- Avalanche price prediction suggests that the token has stuck inside the long term consolidation phase and is currently trading at a lower price range.
- AVAX crypto has slipped below 20, 50, 100 and 200-days Daily Moving Average.
- The pair of AVAX/BTC is at 0.0007492 BTC with an intraday drop of 4.32%.
According to Avalanche price prediction, Avalanche pricing has attempted to exit the consolidation phase in the past, bulls have generally had difficulty holding gains at the phase’s threshold. Positive AVAX reaction suggests that individuals are right now emphasizing how the token differs from the horizontal range. The cost of the token, however, has remained constant around $16.20 to $22.00. Currently, the price of AVAX is trying to sustain at the lower price range of the consolidation phase. AVAX bulls must keep the token above the caged area by holding their position at the trendline.
AVAX’s market value dropped by 5.21% yesterday, and its current estimated price is $12.74. Since then, trading volume has grown by 63%. This shows that investors are attempting to raise their own holdings in an effort to maintain the value of the AVAX coin.
On the daily price chart, AVAX’s price is decreasing as it approaches the lower trendline of the consolidation phase. To see the breakdown of the token, bears may gather at AVAX. Bears, however, could halt the AVAX coin’s upward momentum at any time because volume signals that the rate of accumulation is constrained. Bulls in AVAX need to accumulate quickly to avoid slipping into any bearish traps.
What do Technical Indicators suggest about Avalanche Price?
On the daily chart, the AVAX coin price is striving to hold at the present level during the consolidation stage. Technical analysis indicates that the downward trend of the AVAX currency is accelerating.
The relative strength indicator displays the AVAX currency’s negative trend. At 41, the RSI is currently moving below the neutral line. The MACD displays the falling velocity of the AVAX currency. A negative crossover is about to occur where the MACD and signal lines cross. AVAX investors should monitor the daily chart for any shifts in trend.
Conclusion
According to Avalanche price prediction, Avalanche pricing has attempted to exit the consolidation phase in the past, bulls have generally had difficulty holding gains at the phase’s threshold. Positive AVAX reaction suggests that individuals are right now emphasizing how the token differs from the horizontal range. The cost of the token, however, has remained constant around $16.20 to $22.00. Bulls in AVAX need to accumulate quickly to avoid slipping into any bearish traps. Technical analysis indicates that the downward trend of the AVAX currency is accelerating. A negative crossover is about to occur where the MACD and signal lines cross. AVAX investors should monitor the daily chart for any shifts in trend.
Technical Levels
Support Levels: $12.50 and $11.50
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.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
Source: https://www.thecoinrepublic.com/2022/12/12/avalanche-price-prediction-will-avax-crypto-sustain-or-get-detained/