Avalanche price analysis is bearish today as it falls below $ 19.5 support and sells more throughout the day. Therefore, AVAX / USD is expected to fall further and be pushed towards $ 18 early next week.
The market has been trading in the red for the past 24 hours. Leader Bitcoin fell 3.62%, but Ethereum 4% or more. Similar results were obtained, following the rest of the top altcoins.
Avalanche Price Movements Over The Last 24 Hours: Avalanches Continued Retroactive
AVAX / USD is trading in the range of $ 18.80 to $ 20.14, indicating moderate volatility over the last 24 hours. The volume of transactions decreased by 6.844% to a total of $ 304 million, with a market capitalization of approximately $ 5.39 billion, and the coin is ranked 15th overall.
AVAX / USD 4-hour chart: Is AVAX ready to test $ 18?
The 4-hour chart shows that selling is still strong after falling below $ 19.5. Perhaps this will lead to further downsides and $ 18 support.
Avalanche pricing behavior is trading at a strong bullish momentum for most of the week. AVAX / USD has risen by more than 33% since the last $ 16 support. Reach $ 21..
Therefore, a slightly lower high was set. This indicates that the major trends are not yet ready for a reversal. From there, the retracement began slowly and the integration was formed yesterday. However, $ 19.5 support didn’t last long.
The price of the avalanche reached $ 19 as the price continued to fall earlier today. With no signs of a slowdown yet, AVAX / USD is expected to fall further by the end of the day and will push towards support for $ 18 early next week.
When that is done, you can see a higher swing low set. This means that the market is integrated in a wide descending triangular pattern.
Avalanche Price Analysis: Conclusion
Avalanche price analysis It’s bearish today as it fell further after the major swing low was set at $ 21 earlier this week. Perhaps AVAX / USD will fall further and trade towards the next support of $ 18 early next week. It is not yet known if the downside will continue from there.