logo

Avalanche price analysis: Bullish momentum spikes at $11.82

Avalanche

TL;DR Breakdown

  • Avalanche price analysis shows a bullish trend today
  • Strong support for AVAX is present at $11.61
  • The resistance for AVAX/USD is found at $11.85

Avalanche price analysis shows that the AVAX/USD pair price has risen to $11.82 and is up 0.45 percent over the past 24 hours, giving a bullish signal. Following resistance around $11.85, which is projected to rise higher toward $12, and support at $11.61, the bulls have been in charge of the market from the start of today. Cryptocurrency’s market capitalization is at $3,682,191,012, and its 24-hour trading volume is $102,607,842. At the moment, the digital asset holds the 18th spot in the entire market.

Avalanche price analysis 1-day chart

The one-day Avalanche price analysis reveals that the price has dramatically climbed today as the bulls regained control. As of this writing, AVAX/USD is trading at $11.82. As bulls showed strong momentum today, Avalanche reported an increase in value of 0.45 percent over the previous 24 hours. AVAX also reports a significant boost of 0.87 percent in value over the previous week.

image 144
AVAX/USD 1-day price chart, Source: TradingView

The  50 MA is higher than the 100 MA, suggesting that the bulls are in charge of the market. This signals that the bulls are becoming more powerful and that prices will likely increase. The Relative Strength Index (RSI) score is now balancing itself at 52.50 after the rise in price, but as the price elevation is quite slow, the RSI is also trading at a horizontal line. The volatility is low, indicating that the market may not experience major price fluctuations. The upper band is at $20.9653, representing the strongest resistance, and the lower band is at $13.2179, representing the strongest support for the AVAX.

AVAX/USD 4-hour price chart: Latest development

The hourly price chart shows that it is also in favor of the bulls because the price had an upward breakout and the bulls displayed strong power to keep the levels above $11. The trend line for Avalanche price analysis on this chart also depicts the formation of bullish sentiment, and the AVAX is now trading at $11.82. On an hourly basis, the moving average is $14.3550, or slightly more than the current price.

image 145
AVAX/USD 4-hour price chart, Source: TradingView

The Bollinger Bands have expanded a bit, as the upper band is now at $16.096, and the lower band is at $12.6346. The bullish momentum has helped the relative strength index (RSI) maintain its slight upward curve as its score has moved up to 36.73.

Avalanche price analysis Conclusion

 Avalanche analysis shows that the market is in a strong uptrend as the bulls have shown their obviation and might take control of the market soon for the long term as the market shows great signs of any change. Both hourly chart and daily chart indicators show a bullish trend, which could see prices revive to the $11.82 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

Bitcoin sells at a 60% premium in Nigeria as the government shifts to a cashless policy
China's step towards cryptocurrency regulations
ChainLink price analysis: LINK bearish at $7
The Winning Trio for 2023: Flow (FLOW), EOS (EOS), Orbeon Protocol (ORBN)
Porter Stansberry's New Documentary Explains How Two Men Changed the US Economy

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