The Avalanche price analysis shows a bullish trend. The AVAX/USD is the highest gainer today in the market among the top 100 cryptocurrencies, as the AVAX bulls took the price from $24.4 to $26.5 in a swift move, gaining good value in a single day. Today AVAX is following an upwards trend and is trading hands at $26.5 at the time of writing. However, the next resistance for AVAX is present at the $27.5 mark, where selling pressure can return.
Overall, AVAX gained a value of another 50 percent over the entire last week. Generally, the entire month of September proved fruitful for the crypto asset as it saw a substantial gain in value. The rise in the price of the AVAX/USD pair started after mid-June 2021, which still is on the way.
AVAX/USD 1-day price chart: AVAX reports massive gains
The 1-day Avalanche price analysis shows a good increase in price today. The bulls have been rallying since yesterday when the price started recovery. After getting support at $22.3, AVAX is on the upwards trend, and the bulls gained a handsome 14 percent profit in coin’s value during the last 24 hours as the price has reached $26.5 at the moment. But as the major trend was bearish last week, the crypto pair is still at a loss of 12.9 percent for the last seven days.
The volatility has been decreasing extensively since 23 May 2022 as the Bollinger band narrowed down extensively, with the upper band present at the $39.8 mark representing the resistance for the AVAX price function and the lower band present at the $20.9 mark. The average of Bollinger bands is at the $30.3 mark above the price. The moving average (MA) is at the $27.1 mark, also above the price level. The relative strength index (RSI) has traveled up to join the neutral zone and is present at index 34 in the lower half of the neutral region, hinting at the strong buying activity in the market for AVAX/USD.
Avalanche price analysis: Recent developments and further technical indications
The 4-hour Avalanche price analysis shows bulls are in reign for the last 12 hours. At the start of the day, a correction was observed, which started at the end of the previous trading session. The current hours show a continuous increase in price levels as it has touched the $26.4 mark.
The volatility is on the lower side. The Bollinger bands’ values are as follows; the upper band is at the $26.3 mark, and the lower band is at the $21.3 mark; the price has shooted past the upper limit of the Bollinger bands. Bollinger bands are making an average at the $23.88 mark.
The moving average has crossed above the Bollinger bands average, indicating a bullish crossover. The relative strength index (RSI) has also traveled up to index 57, which is in the upper half of the neutral region.
Avalanche price analysis conclusion
The 1-day and 4-hours Avalanche price analysis indicates a strong bullish trend for the cryptocurrency, as overall, the crypto market is under the bearish influence, but today AVAX/USD has shown tremendous improvement in value. Further increase in crypto pair’s price value is also expected in the coming hours.
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Source: https://www.cryptopolitan.com/avalanche-price-analysis-2022-05-29/