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- 1 It seems that Avalanche is regaining its potential over the daily price chart.
- 2 The current price of the coin is around $17.07 with a rise of 0.98% during the intraday trading session.
- 3 The pair of AVAX/BTC is around 0.0006786 BTC with a gain of 2.36% in the last 24 hours.
Avalanche price is consistently following the upward curve. The bulls are making every effort to get the ball in their court. The bears tried to get involved in the trade, but they were unsuccessful. The bullish dominance may cause AVAX to recover its potential as the bears lose their grip over the market. Investors may be able to take advantage of the bullish trend to get a better grip over the AVAX.
Avalanche’s price is currently around $17.07 and has increased by almost 0.98% during the last intraday trading session. Significant bullish momentum has been followed by AVAX. The buyers are still active and AVAX is recovering from the past dips. The seller might try to get into the trade which may bring a trend reversal. Buyers must stay focused.
Primary resistance level of $18.02 may be breached if the bears do not move to enter the trade. The price could possibly reach secondary resistance of $21.28 if the bullish trend persists. If the buyers lose their grip over AVAX, then bears might try to manipulate the market of AVAX and this could lead the price to reach the primary support of $14.43. If the bearish trend continues, then the price may reach secondary support of $10.93.
AVAX’s volume has grown over the past 24 hours by about 2.03%. The increase in the volume clearly indicates that the short-selling pressure is decreasing and selling is getting weaker as the buyers are involved in AVAX’S trade. AVAX is trading below the 50,100,200 days of Daily Moving Average and is above the 20 day Exponential Moving Average.
Analyzing Technical Indicators of Avalanche
The technical indicator shows the following: A positive crossover has been indicated by the MACD and MACD signal. The Relative Strength Index appears to be moving toward neutrality as buyers become active, and this could cause the RSI to reach the overbought territory. Present value of the RSI is 50.23, which is higher than the RSI’s average value of 40.24.
Conclusion
Avalanche crypto is currently in a bullish trend. It seems that the AVAX investors are trying hard so the coin could regain its potential. The bullish rally might continue over the daily price chart. The current price of the coin is $17.07 around with a rise of 0.98% during the intraday trading session. The increasing volume also indicated that the buyers have a grip over the AVAX. The Avalanche crypto could attract more investors towards it. Investors might keep a watch on AVAX in such a volatile cryptocurrency market.
Technical Levels-
Resistance level- $18.02 and $21.28
Support level- $14.43 and $10.93
Disclaimer-
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
