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- 1 Avalanche price prediction indicates the fall of AVAX crypto towards the demand zone.
- 2 AVAX crypto is trading below 20, 50, 100 and 200-days daily moving averages.
- 3 Avalanche price has gained around 6.89% year to date.
The projected trajectory of Avalanche price indicates a decline in the value of AVAX cryptocurrency, leading it towards a demand zone as illustrated on the daily chart. Market experts anticipate a potential rebound for AVAX crypto from this lower level, which is contingent on receiving the necessary support.
In the interim, the success of Avalanche crypto’s recovery hinges on its ability to entice buyers, facilitating a surge towards the upper recuperation threshold. Persistent efforts from sellers are evident as they consistently attempt to exert downward pressure on the value of AVAX cryptocurrency. It remains a critical juncture where buyer and seller dynamics will shape the path that Avalanche crypto takes in the near future.
Avalanche price was at $11.66 and lost 1.27% of its market capitalization intraday. However, trading volume has increased around 34.80% during the intraday trading session. This demonstrates that buyers are getting involved in the trade to push AVAX crypto upwards. Volume to market cap was 2.85%.
Avalanche Price Being Oversold – Technical Indicators
The forecasted trajectory of Avalanche’s price underscores a weakening momentum for AVAX cryptocurrency, as indicated on the daily chart. To avert further decline, buyers must actively gather at an increased pace. Nonetheless, the observed volume shift is currently lower than the average and should see an uptick in favor of buyers.
Simultaneously, AVAX crypto is currently trading beneath its 20, 50, 100, and 200-days daily moving averages. Avalanche price has experienced a decrease of 8.27% within a week and a decline of 18.49% over the span of a month. AVAX cryptocurrency has seen a reduction of 23.32% in the preceding three months and a notable drop of 37.42% over the past six months. However, there has been a partial recovery, with Avalanche’s price regaining approximately 6.89% year to date.
Technical indicators highlight the slippage in AVAX crypto price. Relative strength index (RSI) confirms that AVAX crypto is oversold. Moving average convergence divergence (MACD) highlights the downward momentum of Avalanche crypto.
RSI was at 29 and has entered the oversold territory. 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 has experienced a decrease of 8.27% within a week and a decline of 18.49% over the span of a month. AVAX cryptocurrency has seen a reduction of 23.32% in the preceding three months with a notable drop of 37.42% over the past six months. However, there has been a partial recovery, with Avalanche’s price regaining approximately 6.89% year to date.
Technical Levels
Support Levels: $11.10 and $10.60
Resistance Levels: $12.20 and $12.75
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.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
