Avalanche price analysis: Avax breaks above $95.4 resistance as bullish curve dominates

TL;DR Breakdown

• Avalanche price analysis is bullish.
• Resistance for AVAX is present at $103.2.
• Support for AVAX/USD is present at $95.4.

The latest Avalanche price analysis is showing signs of a bullish trend as the price has undergone a significant increase today as well. AVAX price capped at $92.7 yesterday, but today it broke above the crucial resistance of $95.4, turning it into support, as the bullish upswing has resulted in a further improvement in the price as its value has upgraded to $97.1, setting two months high.

AVAX/USD 1-day price chart: Price continues soaring for the second day

The 1-day Avalanche price analysis shows the price function is upward for today as well. The price has increased, and the coin is trading hands at $97.1 at the time of writing. The increment in price level is significant as the cryptocurrency has gained a value of 5.59 percent during the last 24 hours, and the crypto pair also reports a 16.35 percent increase in value over the past week. It can be expected that the price will elevate further over the day. The AVAX/USD has been successful in maintaining the upwards trend line this week, as continuous green candlesticks are appearing for AVAX.

The price function remained slow at the start of the week, but the price started to rally high in the last few days, the volatility also started to increase, and the Bollinger Bands average has come to $82.2. The Bollinger bands upper end is standing at $99.3, representing the strongest resistance, while its lower end is at $65, representing the strongest support. The Relative Strength Index (RSI) has also increased up to index 66 after today’s bullish efforts, as the indicator has reached near the overbought region.

Avalanche price analysis: Recent developments and further technical indications

The price breakout was downwards at the start of today’s trading session, as the price was correcting, but later on, bulls managed to continue their lead. The price levels are expected to increase further in the coming hours. The 4-hours Avalanche price analysis also confirms the bullish trend as a good increase in AVAX/USD price value has been detected. Although the bulls controlled the market trends at large, the bears also hindered the price function, as well as a correction was also observed four hours ago.

But now, the price is covering the range upwards again as it trades near the upper limit of the volatility indicator. The price is now present at $97.2 as a result of the latest bullish activity.

The moving average value at present is $94.2 now. The volatility is on the higher side. The upper end of the Bollinger Bands Indicator is at $98.1, whereas its lower limit is $86.6. The RSI score has also improved to an index 65 after the price traveled high during the last four hours.

Avalanche price analysis conclusion

The Avalanche price analysis is bullish today as, although the correction was observed earlier, no further bearish activity has been observed during the day. Even bullish momentum has escalated during the last four hours. The RSI curve has also reached near the overbought zone, and we expect AVAX/USD to continue upside for today towards the $100 range.

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