Avalanche Price Analysis: AVAX hike for $94

0
53

TL;DR Breakdown

  • Avalanche price analysis is bullish today.
  • Strong resistance present at $115.
  • Avalanche trades for $93.5 as of now.

Today’s Avalanche price analysis shows signs of a bullish trend gaining momentum. AVAX/USD is currently trading at $93.5, up 3.91% in the past 24 hours, with a volume of $551,318,334. The market capped yesterday on an upwards momentum and is opening today with vital bullish signs adding to yesterday’s hike above the $94 mark. In addition, the resistance appears to be declining, which could cause the bulls some trouble with regaining their losses.

Yesterday saw a significant increase in bullish volume, which has dissipated overnight, indicating that selling pressure for Avalanche remains relatively high. This increase in selling pressure could see AVAX shrinking in value for a short while.

AVAX/USD 4-hours analysis: Latest developments

Avalanche price analysis indicates market volatility following a declining trend, which means that AVAX/USD prices are decreasingly prone to fluctuating volatility. The upper limit of the Bollinger band is at $95, which acts as the most substantial resistance for AVAX. Conversely, the lower limit for the Bollinger band is available at $88, which serves as the most vital support.

The price of AVAX/USD appears to cross over the Moving Average curve, indicating a bullish move. The bulls have been taking care of the market for the last few hours and seem to have maintained this factor. However, the support and resistance bands are closing the gap between them, indicating a possible squeeze in the market in the coming days.

Avalanche Price Analysis: AVAX hike for $94 1
AVAX/USD 4-hour price chart source: Trading view

The Relative Strength Index (RSI) is 56, which puts cryptocurrency in a stable category; it falls in the upper neutral region. Therefore, we can detect the RSI score to follow a complete linear direction that may indicate a constant value, and the selling activity is equivalent to the buying activity.

Avalanche Price Analysis for 1-day: Market shows bullish momentum

Avalanche price analysis shows market volatility following a slight decline, indicating that the probability of AVAX/USD experiencing fluctuations is declining with the volatility, and the price will remain until the volatility fluctuates. The upper limit of the Bollinger band is present at $115, which acts as the most substantial resistance for AVAX. Conversely, the lower limit for the Bollinger band is present at $79, which serves as the most vital support for AVAX.

The price of AVAX/USD appears to be crossing over the Moving Average curve, indicating a bullish move. However, the market’s direction may seem to be changing over the last few days. Bulls have taken the market, which strengthens the stance of the AVAX cryptocurrency. On the other hand, bears are trying to come back and make opportunities for themselves, all in vain as the bulls have tightened their grip on the market.

Avalanche Price Analysis: AVAX hike for $94 2
AVAX/USD 1-day price chart source: Trading view

The Relative Strength Index (RSI) is 46, indicating a stable cryptocurrency. The price is not in the low price category or the over-bought category, and it fits in the lower neutral zone of the RSI. The RSI score follows a linear path pointing towards the equivalence of the selling activity and buying activities’ equivalence.

Avalanche Price Analysis Conclusion

The conclusion of the Avalanche price analysis indicates that the cryptocurrency behavior suggests that it is following an excellent upwards trend with no chance of a reversal. The cryptocurrency may reach $94 soon. AVAX/USD moves smoothly towards its goal.

Chart analysis shows bullish momentum and massive room for further bullish activity. Predictions lead us to believe that Avalanche might quickly enter the $94 mark range, but this depends on support volatility; if current support fluctuates, we may see a drop in current prices as far as $87. That is not a likely situation considering the recent developments and market realities.

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.