TL;DR Breakdown
- Avalanche price analysis is bearish today
- Avalanche prices are facing resistance at $18.15
- AVA/USD has found support at $17.69
Avalanche price analysis shows a strong bearish trend today for the price of AVAX/USD as bears gain more market control. The AVAX/USD pair is approaching the $18.02 support level at $17.69. Due to investors’ ongoing caution regarding the market’s health, Avalanche’s stock is currently facing a bearish market sentiment. Holders of Avalanche are quite frightened about this as prices have dropped significantly over the past week (around 0.02%), and traders are becoming concerned about their investments. The overall market capitalization for AVA/USD pair is currently at $95.67 billion, and the trading volume has crashed by 52.48% and is now trading at $164 million.
Avalanche price analysis 24-hour chart
The 1-day Avalanche price analysis reveals a downward trend as the bears are in control of the market. The AVA/USD has lost a 0.02% value and is now trading at $18.02. If the $17.69 support cracks, the pair could resume its downtrend toward $17.89.This timeframe’s Bollinger Bands are reasonably close together, which is a sign of minimal market volatility, which is an indication of bearish pressure in the market.
The upper Bollinger Band is located at $20.9653, while the lower Bollinger Band is at $13.2179. The moving average convergence and divergence (MACD) line is below the signal line which is anticipated to produce additional downside momentum given that it is in the bearish zone. The relative strength index(RSI) is currently at 52.50, indicating a negative move at this point as long as selling pressure is present.
AVA/USD 4-hour price chart: Recent updates
Looking at the hourly AVAX/USD pair price chart, we can see that the prices have been on a downturn since the beginning of this week and are currently trading near their lowest levels in months. If the prices continue to fall, we could see them hit the $18.02 level in the coming days. In the past few hours, a downward trend has been observed as the price has moved down to the $17.89 level. The price has dropped significantly as the bears are gaining strength.
The Relative strength index(RSI) for AVA/USD pair is trading at 36.73 and is falling toward the oversold territory, which is a sign that the bears are in control of the market. The daily moving average convergence and divergence (MACD) is bearish, and the histogram is making lower lows again, which indicates the selling momentum may pick up again. Its upper band displays a value of $16.0936, while its bottom band displays a value of $12.6346, signifying resistance and support, respectively.
Avalanche price analysis conclusion
In conclusion, Avalanche’s price of bearish sentiment is likely to remain in the short term, and traders should be cautious when entering new positions. Therefore, the Avalanche price analysis for today indicates a bearish market sentiment as the prices dip lower to the support line. The bears have established a firm bearish trend as the market shifts to the downside. The technical indicators are also supportive of the bearish trend in the market. The prices are anticipated to decline further as the selling pressure intensifies.
