Avalanche price analysis: AVAX/USD can potentially break lower than $15


TL;DR Breakdown

  • Avalanche price analysis is bearish today
  • The entire crypto market has a negative sentiment
  • Avalanche has faced resistance at $17 and support around $15
  • The next major support for Avalanche is set at $14
  • Avalanche can potentially dip further in the next few hours
  • Due to the uncertainty in the market, this is not a good time to buy Avalanche

Avalanche price analysis has a very heavily bearish sentiment today after staying bullish for three days straight between 12th and 14th March, 2023. However, it is yet to retest the major resistance around $21 which it touched on 21st February 2023.

Crypto heat map
Cryptocurrency heat map by Coin360

The overall state of the cryptocurrency market can be estimated from the crypto heat map above. All the coins can be seen in the red zone with Ethereum marking a decrease of 2.43 percent. At the same time, Bitcoin has decreased by around 0.67 percent.

1-day Avalanche price analysis
Avalanche Chart by TradingView

The RSI on the 1-day Avalanche price analysis looks quite balanced. Hence, there is no chance of market correction in the next few hours. The market is leaning more towards the bearish side due to the absence of bullish momentum.

Avalanche 24-hour price movement

Exactly 24 hours ago, Avalanche was closing at $17. However, its current price is $15.81. So, the market has marked a noticeable decrease in the price. Similarly, the market cap of Avalanche has decreased by 7.19 percent overall. The 24-hour volume has also reduced by 26.84 percent. This brings the 24-hour volume to market cap ratio of Avalanche to 0.0602.

4-hour Avalanche price analysis

4-hour Avalanche price analysis
Avalanche Chart by TradingView

Based on the 4-hour Avalanche price analysis, the market still has potential to go further towards the downside. A local resistance has been recorded around $17.9 and currently the market is hovering around $15.7, which is the support level. Avalanche has slightly bounced up after touching this support level. However, it is uncertain whether it will maintain this level or eventually break lower.

Avalanche price analysis: Conclusion

Right now, it looks like Avalanche still has potential to further dip. The next major support level for Avalanche would be around $14. Based on the high uncertainty in the market, this may not be a good time to invest in Avalanche for any short-term profits. However, for the long-term, we suggest reading our detailed Avalanche price prediction.

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.



Shummas is a technology enthusiast and a researcher with a keen interest in blockchain and crypto. He also trades and invests in NFTs on the side, believing that NFTs will revolutionize many industries.

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