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- 1 Avalanche price prediction showcases the struggle of AVAX crypto below the demand zone.
- 2 AVAX crypto is trading below 20, 50, 100 and 200-days daily moving averages.
- 3 Avalanche cryptocurrency has declined around 5.33% year to date.
Avalanche price prediction indicates the sustainability issues of AVAX crypto below the demand zone over daily time frame chart. Meanwhile, AVAX has been slipping from the $15 mark since July 2023. And now it looks like AVAX crypto is preparing for a significant recovery from the demand zone. However, sellers are still present in the trade to pull AVAX downwards.
Avalanche prices have been struggling to get significant growth from the start of the year. However, sellers have been continuously pulling Avalanche cryptocurrency to slump near the lowest. Now buyers need to come forward for the rescue of AVAX crypto to push itr from its ashes.
Avalanche price was at $10.34 and has gained slightly around 0.10% of its market capitalization intraday. However, trading volume has decreased by 25.94% during the intraday trading session demonstrating that sellers are still present in the trade to pull AVAX down. Volume to market cap ratio was 2.65%.
How Will Avalanche Price Rise From Ashes?
Avalanche price prediction emphasizes its ongoing challenges as it remains situated below a crucial demand zone. Sellers are persistently attempting to drive AVAX’s price down from its present point. To counteract this downward pressure from sellers, buyers must increase their accumulation rate throughout the day’s trading session. AVAX’s current trading situation finds it positioned beneath its 20, 50, 100, and 200-day daily moving averages.
Over the span of one week, the price of Avalanche (AVAX) experienced a decrease of approximately 9.32%, and within a month, it dropped by about 21.30%. Over the course of the past three months, AVAX crypto price declined by roughly 26.83%, and over the last six months, the decline has been around 43.97%. Additionally, the overall performance of the Avalanche cryptocurrency has been lackluster since the beginning of the year, with a year-to-date decline of approximately 5.33%.
Technical indicators suggest that Avalanche crypto is being oversold at the moment. Relative strength index (RSI) confirms the oversold state of AVAX cryptocurrency. Moving average convergence divergence (MACD) shows the downside trend of AVAX crypto price.
RSI was at 26 and is flat inside the oversold territory. The MACD line is below the signal line waiting for any type of crossover. Investors in Avalanche crypto need to wait for any directional change over the daily time frame chart.
Summary
Avalanche price prediction highlights the sustainability issues of AVAX crypto below the demand zone over daily time frame chart. To counteract this downward pressure from sellers, buyers must increase their accumulation rate throughout the day’s trading session. Over the span of one week, the price of Avalanche (AVAX) experienced a decrease of approximately 9.32%, and within a month, it dropped by about 21.30%. Technical indicators suggest that Avalanche crypto is being oversold at the moment.
Technical Levels
Support Levels: $10.05 and $9.72
Resistance Levels: $10.60 and $11.11
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.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
