Avalanche price analysis indicates the current market is seen to be in a bullish run. Avalanche (AVAX) prices have surged by 12.98 percent in the last 24 hours, and the market looks to be in a bullish run. The coin is currently trading at $17.14, and the strongest resistance is seen at $19.5.With this recent surge, Avalanche has now entered the top 20 cryptocurrencies by market capitalization and is currently ranked at position 16.
The current market conditions are very favorable for Avalanche, and it is expected that the prices will continue to surge in the near future. There is a strong possibility that the prices will reach the $20 mark in the next few days. The current trading volume is also very high, which is another indicator of the market’s bullishness. The total trading volume is $581,778,406 while the market capitalization for AVAX sits at $4.8 billion.
AVAX prices have been trading between a range of $15.5 and $17.14 in the past 24 hours according to Avalanche price analysis on the daily chart. Prices have made higher highs and higher lows, which is a sign of bullish momentum in the market. There is also a rising trend line that has been acting as support for the price since yesterday’s closure of the trading action. The RSI indicator is currently at 68.8 and is moving in the upward direction, which indicates that the prices are likely to continue to rise.
The MACD indicator has crossed the red signal line and is currently above it, which is another sign of a bullish trend. The 100 EMA line is also above the 200 EMA line, which is another confirmation of the bullish trend in the market. The market seems to be entering a bullish run as the conditions are very favorable at the moment. It is expected that the prices will continue to surge in the near future and reach new highs.
The market volatility is currently high as the bands of the Bollinger bands are seen to be far apart. This indicates that the prices are likely to see a significant price movement in the near future. There is a buying action that is attributed to the recent surge in prices. The market looks to be bullish and is expected to continue its upward trend.
Avalanche price analysis on a 4-hour chart: Bulls in control as the market looks to be in a bullish run
The 4-hour chart for AVAX shows that the prices have been on an uptrend since yesterday. The market is in recovery mode as the prices have surged by 12.98 percent in the last 24 hours. The coin is currently trading at $17.14, and the prices are expected to continue to rise in the near future.
The RSI indicator is currently at 68.8 and is moving in the upward direction, which indicates that there is still some room for prices to rise. The MACD indicator is also in the bullish zone and is currently above the signal line, which is another sign that the market is in a bullish trend. The 100 EMA line is seen to be above the 200 EMA line, which means that the path of least resistance is to the upside. This indicates that the prices are likely to continue to rise in the near future.
The upper band of the Bollinger band is at $18.57, and the lower band is at $16.71. The market volatility is currently high, which indicates that the prices are likely to see a significant price movement in the near future. The market looks to be in a bullish run as the prices are expected to continue making higher highs.
Avalanche price analysis conclusion
Avalanche price analysis confirms the AVAX prices have been on a continuous upward movement in the last 24 hours as the market tries to recover from the pullback it witnessed a few days back. The market conditions are very favorable for the bulls, and it is expected that they will take control of the market in the near future. The prices are likely to continue to surge and reach new highs as the market looks to be in a bullish run.
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Source: https://www.cryptopolitan.com/avalanche-price-analysis-2022-06-20/