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- 1 Avalanche price prediction highlights sustainability issues of AVAX crypto.
- 2 AVAX crypto has slipped below the 20, 50, 100, and 200-day daily moving averages.
- 3 The pair of AVAX/BTC was at 0.000451 BTC with an intraday drop of 0.09%.
Avalanche price prediction showcases the slippage of AVA crypto from the upper level of $15.00 over the charts. AVAX crypto may sustain at the current support zone to bounce back towards the recovery level. Meanwhile, Avalanche price must attract buyers in order to surge over the daily time frame chart. AVAX crypto has gained 21.76% year-to-date, confirming the facts regarding AVAX crypto’s recovery during 2023.
Avalanche price was at $13.27 and gained 0.36% of its market capitalization during the day’s trading session. However, trading volume fell by 1.58% during intraday which demonstrates that sellers are still present in the trade to pull AVAX crypto price downwards. The volume to market cap ratio was at 0.0249.
Avalanche Price Prediction: Technical Analysis
Avalanche price prediction showcases the downtrend momentum of AVAX crypto over the daily time frame chart. Meanwhile, trading volume is below average and needs to grow during the intraday trading session. However, AVAX crypto has slipped below 20, 50, 100, and 200-day daily moving averages.
Avalanche price must revert back towards the upper recovery level in order to initiate its recovery phase. However, sellers have been continuously shorting AVAX crypto in order to pull AVAX crypto prices into the demand zone. AVAX may revert back from the $12.75 support area and may get to the $15 recovery level according to analysts.
Avalanche price is down by around 5.29% in a week and 25.31% in the last three months. Moreover, AVAX crypto price has slumped 37.41% in last six months.
Technical indicators highlight the downside trend of Avalanche price. The Relative strength index showcases the downward momentum of AVAX crypto. RSI was at 46 and is heading towards the oversold territory.
The MACD too, exhibits the downward velocity of AVAX crypto price. The MACD line is below the signal line after a negative crossover. Investors in Avalanche cryptocurrency need to wait for any directional change over the daily time frame chart.
Summary
Avalanche price prediction shows how AVAX cryptocurrency has fallen from its higher recovery level of $15.00 on the charts. The trading volume, which is now below normal, must increase throughout the intraday session. To begin its recovery phase, the avalanche price must return to the higher recovery level. Nevertheless, the price of Avalanche dropped by (approx.) 5.29% in the past week and by 25.31% in the past three months. Technical indicators point to a downward price trend for Avalanche. Investors in the Avalanche cryptocurrency must watch the daily time frame chart for any directional changes.
Technical Levels
Support Levels: $12.75 and $12.10
Resistance Levels: $14.00 and $15.00
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 or stock comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
