The Avalanche price analysis shows a bullish trend. The market is highly volatile today, as the AVAX price swung high and low after taking a break downward. The coin’s price went as low as 17.64, but this level proved to be a strong support as the coin bounced upwards from there, and bulls took the price to $18.40, recovering the entire loss and gaining further value. However, the next resistance for AVAX is present at the $19.68 mark, where selling pressure can return.
AVAX/USD 1-day price chart: AVAX continue upwards trajectory
The 1-day Avalanche price analysis shows a good increase in price today. The bulls have been rallying since April 9, 2023, when the price started recovering. Today, AVAX is following an upward trend and is trading hands at $18.40 at the time of writing. Despite the fact that the bulls performed fairly well today, the crypto pair only shows a 0.17 percent profit in its value during the last 24 hours due to the steep swing low at the start of the trading session. But as the major trend was bearish last week, the crypto pair shows a 1.92 percent gain for the last seven days.
The volatility has been low extensively since April 5, 2023, as the Bollinger band formed a narrow tunnel. Now the indicator is showing signs of diversion, with the upper band present at the $18.45 mark representing the resistance for the AVAX price function and the lower band present at the $16.49 mark representing the support. The average of the Bollinger bands is at the $17.47 mark below the price. The moving average (MA) is at the $17.86 mark, also below the price level. The relative strength index (RSI) has traveled up in the upper half of the neutral zone and is present at index 59, hinting at the strong buying activity in the market for AVAX/USD.
Avalanche price analysis: Recent developments and further technical indications
According to the 4-hour Avalanche price analysis, bulls are now dominating the charts. A significant correction that started at the conclusion of the previous trading session was visible at the start of the day. Price levels have continued to rise during the last few hours, reaching a high of $18.40.
On an hourly basis, the volatility is on the greater side. The upper band of the Bollinger bands is at a value of $18.64, and the lower band is at a value of $17.14. At $17.88, Bollinger bands are currently making an average. A bullish price movement is being indicated by the moving average trading above the average of the Bollinger bands. The relative strength index (RSI), which is in the upper half of the neutral region, has also climbed to index 61.
Avalanche price analysis conclusion
While the general cryptocurrency market is experiencing a bearish sentiment, today’s performance of AVAX/USD indicates a strong bullish trend according to the 1-day and 4-hours Avalanche price analysis. In the ensuing hours, it is also anticipated that the price of the crypto pair would rise further.
