Avalanche price analysis is dictating an increase in the price value today. The price levels have increased again as bulls continue their lead after the previous trading session, which resulted in a break upward for the price function at the start of today’s trading session. Resistance levels for AVAX appear at $19.71, and support levels appear at $17.96. As bulls continue to lead the market, AVAX may see a break past the resistance level in the coming hours.
The coin value is $19.59 currently, after a slight increase in the price level. The increase in price is small, but a green candlestick has appeared on the chart. The 24-hour trading volume for AVAX is $27,080,741, and the market cap rests at $1,187,863,528.
AVAX/USD 1-day price chart: Bulls push AVAX prices higher after a period of consolidation
The 1-day price chart for Avalanche price analysis shows the cryptocurrency analysis is going in a bullish direction today, as buyers have marked their dominancy once again. The price has increased to $19.59 as the coin gained 6.72 percent value during the last 24 hours. As the trend has been mostly upward during the past week, the coin gained 22.51 percent value over the past seven days.
The Moving Average (MA) indicator is trading at $17.44, with a bullish crossover occurring during the previous trading session as the MA 50 crossed over the MA 200. The Relative Strength Index (RSI) indicator is currently at 50.32 and in the overbought area, indicating that AVAX may experience some downward pressure soon. The Bollinger bands show the upper band at $19.71, representing the resistance for AVAX, and the lower band at $17.96, representing the strongest support for AVAX.
Avalanche price analysis 4-hour price chart: Support for AVAX/USD is present at $17.96
The 4-hour Avalanche price analysis is also depicting a slight rise in the price levels today. The bullish momentum has been continuous, and the price has been gradually moving upward for the last 4 hours to reach $19.59 currently. The bears might try to push the price down, but AVAX is predicted to find support at $17.96.
The moving average, on the other hand, is currently at $18.69, which is below the current price value, indicating that buying pressure is still present in the market. The RSI indicator has increased to 65.74, still in the overbought zone. The Bollinger bands have a wide range right now, with the upper band at $19.56 and the lower band at $1745.
Avalanche price analysis conclusion
To conclude, Avalanche price analysis predicts an upward trend for AVAX as the bulls continue their lead in the market. The 1-day and 4-hour charts are in support of this prediction, with the indicators showing bullish momentum and buying pressure. The bulls will try to break past the resistance level at $19.71, but support remains strong at $17.96 if the price begins to dip. Overall, AVAX may see a rise in value in the coming hours.
Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
Source: https://www.cryptopolitan.com/avalanche-price-analysis-2022-10-31/