Avalanche price analysis shows that the market sentiment is currently bullish and prices are expected to rise in the near future. The key support for AVAX prices is seen at $17.14, while resistance is seen at $19.82, however, prices are expected to break out of this resistance level soon. Overall, the market sentiment is positive and investors are advised to buy AVAX at current levels.
The digital asset AVAX has been on a roll lately and has posted some impressive gains in the last 24 hours. At the time of writing, AVAX is trading at $19.24, up by a massive 20.85% in the last 24 hours. The market capitalization of the digital asset has also surged to $2.73 billion, and the 24-hour trading volume is recorded at $1.37 billion. The digital asset has gained a lot of traction in the last few days and has emerged as one of the top performers in the cryptocurrency market.
Avalanche price movement in the last 24 hours: Bullish momentum builds
The daily chart for Avalanche price analysis shows that the prices have been on a constant uptrend in the last few days and have gained massively in the last 24 hours. The prices have broken out of the $17.14support level and are currently facing resistance at $19.82. The24 hour chart for AVAX shows that the prices have formed a bullish flag pattern and are currently trading above the $19.00 level.
The MACD indicator has crossed into the bullish zone and is currently above the zero line, which indicates a bullish market sentiment. The RSI indicator is currently at 73.48 and is well above the 50 level, which indicates that the prices are currently in overbought territory. The MA 50 and MA 200 are both sloping upwards, which indicates that the prices are in a strong uptrend.
Avalanche price analysis on a 4-hour chart: Bulls in control as the market looks to be in a bullish run
The hourly chart avalanche price analysis shows that the prices have formed ascending triangle pattern and are trading above the $19 level. The prices have also broken out of the $19.00 resistance level and are currently facing resistance at $19.82. The MACD indicator is currently in the bullish zone and is above the zero line, which indicates a bullish market sentiment. The RSI indicator is currently at 70.58 and is well above the 50 level, which indicates that the prices are currently in overbought territory. The MA 50 and MA 200 are both moving upwards, which indicates that the prices are in a strong uptrend.
Avalanche price analysis conclusion
To conclude, Avalanche price analysis shows that the market sentiment is bullish and investors are advised to buy AVAX at current levels for the long term. The digital asset is expected to break out of the $19.82 resistance level soon and move higher towards the $20.00 level. However, the overall market sentiment is bullish, which indicates that the market is likely to continue its upward trend.
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-2022-06-24/