After finding support at $17.85, the most recent Avalanche price analysis reveals that the trend is bullish for today. The cryptocurrency value has steadily decreased over the last few days as bears have dominated the charts, with yesterday’s loss being the most significant. But now we have seen a price increase, which is quite promising for the purchasers. As a result of the bulls finally finding support, the price has increased to the $18.16 level. Despite the price’s decline this week and the sharp reversal that was seen yesterday, today’s trend is once again optimistic.
AVAX/USD 1-day price chart: Price recovers to 18.15
The AVAX/USD pair is currently changing hands at $18.16 at the time of writing, according to the 1-day price chart for Avalanche price analysis, indicating that the price has been rising today. Due to the recent bearish momentum, AVAX/USD is still down 7.92 percent over the past 24 hours, while AVAX shows a loss of 13.67 percent for the past week. Over the previous day, the trade volume grew by 15.74 percent. Avalanche has a 0.56 percent market dominance as a result of the market cap’s ongoing 8.05 percent decline.
The moving average (MA) value in the one-day price chart is near the $20 level, and if bulls are unable to considerably raise the price level, a crossover between SMA 20 and SMA 50 is anticipated. The lower Bollinger band is contacting the $16.68 point, which provides support for the price, while the upper Bollinger band is touching the $22.48 point, which indicates resistance for the price. At the same time, the average of the Bollinger bands is still at $19.58. The Relative Strength Index (RSI), which is currently resting at 48, has a very tiny upward trajectory.
Avalanche price analysis: Recent developments and further technical indications
Given the price gain, the four-hour Avalanche price analysis indicates a bullish trend. Four hours after the price broke lower at the start of the trading day, the support materialized. Following the sharp loss of the previous trading session, the trend stayed bearish for the first four hours. Although the price has increased to $18.16 in the last four hours, a rising trend has been seen.
The Bollinger bands are expanding, signalling increased volatility. On the four-hour price chart, the top Bollinger band value is $21, while the lower Bollinger band value is $17.9. The RSI score is at index 32, which indicates recent buying activity, and is in the neutral zone on a steep upwards curve.
Avalanche price analysis conclusion
The market has been moving up for the day, according to the one-day and four-hour Avalanche price analysis. As a result of a price increase over the previous four hours, the price has increased significantly and is currently close to the $18.16 threshold. For today, we anticipate AVAX/USD to maintain its upward range coverage.