logo

Avalanche price analysis: AVAX/USD regains bullish momentum spikes above $11.84

Avalanche

TL;DR Breakdown

  • Avalanche price analysis is bullish today
  • The strongest support is present at $11.28
  • The strongest resistance is present at $11.94

Avalanche price analysis shows an uptrend in the digital currency’s value over the past 24 hours. As of this writing, its value is at an all-time high, reaching above $11.84. The market is facing strong resistance at the $11.94 level. If the bulls can break through this level, we expect the price to continue rising toward the $11.94 and $11.96 resistance levels in the near term.

The level of $11.28 offers the strongest amount of support. In the immediate run, we anticipate that the price will drop into the $11.28 and $11.25 levels if the bears manage to push it below this level. The Digital asset has increased by nearly 4.44% in the last 24 hours and is currently trading at $11.84. The 24-hour trading volume for AVAX/USD pair is at $172 million, and the market cap is $3.6 billion.

Avalanche price analysis 1-day chart: Price rises to $11.84 on bullish momentum

The one-day Avalanche price analysis shows that the AVAX/USD has been trading within a range-bound area for the last few days. The market has formed lower highs and higher lows, forming an ascending triangle pattern. The bulls are attempting to break out of the triangle pattern and push the price above $11.84, while the bears are trying to defend it by pushing it back down.

image 57
AVAX/USD 1-day price chart, Source: TradingView

The RSI  for the AVAX/USD pair is currently at 52.50, indicating that the market is neither overbought nor oversold. Moreover, the MACD has also crossed into the bullish region, suggesting that a short-term uptrend is likely in the near future. Additionally, volatility is rising, which is positive news for buyers in terms of future price patterns. Similar to this, the Bollinger Bands indicator’s upper limit, which represents resistance, is currently resting at $20.9653, while its lower limit, which represents the strongest support, is resting at $13.2179.

AVAX/USD 4-hour price chart: Recent updates

The hourly Avalanche price analysis shows that the market has been trading in a bullish channel since the start of today. The bulls recovered control of the market and drove prices up to $11.84, where they are currently trading. The bulls and bears have been spotted battling for control of the market.

image 58
AVAX/USD 4-hour price chart, Source: TradingView

The MACD  for the AVAX/USD pair is currently in the bullish zone since the MACD line is above the signal line. The RSI for the pair has also been in the overbought area, indicating that buyers are currently in control of the market. The volatility in the market has also been increasing, which could be a sign of a potential breakout in the near future. The upper value of the Bollinger Bands indicator is now at $16.0936, while the lower value is at $12.6346 on the 4-hour charts.

Avalanche price analysis conclusion

In conclusion, we anticipate that if the bulls can sustain the current momentum, we could see the price of AVAX rise up to $11.84 in the near future. However, the bears could take control of the market and push prices down if they are able to break out of the current 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.

Related News

Hot Stories

Cardano price analysis: ADA falls to $0.3800 support, what is next for the crypto?
TRON Academy Sponsors Princeton Blockchain Club and Partners with TRON Climate Initiative
Is Solana Dead? SOL Resurrects at 114%
Filecoin price analysis: FIL shows bearish at $5.12 as selling pressure intensifies
Bitcoin sells at a 60% premium in Nigeria as the government shifts to a cashless policy

Follow Us

Industry News

Bitcoin sells at a 60% premium in Nigeria as the government shifts to a cashless policy
China's step towards cryptocurrency regulations
Read why Floki Inu supply is set to decrease by 4.2 trillion FLOKI tokens
Chinese central bank former exec explains why China is wary of crypto
Binance burns 16m worth of BNB tokens; transitions from the ERC20 version of BNB to BEP2

Add Your Heading Text Here