Avalanche price analysis: Price curve deflates near $80.04 after bearish setback

TL;DR Breakdown

• Price has degraded up to $80.04.
• Avalanche price analysis shows downtrend.
• Support for cryptocurrency is $57.95.

The latest Avalanche price analysis confirms a downward trend for the market as the cryptocurrency faced bearish resistance during the past few days. Although the situation favored the buyers in the previous week, the bears managed to escape the bullish wave in the past two days. Currently, the coin value sits at $80.04 position, and it might drop even further if the selling pressure resumes to increase.

AVAX/USD 1-day price chart: Bearish takeover results in price drop up to $80.04

The daily Avalanche price analysis gives the bears the leading position as more selling activity has been taking place for the past few days. Although a strong bullish wave dominated the market in the preceding week, today’s trend proved relatively in support of the sellers. The market value of AVAX/USD has dropped up to $80.04 because of the downward trend. The price is now lower than its moving average (MA) value, i.e., $82.99.

The volatility is on the increasing side because the Bollinger bands are expanding, and this is a rather bearish indication regarding the upcoming market trends. The upper value of the Bollinger bands indicator now sits at $91.58, whereas its lower value stands at $57.95. The Relative Strength Index (RSI) score has decreased to 49.93 because of the latest downturn in price.

Avalanche price analysis: Downslide devalues AVAX/USD till $79.99 extreme

The four-hour Avalanche price analysis confirms a strong bearish trend as the coin value has dropped exceedingly in the past few hours. The bears have been overruling the bulls for the past few hours by securing consecutive wins. Currently, the selling activity intensifies further as the coin value has been lowered to $79.99 extreme. Chances of further devaluation in cryptocurrency value seem quite near. Moreover, the moving average value in the hourly price chart is at $84.87 point.

The volatility is increasing, which means that the ongoing downtrend might also extend in the upcoming hours if the sellers remain consistent. At the same time, the upper Bollinger band is now resting at $95.64 high, while the lower Bollinger band is present at $80.084 low. The RSI graph shows a downward curve, as well as the score has moved down to 36.75.

The given technical indicators chart for AVAX/USD gives a selling signal because of the constant bearish trend controlling the price flow. There are ten indicators on the selling mark, eight on the neutral, and six on the buying mark.

The moving averages indicator gives a bearish hint regarding the price movement. We can see nine indicators settling on the selling position; four indicators are buying while zero are present on the neutral position. The Oscillators are giving a neutral signal regarding the current market trends. Eight indicators are on the neutral side; two are on buying, while only one is on the selling side.

Avalanche price analysis conclusion

The given one-day and four-hour Avalanche price analysis is giving the lead to the sellers as a downtrend has been observed in the past 24-hours. The coin value has receded to $80.04 because of the latest drop in price. The hourly price chart displays a series of red candlesticks, which are indicative of a strong bearish wave.

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