HomeAltcoinsAvalanche price analysis: AVAX tests $12.53 mark, aiming for $12.85 next

Avalanche price analysis: AVAX tests $12.53 mark, aiming for $12.85 next

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Avalanche price analysis is bullish for today as the bullish momentum had inflated the price level to $12.53, a significant increase from yesterday’s trading range of $12.15. The next resistance level for AVAX/USD is at $12.85, and this will likely be the target for bulls over the coming days. However, strong support can be found at $12.15, so traders should keep an eye on that price in case of a sudden pullback.

The digital asset has increased by nearly 2.56% in the last 24 hours, and this bullish momentum is likely to continue as more investors enter the market. The 24-hour trading volume for AVAX/USD is currently sitting at around $ 182 million, with a market cap of $3.774 million.

AVAXUSD 1-day price chart: Helium recover to $12.53

The 1-day price chart for Avalanche price analysis shows the coin traded in a range of $12.15 in the last 24 hours, before reaching a high of $12.53. The bullish momentum that had pushed AVAX/USD to this new level is likely to continue into the coming days as more investors enter the market and drive demand for digital assets.

Avalanche price analysis: AVAX tests $12.53 mark, aiming for $12.85 next
AVAX/USD 1-day price chart, source: TradingView

The volatility has decreased to a degree but is still high. The Bollinger bands average is now at $12.53. Whereas the upper Bollinger band value is at $12.85, representing resistance, and the lower Bollinger band value is at the $12.15 level. The Relative Strength Index (RSI) score has improved up to index 36.96 and is still maintaining its upward curve, hinting at the buying activity in the market.

Avalanche price analysis: Recent developments and further technical indications

The 4-hour Avalanche price analysis shows the price oscillated fast upwards at the start of the trading session but faced rejection at $12.85, and bears pulled the price down to $12.15. The bearish was seen in the previous days, and the price is currently in bullish territory. The ascending trendline indicates the bullish reversal and has been tested several times.

Avalanche price analysis: AVAX tests $12.53 mark, aiming for $12.85 next
AVAX/USD 1-day price chart, source: TradingView

The Bollinger bands indicator shows the following values in the four hours price chart; the upper value is $12.99, whereas the lower value is $11.39. The RSI has reached near the overbought region as the indicator is trading at an index of 43.53. RSI took a downturn during the previous four hours but has again turned upwards as the buying started again. The MA is also trading below the price level at the $12.41 mark.

Avalanche price analysis conclusion

Avalanche price analysis shows the trend has changed as the continuous bullish momentum helped in obtaining a short-term upward trend line which may continue in the future as well. The price is rising again, but strong resistance was observed above the $12.85 level, so we expect AVAX to correct again for a few hours before moving higher.

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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