Avalanche price analysis highlights a bearish trend, with the price dropping to a low of $14.46 in the past 24 hours. This marks a decrease of 0.14% from its previous close of $14.48, indicating a selling sentiment among investors. The momentum is expected to extend further as the market trades in red territory.
The resistance and support levels for Avalanche are placed at $14.72 and $14.38, respectively. The current trend is gaining momentum, and it is likely that the price will continue to dip as long as it trades below $14.72. A slight increase in prices may be expected above the support level of $14.38, which suggests a potential upside for investors who buy now and hold for the long term.
Avalanche price analysis 24-hour chart: AVAX/USD bears take control
The 24-hour chart for Avalanche price analysis shows that the bears have taken control of the market. The bears have been able to push the price to a low of $14.38 before retracing back to the current price of $14.46. The current downtrend has been supported by strong selling pressure from the bears since the trading volume of the AVAX/USD pair has decreased as it is down by 11.06 per cent in the past 24 hours.
AVAX/USD 24-hour chart, Source: TradingView
The daily technical indicators are mixed, indicating a lack of clear direction in the market. The RSI is at 40.36, showing that the bears are in control of the market and if the current trend dominates, then the price is expected to move further south. The Bollinger bands are narrowing, suggesting that the price may consolidate in a range before continuing its uptrend. Moreover, the Moving Average Convergence Divergence (MACD) is in positive territory, confirming that the bulls are still in play.
Avalanche price analysis 4-hour chart: Latest developments
On the 4-hour chart for Avalanche price analysis, AVAX has been steadily decreasing in the chart over the past few hours, bears are gaining more strength and pushing the price south. The price has dropped from a level of $14.65 to $14.40 levels. The sellers have been able to maintain their control of the market, and if the buyers don’t step in and buy, the price may continue to drop.
AVAX/USD 4-hour chart, Source: TradingView
The technical indicators are in the bearish territory, with the RSI being at 47.48 and looking to fall further south. The MACD is also following a downward trajectory, with the red bars growing on the histogram showing that the bears are dominating the market. The Bollinger bands have contracted, too, suggesting low volatility and eventual sideways movement in prices.
Avalanche price analysis conclusion
To conclude the Avalanche price analysis, AVAX is trading in a bearish market at the moment, with the bears being in control of the market. Prices have dropped to $14.46 from their previous close of $14.48, and if the current trend continues further south, then investors may expect more losses. The daily indicators are mixed, however, the 4-hour chart confirms that the bearish sentiment is in control of the market.
