- Avalanche price has been consolidating inside the price range of 12.50 and 22.00.
- AVAX crypto has fallen below 20, 50, 100 and 200-days Daily Moving Average.
- The pair of AVAX/BTC is at 0.0008172 BTC with an intraday drop of 9.42%.
Bulls have historically had trouble maintaining gains at the phase’s threshold when Avalanche pricing has attempted to leave the consolidation phase. Positive AVAX response indicates that people are currently focusing on demonstrating how the token differs from the horizontal range. However, the price of the token has stayed consistent at between $16.20 and $22.00. AVAX’s price is currently surging in a strong rally into the top range of the consolidation period. By maintaining their position at the trendline, AVAX bulls must keep the token above the caged region.
The market capitalization of AVAX decreased by 9.42% yesterday, and its projected price is currently $13.89. Trading volume has decreased by 57.57% since that time. This suggests that sellers are making an effort to increase their own holdings in order to continue the AVAX coin’s downward spiral.
AVAX’s price is rising on the daily price chart as it gets closer to the consolidation phase’s upper trendline. Bulls must assemble at AVAX to see the breakout of the token. However, because volume suggests that the rate of accumulation is limited, bears could halt the AVAX coin’s upward momentum at any time. To avoid falling into any bearish traps in AVAX, bulls need to accumulate swiftly.
What do Technical Indicators suggest about AVAX?
The AVAX coin price is attempting to hold at the current level on the daily chart during the consolidation phase. The AVAX currency’s downward trend is accelerating, according to technical analysis.
The ascending trend of the AVAX currency is shown by the relative strength indicator. The RSI is currently going in a neutral direction at 46. The MACD shows the AVAX currency’s rising velocity. The MACD and signal lines are about to cross in a favourable way. Investors in AVAX should keep an eye on the daily chart for any changes in trend.
Conclusion
Bulls have historically had trouble maintaining gains at the phase’s threshold when Avalanche pricing has attempted to leave the consolidation phase. Positive AVAX response indicates that people are currently focusing on demonstrating how the token differs from the horizontal range. However, the price of the token has stayed consistent at between $16.20 and $22.00. AVAX’s price is currently surging in a strong rally into the top range of the consolidation period. However, because volume suggests that the rate of accumulation is limited, bears could halt the AVAX coin’s upward momentum at any time.
Technical Levels
Support Levels: $12.50 and $10.00
Resistance Levels: $15.00 and $20.00
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2022/11/12/avalanche-price-prediction-avax-cryptotrying-to-maintain-itself/