HomeAltcoinsAvalanche price analysis: AVAX consolidates at $13 as bulls try to uplift...

Avalanche price analysis: AVAX consolidates at $13 as bulls try to uplift the coin value

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The coin’s price has risen today, according to Avalanche price analysis, because the bulls prevented the market from falling below the $12.78 level. The price has increased as a result of the bullish side’s steadfast efforts since the start of the trading session and is currently trading at the $13.13 level. As a result of their achievement in keeping the price level close to the prior margin, the bulls are currently preserving their advantage.

The price breakout was upwards at the start of the trading session, but the price function has now been covering range downwards over the last few hours, as resistance at $13.42 is also nearby. On the contrary, the support for AVAX/USD is present at $10.63, which is still quite below the current price level.

AVAX/USD 1-day price chart: AVAX recovers after the correction

The one-day Avalanche price analysis shows that the coin found support and the price started to rise once again today after being on a downslide for the last two trading sessions. Although the trends have been in favor of bears for the past few days, the coin has still managed to report a profit of 0.63 percent for the last 24 hours. However, the bears have caused major damage, and the cryptocurrency lost 12.27 percent of its value over the past week, which is a negative sign for the buyers. The price level after the recent bullish progress has increased to $13.13. The moving average (MA) is trading above the price level at $13.46 in the one-day price chart.

Avalanche price analysis: AVAX consolidates at $13 as bulls try to uplift the coin value
AVAX/USD 1-day price chart. Source: Tradingview

The volatility has been increasing, and the lower arm of the volatility indicator has traveled further downward; hence, it can be expected that a further downward price breakout may follow after the current consolidation. The Bollinger Bands Indicator shows the following readings for the day: the upper value is $21.10, representing the strongest resistance, while the lower value is $10.64, representing the strongest support. The Relative Strength Index (RSI) score has increased to index 38 because of the uptrend.

Avalanche price analysis: recent developments and further technical indications

The 4-hour Avalanche price analysis suggests that a spike in price levels was observed in the first four hours of the trading session when the price increased to the $13.25 level. But the selling pressure returned and bears are striving to take back the lead, as the coin’s price is correcting again at the moment and has dropped to $13.13, although the price is still on the greener side. And the recovery made during the first four hours suggests that the price may keep on recovering in the coming hours.

Avalanche price analysis: AVAX consolidates at $13 as bulls try to uplift the coin value
AVAX/USD 4-hours price chart. Source: Tradingview

The moving average indicator is showing a value of $13.04 below the price level. The Bollinger Bands Indicator has been maintaining an average of 13.21; the upper value is at $13.69 and the lower value is at $12.73, indicating comparatively low volatility. The RSI is trading near the center of the neutral zone at index 47 with a downward curve on the four-hour chart due to the current selling activity.

Avalanche price analysis conclusion

The one-day and four-hour Avalanche price analysis is showing a bullish trend for the day as the price function is on the increasing side. Even though the bears have caused a small deficit in the price during the last four hours, we still expect a further increase in AVAX price levels for the coming hours.

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.

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