The Avalanche price analysis indicates bullish sentiment, as there have been notable improvements in price levels following a significant loss. There is a favorable opportunity for the bulls to make a comeback and potentially surpass the $15 mark. Over the past month, the value of the coin has faced a crucial period characterized by a dominant bearish momentum, leading to a consistent decline in AVAX’s price, which eventually fell below the psychological threshold of $15. However, a change in tides occurred yesterday, with the bulls gradually regaining strength and pushing the price up to $14.8, showcasing signs of recovery.
AVAX/USD 1-day price chart: AVAX recovers to $14.8
The 1-day price chart for Avalanche price analysis reveals an encouraging outlook for the bulls, with ongoing price progress. Despite enduring significant losses, the bulls have managed to sustain their momentum. Currently valued at $14.8, there is a strong possibility of further upward movement as the momentum intensifies. Notably, the price has surpassed the $14.7 moving average (MA) indicator, indicating a recovery from recent bearish trends. However, it’s worth noting that the SMA 20 remains below the SMA 50 curve.
The market volatility is evident from the expanded Bollinger bands, with the upper band at $17 and the lower band at $13.6. The lower band serves as a support level for the AVAX price. Additionally, the Relative Strength Index (RSI) score is showing positive signs, with today’s index at 40, indicating increased buying activity in the market.
Avalanche price analysis: Recent developments and further technical indications
The 4-hour price chart analysis of Avalanche reveals a resurgence of selling pressure as the bulls pushed the price above the upper limit of the volatility indicator, resulting in a retracement. Currently priced at $14.8, bullish momentum has remained robust over the past 24 hours. Notably, the moving average is positioned at $14.5, below the current price level, indicating a bullish signal.
The Bollinger bands suggest a moderate level of volatility, with the upper band at $14.9 and the lower band at $14.2, serving as resistance and support levels for AVAX, respectively. While the overall trend favors the bears, the short-term trend is showing upward movement. However, there remains a significant likelihood of a price drop in the coming weeks. The RSI indicator is currently trading at 60, representing a neutral value but on the higher end of the scale.
Avalanche price analysis conclusion
From the above 1-day and 4-hour Avalanche price analysis, it is encouraging to see the bulls putting in relentless efforts to fight back against the prevailing bearish momentum. Their determination has led to a notable achievement, with the price levels once again reaching $14.8. However, to successfully surpass the resistance level at $15.15, it will be essential for the bulls to continue garnering support from the market. The coming days will be crucial in determining whether the bullish momentum can be sustained and propel the price further upward.
