AVAX dips to lows of $21.51 as bearish pressure increases


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Cryptocurrencies prices heatmap, source: Coin360

Avalanche price analysis shows AVAX prices continue to trend lower on the charts, as the market bears remain in control. Prices have sought support at around $20.0, but this level has so far not been able to hold. The intraday low was reached at $21.51 and from here, a small rebound has been seen.

The bearish pressure seems to be increasing on the market, as the prices continue to dip lower. The next level of support is likely to be found at $18.0, where prices had previously found some support. If this level is breached, then further losses can be expected in the short term. Avalanche prices have been hovering around a range of $21.38 to $24.12 as the digital asset dominates 0.53 percent of the cryptocurrency market.

The market took a sharp turn lower over the past few hours as bears managed to push prices below some key support levels and they are currently exchanging hands at $21.51. The selling pressure has been quite intense and it looks like the market may be headed for further losses in the near term.AVAX is currently ranked position 15 while it has a trading volume of $539,170,552.

Avalanche price analysis on a 4-hour price chart: Bears in control as prices dip below key support levels

The 4-hour price chart for AVAX/USD shows a market that is in a clear bearish trend. Prices have been falling consistently over the past few days and there seems to be no end in sight to the current downtrend. The market has found some support at around $20.0, but this level has not been able to hold for long.

The next level of support is likely to be found at $18.0, where prices had previously found some support. If this level is breached, then further losses can be expected in the short term. The market looks like it is headed for further losses in the near term.

The technical indications show a declining market trend. The MACD is in bearish territory and is moving lower. The RSI is also in bearish territory and is trending lower. The market looks like it is headed for further losses in the near term.

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AVAX/USD 4-hour price chart, source: TradingView

The moving averages are currently bearish and are trending lower. The market looks like it is headed for further losses in the near term. Moreover, the Stochastic RSI is approaching oversold territory, which means that the market may be due for a rebound in the near term.

Avalanche price analysis on a daily price chart: Bearish trend intact

Avalanche price analysis shows the prices are currently trading in a declining market trend. The technical indicators are currently showing bearish signals and the market looks like it is headed for further losses in the near term.

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AVAX/USD 1-day price chart, source: TradingView

The MACD line is seen to be crossing the red signal line from above, indicating a bearish market trend. The RSI is currently in bearish territory and is trending lower. The market looks like it is headed for further losses in the near term. The market volatility is currently at its lowest level in the past few days and this is likely to continue in the near term. The Bollinger Bands on the 1-day price chart are very narrow, indicating low volatility in the market.

Avalanche price analysis conclusion

To sum up today’s Avalanche price analysis, we can see that the market is in a clear bearish trend. Prices have been falling consistently over the past few days and today the intraday lows were reached at $21.51. The market looks like it is headed for further losses in the near term as the technical indicators are currently showing bearish signals.

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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