Avalanche price analysis reveals that the cryptocurrency is currently on a strong bullish run after a period of consolidation. The AVAX/USD pair has surged by over 1.00 percent in the past 24 hours and is trading at $28.00 at press time. The bulls have been in control of the market since the beginning of today and have pushed the price up from the $27 level to its current level. The resistance levels to watch out for are $28.11 and the support levels are at $27.17. The market cap for the cryptocurrency is currently at $7.9 billion and the 24-hour trading volume is $414 million.
AVAX/USD 1-day price chart: Bullish momentum builds
The 1-day Avalanche price analysis shows that the market has been in a bullish mood as it looks to retrace back to the $28.00 level. The AVAX/USD pair is expected to show up strong buying interest at the $27.17 support level. The bears will be looking to push the price down to the $26.00 level where they will attempt to take control of the market. The bulls will be looking to take advantage of any weakness in the market and push the price up to the $28.11 resistance level.
The bulls are currently in control of the market and are looking to push the price higher as the Moving Average Convergence Divergence indicator on the 1-day chart has started to move up from the zero line. This indicates that the market is in a bullish mood and that the bulls are gaining strength. The Relative Strength Index indicator is currently at 59.98, which indicates that the market is neither overbought nor oversold. The 50-day Simple Moving Average is currently at $25.15 and the 200-day Simple Moving Average is at $22.65. These indicate that the market is in a strong uptrend as the price is trading well above both of these moving averages.
Avalanche price analysis on a 4-hour chart: AVAX/USD gains tremendous value
The four-hour Avalanche price analysis indicates that the market is on a strong bullish run as the price has surged above the $28 level. The coin has been forming higher highs and higher lows, which indicates that the bulls are in control of the market. The market has been trading at $28.00 for the last 4 hours and it is expected to continue to move higher as the bulls remain in control.
The 4-hour chart also shows that the market is in a strong uptrend as the price is trading well above the 50-day SMA and 200-day moving averages. The market is expected to move the MACD indicator towards the zero line, which will indicate that the bullish momentum is picking up. The RSI indicator is currently at 63.10 and it is expected to move higher as the bulls gain strength.
Avalanche price analysis conclusion
Overall, Avalanche price analysis shows that the market is in a strong uptrend and is likely to continue moving higher. Resistance levels to watch out for are $28.11 and a break of this level could lead the price to the $30 level. Support levels are at $27.17 and a break below this level could lead the price to the $26 level and may even extend to $25 in the near term. The technical indicators are all signaling a buying opportunity and the market is expected to continue its bullish in the near term.
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-2022-08-16/