Avalanche (AVAX) Brief Analysis
Avalanche (AVAX) is currently one of the most notable blockchain platforms in the cryptocurrency market, ranked 13th by market capitalization. AVAX's current price is $27.27, down 2.62% over the last 24 hours. Its market cap is $11.09 billion, with a 24-hour trading volume of $296.62 million.
Key Points:
⢠24-hour high: $28.23
⢠24-hour low: $26.89
⢠24-hour decline: -$0.73 (-2.62%)
⢠ATH (All-Time High): $144.96 (November 21, 2021)
⢠Down from ATH: -81.19%
⢠ATL (All-Time Low): $2.80 (December 31, 2020)
⢠Up from ATL: +873.65%
Technical Analysis:
⢠RSI: Forecast is near neutral, neither overbought nor oversold, indicating the market may be consolidating.
⢠MACD: Currently has a slight bearish signal, indicating short-term selling pressure.
⢠EMA: AVAX is trading below both the 50 EMA and the 200 EMA, indicating that the downtrend is still dominant in the short term.
⢠Bollinger Bands: AVAX is hovering near the middle band, indicating consolidation and a possible large move in the near term.
Trading Recommendations:
⢠Entry: $26.50 - $27.00
⢠Take Profit: $30.00
⢠Stop Loss: $25.00
With the current consolidation and technical indicators showing a correction, traders can consider an entry around $26.50 and take profit at $30 if the market rebounds. However, a stop loss should be placed at $25 to avoid risk if the downtrend continues.
Hashtags:#Avalanche#AVAX#Blockchain#Crypto#CryptoTrading#DeFi#Altcoin#Investing#BlockchainTechnology#TechnicalAnalysis #Cryptocurrency
