AVAX/USD to record further gains in the next 24 hours

TL;DR Breakdown

• Avalanche price analysis is on the bullish side.
• Resistance is found at $74.4.
• Support for AVAX/USD is found at $70.

As seen in the most recent Avalanche price analysis, the current price development continues to support this momentum. For the past few days, bears have held control of the charts; however, the coin’s value dropped steadily during this time. However, in the last 24 hours, a rise in value was observed; this is good news for buyers. The bulls have gained support at $72.4, which has lifted the price. Although today’s trend has been bullish since yesterday’s strong correction despite today’s drop, it may be a good idea to keep an eye on the $74.4 resistance to assess whether buyers will maintain control. If they can break this resistance, the price will rise even higher.

The current support level is at $70, which has been tested several times over the past few weeks; it seems that this level is holding firm. The next target for buyers could be around $75, but it is essential to remember that no market is ever without risk. For example, if the bears regain control and push the price below $70, the next support level could be around $65.

AVAX/USD 1-day price chart: Bullish Momentum Continues

The 1-day price chart for AVAX/USD is shown below. The red and green lines represent the support and resistance levels, respectively.

As seen in the most recent Avalanche price analysis, the current price development continues to support this momentum. For the past few days, bears have held control of the charts; however, the coin’s value dropped steadily during this time. However, in the last 24 hours, a rise in value was observed; this is good news for buyers.

The bulls have gained support at $72.4, which has lifted the price. Although today’s trend has been bullish since yesterday’s strong correction despite today’s drop, it may be a good idea to keep an eye on the $74.4 resistance to assess whether buyers will maintain control. If they can break this resistance, the price is likely to rise even higher.

The current support level is at $70, which has been tested several times over the past few weeks; it seems that this level is holding strong. The next target for buyers could be around $75, but it is important to remember that no market is ever without risk. For example, if the bears regain control and push the price below $70, then the next support level could be around $65.

AVAX/USD 1-day price chart. Source: Tradingview

The moving average (MA) indicators are also shown on the chart. The 50-day MA currently provides support for the price, while the 200-day MA acts as a resistance level. It will be interesting to see how these indicators change in the coming weeks.

Avalanche price analysis: Recent developments

The four-hour chart for AVAX/USD is shown below. The green and red lines represent the support and resistance levels, respectively.

The market has been downtrend since reaching the high of $92.4 on 6th February. The price then dropped to the low of $64.4 on 20th February, when the market entered into a bullish phase. The current price is sitting at $72.4, above the previous resistance level of $70 but still below the prior high of $92.4.

AVAX/USD 4-hours price chart. Source: Tradingview

The Bollinger Bands (BB) indicator is also shown on the chart. The BBs are narrowing, which suggests that a breakout could be imminent. The BBs also indicate that the market is currently in a state of consolidation, with the price bouncing between the support and resistance levels.

Avalanche price analysis conclusion

The one-day and four-hour Avalanche price analysis reveals that the market is rising for the day. The price rose considerably but has since dropped to $72.1, suggesting a decline in value over the previous four hours. AVAX/USD, on the other hand, is expected to finish in green after correcting for a while longer downtrend is still in place, bulls need to break $74.4 for a sustained move upwards

50-day MA is currently providing support for the price, while the 200-day MA is acting as a resistance level. It will be interesting to see how these indicators change in the coming weeks.

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.