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Avalanche price analysis shows a distinctly bearish trend taking shape, as price continued its decline that was set on April 19. After initiating the current dip at a strong price level of $21, AVAX dropped 12 percent in a single day to drop down to $18.52. Another 10 percent drop has followed since, with AVAX currently sitting just below $17. Falling below the psychologically bullish zone at $17, the token could see the bearish trend extend to find support at $16. With the current decline, AVAX market cap fell to $5,526,290,690, with the token occupying the 16th rank in the crypto market. 



The larger cryptocurrency market continues to show a larger bearish trend in place, as <a href="https://www.cryptopolitan.com/bitcoin-price-forecast/?swcfpc=1">Bitcoin</a> continued to dip into the early 27,000&#8217;s, whereas <a href="https://www.cryptopolitan.com/ethereum-price-prediction/?swcfpc=1">Ethereum</a> lost another 4 percent to move down to $1,800. Among leading Altcoins, <a href="https://www.cryptopolitan.com/xrp-price-prediction/?swcfpc=1">Ripple</a> lost 5 percent to drop to $0.45, same as <a href="https://www.cryptopolitan.com/cardano-price-prediction/?swcfpc=1">Cardano&#8217;s</a> dip to lower down to $0.38. Meanwhile, <a href="https://www.cryptopolitan.com/dogecoin-price-prediction/?swcfpc=1">Dogecoin</a> saw a 6 percent decline to sit at $0.079, and Polkadot dropped to $5.87 with a 5 percent dip. 



<figure class="wp-block-image size-large"><img width="1200" height="487" src="https://www.cryptopolitan.com/wp-content/uploads/2023/04/Screenshot-2023-04-22-at-2.47.33-AM-1200x487.png" alt="Screenshot 2023 04 22 at 2.47.33 AM" class="wp-image-293551" srcset="https://www.cryptopolitan.com/wp-content/uploads/2023/04/Screenshot-2023-04-22-at-2.47.33-AM-1200x487.png 1200w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/Screenshot-2023-04-22-at-2.47.33-AM-300x122.png 300w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/Screenshot-2023-04-22-at-2.47.33-AM-768x312.png 768w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/Screenshot-2023-04-22-at-2.47.33-AM-1536x623.png 1536w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/Screenshot-2023-04-22-at-2.47.33-AM-2048x831.png 2048w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/Screenshot-2023-04-22-at-2.47.33-AM-24x10.png 24w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/Screenshot-2023-04-22-at-2.47.33-AM-36x15.png 36w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/Screenshot-2023-04-22-at-2.47.33-AM-48x19.png 48w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/Screenshot-2023-04-22-at-2.47.33-AM-150x61.png 150w" sizes="(max-width: 1200px) 100vw, 1200px" /><figcaption>Avalanche price analysis: <a href="https://coin360.com/" rel="nofollow noopener" target="_blank">Coin360</a></figcaption></figure>



<h2 id="avalanche-price-analysis-rsi-crashes-from-its-overbought-position-on-24-hour-chart">Avalanche price analysis: RSI crashes from its overbought position on 24-hour chart</h2>



On the 24-hour candlestick chart, Avalanche price analysis shows a steep decline in place, forming a descending triangle pattern. After falling below the $17 mark, AVAX price could struggle to set support and may continue to fall freely over the current trend. Price can also be seen falling below its 9 and 21-day moving averages, along with the crucial 50-day exponential moving average (EMA) at $18.31.



<figure class="wp-block-image size-large"><img loading="lazy" width="1200" height="813" src="https://www.cryptopolitan.com/wp-content/uploads/2023/04/AVAXUSDT_2023-04-22_02-52-01-1200x813.png" alt="AVAXUSDT 2023 04 22 02 52 01" class="wp-image-293552" srcset="https://www.cryptopolitan.com/wp-content/uploads/2023/04/AVAXUSDT_2023-04-22_02-52-01-1200x813.png 1200w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/AVAXUSDT_2023-04-22_02-52-01-300x203.png 300w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/AVAXUSDT_2023-04-22_02-52-01-768x520.png 768w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/AVAXUSDT_2023-04-22_02-52-01-24x16.png 24w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/AVAXUSDT_2023-04-22_02-52-01-36x24.png 36w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/AVAXUSDT_2023-04-22_02-52-01-48x33.png 48w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/AVAXUSDT_2023-04-22_02-52-01-150x102.png 150w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/AVAXUSDT_2023-04-22_02-52-01.png 1530w" sizes="(max-width: 1200px) 100vw, 1200px" /><figcaption>Avalanche price analysis: 24-hour chart. Source: <a href="https://coinmarketcap.com/currencies/avalanche/" rel="nofollow noopener" target="_blank">Trading View</a></figcaption></figure>



The 24-hour relative strength index (RSI) can be seen falling distinctly on the daily chart. Previously occupying a high position within the overbought region at 71, AVAX RSI is expected to lower significantly. It currently shows decreasing market valuation at 41.43. Meanwhile, the moving average convergence divergence (MACD) curve can also be observed undergoing a bearish divergence, as the trend line moves below the signal line. AVAX trading volume rose over the past 24 hours, constituting mainly of selling trades. 



Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Avalanche price analysis: AVAX continues crash to drop below $17

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