Avalanche price analysis appears to be following a strong bullish movement, with the price going up, expecting to reach new highs. In the last 48 hours, the price has fallen to a significant degree. On April 1, 2023, there was a decline in the price of the asset from $17.8 to $17.5, indicating a negative momentum in the market. Nonetheless, the bullish investors intervened, and the upward trend continued. As of April 2, 2023, the asset’s value hit a low of $17.5, but it has since moderately risen to $17.5.
The current market price of Avalanche stands at $17.73 with a 24-hour trading volume of $183.83M, a market capitalization of $5.77B, and a market dominance of 0.49%. Over the last 24 hours, the AVAX price has increased by 0.68%. The asset’s all-time high was achieved on November 21, 2021, at a price of $146.18, while its all-time low of $2.79 was recorded on December 23, 2020.
Since the last cycle low, the lowest price was $10.61, while the highest AVAX price reached during the same period was $22.65. Currently, Avalanche’s price prediction sentiment is neutral, with a Fear & Greed Index of 63 (Greed).
Avalanche’s circulating supply stands at 325.71M AVAX out of a maximum supply of 720.00M AVAX. The yearly supply inflation rate is currently 21.83%, resulting in the creation of 58.36M AVAX over the last year. As per its market capitalization, Avalanche ranks #7 in the Proof-of-Stake Coins sector, #1 in the Avalanche Network sector, and #11 in the Layer 1 sector.
AVAX/USD 1-day analysis: Latest developments
Avalanche price analysis reveals that the market is experiencing volatility, which is increasing over time, indicating that AVAX/USD prices are increasingly susceptible to fluctuations in volatility. At present, the open price of AVAX is $17.73, with a high price of $17.73. Conversely, the low price of AVAX is recorded at $17.70, which reflects a -0.02% change, and the asset’s close price is $17.72.
The AVAX/USD price has recently crossed above the Moving Average curve, indicating a bullish market sentiment. This suggests that bullish investors have been dominating the market in the past few hours and are likely to maintain their momentum. Nevertheless, the price also exhibits an increasing trend as it approaches resistance levels. The bullish investors may be able to sustain this trend provided that they exercise prudent decision-making strategies.
The cryptocurrency’s Relative Strength Index (RSI) currently stands at 54, signifying its stable state. Nevertheless, the RSI follows a linear path in the central neutral region, implying that buying and selling activities are equivalent. The price attempts to anchor itself to this stable point, while maintaining the value of the AVAX cryptocurrency.
Avalanche price analysis for 7-days
Avalanche price analysis reveals that the market is experiencing volatility with an upward trend, suggesting an increased likelihood of fluctuations in the AVAX/USD exchange rate. The high price of AVAX is currently at $17.80, with an open price of $17.73. Conversely, the low price of AVAX is recorded at $17.64, representing a change of 0.02%, and the asset’s close price is $17.73.
The AVAX/USD price seems to be dipping below the Moving Average curve, which signals a bearish trend. Nevertheless, the market’s direction appears to have shifted to a positive one over the past few days, as the bulls try to gain control, weakening the bears’ position. However, the AVAX/USD price is testing the Moving Average, suggesting a potential market breakout.
Avalanche price analysis reveals that the Relative Strength Index (RSI) stands at 47, indicating a stable state for the cryptocurrency. Additionally, the price seems to have established an upward trend and anchored itself to it, albeit at a point located in the central neutral region. Eventually, the price will be compelled to move against this point. The RSI shows an upward trajectory, which indicates an increasing value for AVAX, a positive movement, and a predominance of buying activities.
Avalanche Price Analysis Conclusion
Avalanche price analysis reveals the current trend of the cryptocurrency indicates a strong bullish behavior with significant positive potential. The market has recently been dominated by bullish activities and appears capable of sustaining this trend. However, the bulls have already gained control of the market, and the bears may attempt to take over in the near future if they capitalize on a potential breakout.
