Breakdown of TL; DR
- Avalanche price analysis suggests a drop to $ 26.00
- AVAX faces resistance at $ 28.00
- The closest support level is $ 27.00
Avalanche’s pricing analysis shows that AVAX was unable to exceed $ 31.0 and returned to the main support level of $ 21.00. While AVAX is recovering Mark of $ 26.00, It still faces resistance at crossings over the $ 28.00 mark.
The broader cryptocurrency market has been observing bullish market sentiment over the last 24 hours, as most major cryptocurrencies have recorded positive price volatility. Major players include ETH and BTC, which record slopes of 6.73% and 5.46%, respectively.
Avalanche Price Analysis: AVAX Collects $ 28.00
MACD is bullish when pressed, as shown by the green color in the histogram. However, the indicator shows low bullish momentum, as seen when the indicator is low in height. Anyway, the dark green color of the histogram shows that the bulls are gaining momentum and continue to rise as prices approach $ 30.00. However, the Bulls are facing resistance at the $ 28.00 level and need to be overcome before moving it further upwards.
The EMA is currently trading near the average position as the avalanche price analysis has observed low net volatility over the past few days. The two EMAs are currently close together, as short-term momentum remains low. However, as the bullish pressure increases, both EMAs move upwards and the 12-EMA diverges from the 26-EMA.
The RSI is trading within the Neutral Zone and has been trading for the past week. Currently, the RSI is trading above the 50.00 average and is hovering near the 63.31 index unit level. Indicators are trading near oversold areas as buying activity continues. As the RSI continues to rise, the current position indicates that there is room for further upward movement before corrections are needed.
The Bollinger Bands were narrow until yesterday, but the press has shown that avalanche price behavior is becoming more price volatile. In addition, the band diverges as AVAX returns towards the average line of the indicator. Currently, the average line supports the bulls at $ 24.32 and the cap acts as a resistance at the price level of $ 27.75.
AVAX / USDT technical analysis
Overall, the 4-hour avalanche price analysis issues a buy signal at 11 of the 26 key technical indicators that support the bulls. On the other hand, there are only five indicators that support bears with a low bearish presence in the last few hours. At the same time, 10 indicators are located on the fence and do not support either side of the market.
The 24-hour avalanche price analysis does not share this sentiment, but instead issues a sell signal with 11 indicators that suggest a downward breakdown against the 5 indicators that suggest an upward move. The analysis shows a bearish advantage across the medium-term chart, showing less asset buying activity. During that time, the 10 indicators remain neutral and do not emit a signal when pressed.
What do you expect from an avalanche price analysis?
AVAX has finally recovered above $ 25.00 after falling from a high of $ 33.0 to a support level of $ 21.0, according to Avalanche’s price analysis. However, the spikes leave the bulls exhausted and buyers are unlikely to exceed $ 28.00.
Traders can expect AVAX to fall below $ 28.00 as the Bulls are gaining momentum to continue the rally. However, if FUD increases sales pressure and prices fall below $ 27.00, AVAX could stagnate at around $ 25 in the next few days. Technical analysis suggests a further uptrend across short-term charts.