Avalanche price analysis: AVAX increases at $18.02 after a complete bullish run

Avalanche price analysis

TL;DR Breakdown

  • The price has reached the $18.05 position
  • The resistance level for AVAX/USD is present at $18.37
  • Support levels are strengthened at $16.88

Avalanche price analysis is on the rise once again, with the price reaching over $18.37 in recent days. An uptrend has been following quite consistently and the price has been traveling in the upward direction quite steadily. Even today, an increase in price has been detected because of the bullish momentum. The price is now at the $18.02 level and is expected to move higher in the upcoming days.

The AVAX/USD pair is facing strong support levels at $16.88, which has been holding strong for several weeks now. In order to keep moving higher and continue the uptrend, the price will need to hold steady above this level. Resistance to the price can be found at $18.37, which could act as a ceiling for the price if it climbs too high.

Avalanche price analysis 1-day chart: AVAX price glides smoothly toward its next target

The one-day Avalanche price analysis is indicating that an uptrend has been at its peak for the past two days. An improvement in price has been recorded in the last 24 hours as well as the price successfully reached the $18.02 position. Although the price fell abruptly in the previous week, the bullish momentum has been restored back once again. The price has moved beyond the moving average (MA) value at $16.90 as well.

image 462
AVAX/USD 1-day price chart. Source: TradingView

The volatility has decreased which means that the price might go even higher than its current levels. The Bollinger bands Indicator in the one-day price chart are indicating the following values; the upper value is $19.51 while the lower value is $9.99. The Relative Strength Index (RSI) score is near the overbought mark as well and is at 70.79.

Avalanche price analysis: AVAX experiences an uptrend at $18.02 after a bullish return

The hourly Avalanche price analysis has headed down once again as the Bulls made an ascend in the last four hours. The AVAX/USD value increased to $18.02 after the green candlesticks reappeared on the price chart. The market has made a bullish return after the price went down drastically and the bulls entered back into the market. The price is still above the moving average value i.e. $17.39 which is a positive sign.

image 463
AVAX/USD 4-hour price chart. Source: TradingView

The Bollinger bands indicator is maintaining its average value at the $16.90 level. Whereas the upper extreme of the Bollinger bands is at $18.24 and the lower extreme is at $15.56. The RSI score increased to 60.41, indicating that the price is likely to move higher in the near future.

Avalanche price analysis conclusion

The one-day and four hours Avalanche price analysis shows that the price has managed to escape the $18.02 barrier as well. It is expected that the uptrend will continue to heighten in the upcoming week as well. If the support does not go lower than the $16.88 level, we can expect the price to move higher with ease.

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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