Avalanche price analysis: AVAX price recovers to $17.9 as bulls continue to lead

Avalanche price analysis shows bullish results for the day as the price continued to climb through the third day. The price has climbed to $17.9, continuing the uptrend that started on June 19, 2022. The current upside momentum is slow, but the bulls are showing consistency in their progress, which means the buyers are in the lead. Some of the technical indicators have improved over the past three days but bearish pressure is still dominating the market as the uptrend is not enough and there are ample chances of a price decline in the coming days.

AVAX/USD 1-day price chart: AVAX price rises to $17.9 and gains 2.28 percent

The 1-day Avalanche price analysis chart shows that the candlesticks are moving in a bullish direction after a prolonged losing streak. AVAX/USD rate recovered to $17.9. The coin has gained 2.28 percent in value over the past 24 hours and has gained 10.22 percent in value over the past week on bullish activity. Trading volume is up slightly by 5.37 percent and market cap is up 3.21 percent over the past 24 hours, resulting in a market dominance of 0.54 percent.

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

Volatility has been high, which is why the upper Bollinger Band value is $27.8, which is the strongest resistance level, and the lower Bollinger Band value is $12.5, which is support for AVAX. The Relative Strength Index (RSI) value is also increasing due to the price increase, and the indicator shows a reading of index 38 in the lower half of the neutral zone. The moving average (MA) is trading below the current price at the $16.5 level.

Avalanche Price Analysis: Current developments and further technical information

The 4-hour Avalanche price analysis is also showing bullish signs as the price surged to the $17.9 level despite the price breakout at the beginning of the trading session being to the downside. The price has been steadily increasing for the last eight hours and yet the price is currently covering the upside move. The price is well above the moving average of $16.9 and it is now moving towards the upper limit of the volatility indicator. Volatility has been high for this period as the price is up today.

Avax 4 hour 1
AVAX/USD 4 hour price chart. Source: TradingView

The Upper Bollinger Band is now at $18.2 while the Lower Bollinger Band is at $13.4 and if the uptrend continues, the price will soon break above the upper band. The RSI score is also moving towards the overbought territory and is trading at index 62. The indicator’s upward curve indicates buying activity in the market.

Avalanche Price Analysis: Conclusion

The 1-day and the 4-hour Avalanche price analysis shows that the AVAX price has been rising for the last few hours and the price action has also been upward for the last four hours. The cryptocurrency price has recovered as high as $17.9 and has been in a constant uptrend for the past three days. If the RSI continues to move higher and enters overbought territory as seen on the 4-hour chart, it can make a sell call.

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.

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