Avalanche price analysis: As the price soars to $20.6, AVAX Bulls record higher gains of up to 6.5 percent

The Avalanche price analysis shows a bullish trend. AVAX/USD is the top gainer among the top 20 cryptocurrencies on the market today. The AVAX bulls quickly moved the price from $20.1 to $21.1, but it afterwards corrected back to the current price level, still gaining significant value in a single day. AVAX is moving higher today and is currently changing hands at $20.6 as of this writing. The next barrier for AVAX, though, is at the $21.3 level, where there may once again be selling pressure. Since March 28, 2023, AVAX has generally been moving upward. The positive trend gained momentum after April 9, 2023, as profits continued to rise.

AVAX/USD 1-day price chart: Massive advances are reported by AVAX

The 1-day Avalanche price analysis shows a significant price rise today. Since yesterday, when the price began to rebound once more, the bulls have been on the offensive. AVAX is on the uptrend after finding support at $19, and the bulls made a nice 6.7 percent profit in the coin’s worth during the past day as the price is currently at $20.6. The cryptocurrency pair increased in value by 17.6 percent over the past seven days because the major trend was likewise optimistic last week. Additionally, today’s trade volume jumped by 160 percent.

Since April 13, 2023, when the Bollinger band first extended widely, the volatility has increased significantly. The $20.07 mark for the upper band and the $16.23 point for the lower band indicate the current situation’s first and strongest supports, respectively. The moving average (MA), which is at the $18.8 level, is above the average of the Bollinger bands at $18.15. The relative strength index (RSI) has climbed to join the overbought zone and is now at index 72, suggesting that the market for AVAX/USD has seen significant purchasing activity.

Avalanche price analysis: Recent developments and further technical indications

The 4-hour Avalanche price analysis shows bulls are aggressive behavior today. At the start of the day, a high spike was observed, which was followed by a small a correction. In fact, bulls started to rally high during the ending hours of the previous trading session. At this time, bulls have started their endeavor again as the correction ended and the price is touching the $20.6 mark.

The volatility is on the higher side. The Bollinger bands’ values are as follows; the upper band is at the $20.5 mark, and the lower band is at the $18.2 mark; the price has shooted past the upper limit of the Bollinger bands. Bollinger bands are making an average at the $19.4 mark. The relative strength index (RSI) has been trading in the overbought region at index 73, as buying process continues in the market.

Avalanche price analysis conclusion