Given that the price of AVAX/USD has significantly increased today, the most recent Avalanche price analysis reveals indications of a bullish trend. The AVAX price peaked at $20.5 yesterday, but today it is attempting to move past $20.9, a key resistance. The bullish upsurge has ...
Given that the price of AVAX/USD has significantly increased today, the most recent Avalanche price analysis reveals indications of a bullish trend. The AVAX price peaked at $20.5 yesterday, but today it is attempting to move past $20.9, a key resistance. The bullish upsurge has further enhanced the price as the value has increased to $21, establishing a nearly two-month high.
AVAX/USD 1-day price chart: Bulls define the price curve
The 1-day Avalanche price analysis shows the price function is upward for today. The coin is currently being sold for $21 due to a rise in price. The cryptocurrency has gained 1.39 percent during the past 24 hours, which indicates that the price increase is significant. Additionally, the cryptocurrency pair displays a week-over-week value increase of 15.13 percent. Throughout the day, we anticipate a further increase in price. This week, the AVAX/USD has successfully maintained its upward trend line as continuous green candlesticks are appearing for AVAX.
At the beginning of the week, the price function remained slow, but in the last few days, the price began to rise. The Bollinger Bands average has reached $18.33 due to an increase in volatility. The lower end of the Bollinger Bands is at $16.12, which is the strongest support, while the upper end is at $20.54, which has now turned into support. After today’s positive actions, the Relative Strength Index (RSI) score also increased, rising to 73 as the indicator trades in the overbought zone.
Avalanche price analysis: Recent developments and further technical indications
Bulls began to increase the price following a correction, and it broke upward at the start of the trading day. The bulls, though, were able to cling onto their position. In the ensuing hours, a spike in price levels is anticipated. The 4-hour Avalanche price analysis supports the positive trend because the price of AVAX/USD has significantly increased. Although the bulls controlled market trends, the bears also hindered the price function a few hours ago, as we saw a correction about eight hours ago.
As it trades close to the volatility indicator’s upper limit, the price once again covers the range in an upward direction. Due to the most recent positive activity, the price is now at $21.
At this moment, the moving average value is $20.6. The level of volatility is considerable. The Bollinger Bands Indicator has a lower limit of $18.40 and an upper limit of $21.29. After the price surged over the previous eight hours, the RSI score increased to an index of 71.
Avalanche price analysis conclusion
The current Avalanche price analysis shows a strong bullish trend. No bearish action has been observed today. Over the past four hours, even the bullish momentum has increased. The RSI curve has also crossed into the overbought region, so we anticipate AVAX/USD to rise further today in the $21 range.