Avalanche price analysis reveals that the cryptocurrency is currently on a strong bullish run after a period of consolidation. The AVAX/USD pair has surged by over 1.72 percent in the past few hours and is trading at $19.21 at press time. The bulls have been in control of the market since the beginning of today and have pushed the price up from the $18 level to its current level. The resistance levels to watch out for are $19.53 and the support levels are at $18.39. The market cap for the cryptocurrency is currently at $5.66 billion and the 24-hour trading volume is $297 million.
AVAX/USD 1-day price chart: Market moves upwards
The 1-day Avalanche price analysis shows that the market has been in a bullish mood as it looks to retrace back to the $19.00 level. The AVAX/USD pair is expected to show strong buying interest at the $18.39 support level. The bears will be looking to push the price down to the $18.00 level where they will attempt to take control of the market. The bulls will be looking to take advantage of any weakness in the market and push the price up to the $19.53 resistance level.
The Relative Strength Index (RSI) is currently at 60.44, indicating that the market is bullish. The MA indicator is also in a bullish mood as the 12-day EMA is trading above the 26-day EMA. The Simple Moving Average (SMA) 20 period is also trading above the SMA 50 period which indicates that the market is in a bullish mood.
Avalanche price analysis on a 4-hour chart: AVAX/USD gains tremendous value
The four-hour Avalanche price analysis indicates that the market is on a strong bullish run as the price has surged above the $19 level. The coin has been forming higher highs and higher lows, which indicates that the bulls are in control of the market. The market has been trading at $19.21 for the last 4 hours and it is expected to continue to move higher as the bulls remain in control.
The 50-day Simple Moving Average is currently at $16.88 and the 200-day Simple Moving Average is at $15.62 which indicates that the market is in a long-term uptrend. The RSI is currently at 63.74 and it is indicative of a bullish market as the bulls attempt to push the price up to the $20 level. The 12 EMA is at $18.41 and the 26 EMA is at $17.57 which indicates a bullish trend in the market.
Avalanche price analysis conclusion
Overall, the Avalanche price analysis shows that the market is in a strong uptrend and is likely to continue moving higher. Resistance levels to watch out for are $19.53 and a break of this level could lead the price to the $20 level. The support levels are at $18.39 and a break below this level could lead to a retest of the $18 level.
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