Avalanche price analysis appears to be following a strong bearish movement, with the price going down, expecting to reach new lows. In the last 48 hours, the price has fallen to a significant degree. On March 2, 2023, the price crashed from $17.7 to $17.2, showing significant positive momentum. The bear’s march doesn’t end here; today, on Match 3, 2023, the price has a minimum value of $15.9; however, the price has increased to a modest $16.4.
Avalanche price today is $16.45 with a 24-hour trading volume of $412.74M, a market cap of $4.95B, and a market dominance of 0.48%. The AVAX price decreased by 4.68% in the last 24 hours.
Avalanche reached its highest price on Nov 21, 2021, when it was trading at its all-time high of $146.18, while Avalanche’s lowest price was recorded on Dec 23, 2020, when it was trading at its all-time low of $2.79. The lowest price since its ATH was $10.61 (cycle low). The highest AVAX price since the last cycle low was $22.65 (cycle high). The Avalanche price prediction sentiment is currently bearish, while the Fear & Greed Index is showing 50 (Neutral).
Avalanche’s current circulating supply is 300.69M AVAX out of the max supply of 720.00M AVAX. The current yearly supply inflation rate is 22.04% meaning 54.30M AVAX were created in the last year. In terms of market cap, Avalanche is currently ranked #7 in the Proof-of-Stake Coins sector, ranked #1 in the Avalanche Network sector, and ranked #11 in the Layer 1 sector.
AVAX/USD 1-day analysis: Latest developments
Avalanche price analysis indicates market volatility following an increasing trend, which means AVAX/USD prices are increasingly prone to fluctuating volatility. The open price for AVAX is currently $16.52, with a high price of $16.52. Conversely, the low price of AVAX is present at $16.45 with a change of -0.38% and a close price of $16.45
The price of AVAX/USD appears to cross under the Moving Average curve, signifying a bearish movement. As a result, bears have been taking care of the market for the last few hours and will maintain their momentum. However, the price appears to show decreasing dynamics by moving towards the support; the trend might soon shift to a positive one instead if the bulls play their cards right.
The Relative Strength Index (RSI) is 38, which puts cryptocurrency in a slightly unstable state. However, we can trace the RSI following a downward path under the lower neutral region, indicating the dominance of selling activity. The price appears to enter the devalued extreme soon, if that happens, the trend is sure to be reversed.
Avalanche price analysis for 7-days
Avalanche price analysis shows market volatility following an inclining trend, indicating that the probability of AVAX/USD experiencing fluctuations increases. The high price of AVAX stands at $16.61, with an open price of $16.52. Conversely, the low price of AVAX is present at $16.45 with a change of -0.40% and a close price of $16.45.
The price of AVAX/USD appears to be crossing under the Moving Average curve, indicating a bearish move. However, the market’s direction may seem to shift to a negative one over the last few days. Bears have taken the market, which weakens the stance of the bulls. However, the AVAX/USD price attempts to cross the support, indicating a possible breakout in the market.
Avalanche price analysis reveals that the Relative Strength Index (RSI) is 44, indicating a stable cryptocurrency. Furthermore, the price appears to have found a downward spiral and anchored itself to that movement; however, the point lies in the central-neutral region, and the price will be forced to move against it sooner or later. The RSI follows a downward path exhibiting signs of the AVAX’s decreasing value, a movement toward negativity, and dominant selling activities.
Avalanche Price Analysis Conclusion
The conclusion of the Avalanche price analysis indicates that the cryptocurrency behavior suggests that it is following a completely bearish trend with massive reversal potential. The market has recently fallen under the bearish dominion and seems competent enough to maintain it. However, they have already engulfed the market, and the bulls are on the ropes right now but might take over by storm in the coming days if they take advantage of the possible breakout.