HomeAltcoinsAvalanche price analysis: AVAX/USD bullish spikes prices above $19.14

Avalanche price analysis: AVAX/USD bullish spikes prices above $19.14

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Avalanche price analysis shows that the cryptocurrency is currently on a strong bullish signal today, taking the price as high as $19.14.The bulls have been in control of the market since the beginning of today and have pushed the price up and the pair has surged by over 1.98% in the last 24 hours. 

The resistance for AVAX/USD  is present at $19.23, and a break above this level may lead to further gains in price, Support level is currently at $17.94, and a break below this level could lead to a drop in price. The market cap for the cryptocurrency is currently at $5,727,874,952  and the 24-hour trading volume is $290,224,806.

Avalanche price analysis 1-day price chart: Bullish in control of the market

The 1-day Avalanche price analysis indicates that the market has been on a bullish trend move on the 24-hour chart. The market’s volatility follows a slightly closing movement, resulting in the cryptocurrency being less prone to volatile change on either extreme. However, AVAX/USD pair price remains above $19.14 and is expected to show up strong buying interest at the $17.94 support level.

Avalanche price analysis: AVAX/USD bullish spikes prices above $19.14
AVAX/USD 24-hour price chart. Source: TradingView

The 24-hour  relative strength index (RSI) is currently at 56.67, which indicates that the market has some room to move higher before becoming overbought. The moving average convergence divergence (MACD) is currently above the signal line which indicates that the market is in bullish territory. The 50 -day moving average is currently at $25.78 and the 200-day moving average is at $18.87 which indicates that the long-term trend is still bullish.

AVAX/USD analysis on a 4-hour price Chart: Recent updates

The four-hour Avalanche price analysis illustrates that the present condition of the market demonstrates bullish potential as the price moves upwards. The coin has been forming higher highs and higher lows, which indicates that the bulls are in control of the market in a 4-hour price chart. The market has been trading at $19.14 for the last 4-hours and is anticipated to continue since the bulls are in control of the market.

Avalanche price analysis: AVAX/USD bullish spikes prices above $19.14
AVAX/USD 4-hour price chart. Source: TradingView

The 50 -day moving average is currently at $16.77 and the 200-day moving average is at $18.33, which indicates bulls are still in control of the market. The RSI is currently at 49.71, which indicates that the market is overbought. The MACD line is currently above the signal line which indicates that the market is in a strong uptrend.

Avalanche price analysis conclusion

To conclude, Avalanche price analysis indicates the cryptocurrency AVAX/USD pair is in an uptrend today. Technical indicators are in favor of the bulls, and the coin has gained value to an extent and is currently trading at $19.14 with the bulls controlling the market sentiment on all time frames.

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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