Avalanche price analysis: AVAX crashes to $17.3

Today’s Avalanche price analysis shows a bearish trend gaining momentum with strong bearish opportunities. AVAX/USD is currently trading at $17.3, up 2.54% in the last 24 hours, with a trading volume of $472,317,967. The market finished yesterday with cracking momentum and opens today with hopeful bullish signs that reinforce yesterday’s move below $18.1. Also, volatility is decreasing, giving the bulls more opportunity for a powerful comeback. AVAX’s lice market cap is $4,907,886,465 and ranks 17th in the cryptocurrency rankings.

AVAX/USD 4 Hour Analysis: Latest Developments

Avalanche price analysis indicates market volatility following an increasing trend, which means that AVAX/USD prices are increasingly vulnerable to fluctuating volatility. The Bollinger Band cap is at $18, which is the main resistance for AVAX. Conversely, the lower boundary for the Bollinger Band is $15.4, which serves as the key support for AVAX.

The price of AVAX/USD seems to be crossing the moving average curve, which indicates upward movement. However, the bears have been taking care of the market for the past few hours and will maintain momentum if the price moves towards support.

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AVAX/USD 4 hour price chart Source: TradingView

The Relative Strength Index (RSI) is 54, which puts the cryptocurrency in a stable state. However, we can track the RSI following a downward path in the undervalued territory, indicating the dominance of selling activity. If the RSI decides to move further towards an era of dominant selling activity, a reversal move will become inevitable and the bulls will have another shot at glory.

Avalanche price analysis for 1 day

Avalanche price analysis shows market volatility following a bearish trend, indicating that until the volatility fluctuates, the probability of AVAX/USD experiencing fluctuations remains constant. The Bollinger Band cap is at $20.7, which is acting as the main resistance for AVAX. Conversely, the lower boundary for the Bollinger Band is $14.1, which is the strongest support for AVAX.

AVAX/USD price seems to be crossing the moving average curve, indicating a bearish move. However, the direction of the market seems to have remained constant over the past few days. Bears have taken over the market, which is weakening the bulls’ stance. However, AVAX/USD price seems to be breaking the support band, indicating a breakout in the market. This can create a power imbalance in the cryptocurrency market.

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AVAX/USD 1-day price chart Source: TradingView

The Relative Strength Index (RSI) is 42, indicating a stable cryptocurrency. Furthermore, the price seems to be following a downward path in the undervalued region, showing signs of declining cryptocurrency values ​​and a move towards depreciation and intense selling activity; this can initiate a strong reversal in the market.

Conclusion of the avalanche price analysis

The Avalanche price analysis conclusion shows that the cryptocurrency’s behavior suggests that it is following a partial bearish trend with massive reversal potential. The market has recently come under bearish rule but does not seem competent enough to sustain it. However, they have already engulfed the market and the bulls are currently on the ropes but could take over by storm in the coming days if they capitalize on the breakout.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com is not liable for any investments made based on the information provided on this page. We strongly recommend independent research and/or advice from a qualified professional before making any investment decisions.

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