Today’s avalanche price The analysis points to a bearish move in the market, with the market moving in the negative direction and AVAX prices dropping significantly. AVAX has fallen from a high of $11.36 and is currently trading at a low of $11.13, down 1.61% over the past 24 hours.
AVAX’s current market sentiment is bearish and the price may continue to fall in the next few hours. AVAX currently has a market capitalization of $3,478,394,328, with a total 24-hour trading volume of $99,344,846 million. AVAX’s next uptrend level is $11.36, and if the price breaks out of this level, it could reach the next resistance level of $11.43. On the other hand, if the price breaks below the current level and breaks the support at $11.03, it could plunge to AVAX’s next support level of $10.90.
Avalanche price analysis: AVAX is facing the support level at $11.03.
Avalanche price analysis’s 4-hour price chart shows a continued decline in price, with no significant bullish moves observed today. With AVAX’s volatility relatively low since yesterday and the price function constrained, the last candlestick visible on the 4-hour chart could also turn red soon. It is moving and shows resistance from the bullish side, but if the RSI goes down, it indicates that the price will fall further.
The moving average (MA) is also showing some bearish features as it moves up towards the price level on the 4-hour chart. If the price drops a little further, the MA will pass through a bearish crossover, further confirming the bearish dominance. The Bollinger Bands are also showing a bearish trend, with the upper band supporting the price at his $11.89 and the lower band suggesting a further drop to his $10.98.
AVAX/USD 1-Day Price Chart: Further Downtrend Continues?
Avalanche Price Analysis’s 1-day price chart shows that the price breakdown is on the downside today and continues to fall, with the AVAX/USD pair trading at 11.13 at the time of writing. Last week was an upward trend, but it seems to be slipping sideways today.
The Relative Strength Index (RSI) is hovering in the neutral zone. While the RSI is neither in the oversold nor overbought territory, it could drop soon as we expect the price to drop further. but not yet crossed. This indicates that the bearish trend is likely to continue. The Bollinger Bands also show that the price is going down further as the upper and lower bands are on a downward trajectory.
Avalanche price analysis conclusion
Avalanche price analysis suggests that prices may drop further. The 4-hour chart shows a bearish trend and we expect the downtrend to continue. The 1-day chart shows the same trend, most technical indicators are showing bullish signals, but look at the chart patterns and dips. Due to the volatility, it is safe to assume that the price may go down in the short term.
