Avalanche price analysis: Bulls prepare to surmount $16.24 barrier

Avalanche price analysis

TL;DR Breakdown

  • The latest Avalanche price analysis chart shows an increase in the price
  • Price on its way to recovery above $15.76
  • Strong support is available at $14.89

The Avalanche price analysis is indicating that the AVAX/USD value is on the rise again. The recovery has been considered as the price has improved up to $15.76 today. The short-term trending line is moving upwards, as the past few hours have seen several successful attempts from the bulls. The past week had undergone a major loss as well, after which the bulls took charge once again to make up for the losses.

AVAX/USD 1-day price chart: High hopes for AVAX as bulls retrieve the $15.76 position again

The 1-day Avalanche price analysis is indicating that a rise in the price has taken place today which has increased its value up to $15.76. This has been unexpected as the past few days have been extremely crucial for the AVAX price value.

image 249
AVAX/USD 1-day price chart. Source: TradingView

Today the price has undergone significant recovery as the bulls are regaining strength. The 1-day price chart is showing the moving average (MA) value at $13.26 and the Bollinger bands average at $12.19.

The SMA 20 curve is rising high as well as there has been an increase in the price today. Meanwhile, the Bollinger bands are showing the exact values; the upper band is at the $15.28 value while the lower band is at the $9.11 value. The Relative Strength Index (RSI) score has improved as well it is now on the way to climbing above its current position i.e. 52.60.

Avalanche price analysis: Bulls gather sufficient momentum to sail past the $16.24 resistance

The 4-hour Avalanche price analysis is indicating that the AVAX value has undergone considerable improvement in the last four hours. The price levels are going high day by day and now they have reached the $14.89 position

image 250
AVAX/USD 4-hour price chart. Source: TradingView

The moving average is at $15.43 and is standing at a lower position because of the recent bullish uptrends. The volatility is on the decreasing side, which might be a positive indication for cryptocurrency’s future.

The average of Bollinger bands is maintained at $14.11 currently while their upper value is at $17.01 and the lower value is at $11.22. The RSI curve is showing some upward movement but is hovering almost straight, showing a score of 76.61.

Avalanche price analysis conclusion

To sum up, Avalanche price analysis proves that the bulls are making efforts to go back to their former height. The ongoing fluctuations have resulted in the bulls at the lead, as the price has increased today to $15.76. The trending line is supportive for the bulls and there is a strong possibility that it will continue traveling in an upwards direction. The support at $14.89 is quite strong and is giving an edge to the bulls.

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.
John Palmer

John Palmer

John Paul is an enthusiastic crypto writer with an interest in Bitcoin, Blockchain, and technical analysis. With a focus on daily market analysis, his research helps traders and investors alike. His particular interest in digital wallets and blockchain aids his audience.

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