TL;DR Breakdown
- Avalanche price analysis is bullish today.
- Support for AVAX/USD is present at $78.9.
- Resistance for AVAX is present at $86.
The Avalanche price analysis predicts a bullish trend for cryptocurrency today. Although the price function was facing bearish resistance earlier, the bulls have managed to bring price above $84 in the last 24-hours. As the bulls have been in the lead since yesterday, the green candlestick indicates that the coin price value has been increasing again as the buying momentum intensifies. On the other hand, the hourly price action is headed downwards again as ADA/USD is correcting again after the coin rallied high at the start of the trading session.
AVAX/USD 1-day price chart: Price upgrades to $82 after bullish turnover
The one-day Avalanche price analysis is giving encouraging news for the buying side, as the price covered range upwards yesterday, and the trend is upwards for today as well. The coin value is currently settling at $84.27 at the time of writing, gaining more than eight percent value during the last 24 hours, and chances of further upside are also there. The price trends have been showing constant variation for the past week, as after climbing high, the price fell terribly. However, today the odds are in favor of the bullish side.
The volatility is relatively on the higher side, as the Bollinger bands are covering more area. If we talk about the upper and lower Bollinger bands Indicator’s values, the upper limit is present at $92.6, representing the strongest resistance, whereas the lower limit is found to be resting at $61.6, representing the strongest support for AVAX/USD.
The Relative Strength Index (RSI) graph shows an upward curve as the score has enhanced up to index 54 as a result of continuous buying in the market. As displayed in the one-day price chart, the moving average (MA) value is trading at $84.25 position just below the price level.
Avalanche price analysis: Recent developments and further technical indications
The hourly chart for Avalanche price analysis supports the buyers as of whole as the price has been rescued from the bearish pressure, and the price has covered a good upside today. However, the coin has been correcting for the past four hours. At the same time, the bears haven’t caused any major damage, and the circumstances seem like bulls will take over soon. Right now, the cryptocurrency value is found standing at $84.2.
The moving average value in the four-hour price chart is standing at $80.4, quite below the price level. A crossover between the SMA 50 and the SMA 20 curves is also expected in the coming hours, which will be a further bullish indication. The upper band of the Bollinger bands indicator shows $85 of value, whereas the lower band displays $77 of value; the price is trading near the upper band. The RSI graph shows a bullish curve as the upward trend has upgraded the score to index 55, but now the RSI curve has flattened due to the recent correction.
Avalanche price analysis conclusion
The daily and hourly Avalanche price analysis shows support for the buyers, as a considerable amount of recovery in AVAX/USD market value was observed today. The green candlestick marks an upgrade in the coin value throughout the past 24-hour. The buyers’ chances are increasing as the coin value is now settling at $84.2 high, and we expect AVAX to continue upside for the rest of the day.
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.
