32 today after the recent drop.

image 560
AVAX/USD 1-day price chart. Source: Tradingview

The moving average line is also going downwards, which indicates that the bearish pressure on the cryptocurrency has been consistent throughout. Furthermore, the MACD line has been below the signal line, which indicates that bears are still in control. The Relative Strength Index has been mostly at the level of 37.98, which implies that AVAX is neither overbought nor oversold.

AVAX/USD 4-hour price chart: Avalanche price levels continue sinking

The 4-hour Avalanche price analysis shows that the price function is headed down once again as the price levels are continuously sinking. The bears are pulling down the price levels, and currently, they have reached the $11.32 level as AVAX/USD still looks for support.

image 561
AVAX/USD 4-hour price chart. Source: Tradingview

The moving average is still trading above the current price level at $11.54 because of the bullish efforts that followed yesterday. The short-term trending line is steeply downwards, which is a major bearish signal. The Moving average convergence divergences (MACD) line is also below the signal line, which implies that bears are still in control of AVAX/USD. The Relative Strength Index (RSI) is in the neutral zone at 43.87, which suggests that AVAX price analysis shows neither overbought nor oversold conditions.

Avalanche price analysis conclusion

To sum up, the Avalanche price analysis is under bearish pressure as the price levels keep falling. The price has moved down to $11.32 after the recent drop, and there are no signs of a reversal yet. The bullish efforts have not been able to break the bearish trend, as the support levels at $11.32 have not been breached yet.

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.
Editah Patrick

Editah Patrick

Editah is a versatile fintech analyst with a deep understanding of blockchain domains. As much as technology fascinates her, she finds the intersection of both technology and finance mind-blowing. Her particular interest in digital wallets and blockchain aids her audience.

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