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Avalanche price analysis: AVAX starts increasing at $10.9

Avalanche price analysis: AVAX starts increasing at $10.9

TL;DR Breakdown

  • Avalanche price analysis is bearish today.
  • The strongest resistance is present at $22.2.
  • The strongest support is present at $10.3.

Avalanche price analysis is bearish today, and the price of AVAX today is $10.97 with a 24-hour trading volume of $135.60M, a market cap of $3.30B, and a market dominance of 0.40%. The AVAX price increased by 1.73% in the last 24 hours. The market capped yesterday in a crashing momentum and is opening today with hopeful bullish signs adding to yesterday’s spike above the $10.6 mark. In addition, the volatility decreases, giving the bulls more opportunity for a tremendous comeback.

Avalanche reached its highest price on Nov 21, 2021, when it was trading at its all-time high of $146.18. The lowest price since its ATH was $10.61 (cycle low). The highest AVAX price since the last cycle low was $11.05 (cycle high). The Avalanche price prediction sentiment is currently bearish.

AVAX/USD 1-day analysis: Latest developments

Avalanche price analysis indicates market volatility following a decreasing trend, which means AVAX/USD prices are decreasingly prone to fluctuating volatility. The open price for AVAX is currently $11, with a high price of $11. Conversely, the low price of AVAX is present at $10.97 with a change of -0.37% and a close price of $10.97

The price of AVAX/USD appears to cross under the Moving Average curve, signifying a bearish movement. As a result, bears have been taking care of the market for the last few hours and will maintain their momentum. However, the price appears to show increasing dynamics by moving towards the resistance; the trend might soon shift to a positive one instead if the bulls play their cards right.

image 627
AVAX/USD 1-day price chart Source: CoinCodex

The Relative Strength Index (RSI) is 32, which puts cryptocurrency in an unstable state. However, we can trace the RSI following an upward path toward the lower neutral region, indicating the dominance of buying activity. If the RSI decides to move further towards a dominant buying activity era, a reversal movement will become inevitable, and the bulls will have their chance at glory once again.

Avalanche price analysis for 7-days

Avalanche price analysis shows market volatility following a declining trend, indicating that the probability of AVAX/USD experiencing fluctuations decreases. The high price of AVAX stands at $11.04, with an open price of $10.94. Conversely, the low price f AVAX is present at $10.94 with a change of 0.11% and a close price of $10.96.

The price of AVAX/USD appears to be crossing under the Moving Average curve, indicating a bearish move. However, the market’s direction may seem to remain consistent over the last few days. Bulls have taken the market, which weakens the stance of the bears. However, the AVAX/USD price attempts to cross the moving average, indicating a possible breakout in the market. This may cause an imbalance in power in the cryptocurrency market.

image 626
AVAX/UAS 7-day price chart Source: CoinCodex

Avalanche price analysis reveals that the Relative Strength Index (RSI) is 32, indicating an unstable cryptocurrency. Furthermore, the price appears to have found a stable point and anchored itself to that point; however, the point lies in the lower-neutral region, and the price will be forced to move from it sooner or later. The RSI follows a linear path exhibiting signs of the AVAX’s stable value, a movement towards stability, and equivalent buying and selling activities.

Avalanche Price Analysis Conclusion

The conclusion of the Avalanche price analysis indicates that the cryptocurrency behavior suggests that it is following a partial bearish trend with massive reversal potential. The market has recently fallen under bearish dominion but seems not competent enough to maintain it. However, they have already engulfed the market, and the bulls are on the ropes right now but might take over by storm in the coming days if they take advantage of the breakout.

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.

Narmin

Narmin

Narmin is a passionate fintech writer and blockchain enthusiast backed by extensive experience in psychology and statistics.

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