Avalanche Price Analysis: Will AVAX Retest $16.66 Level?


  • The current trading volume of Avalanche is at $352,663,142.00.
  • AVAX price flashes signs of bearishness on 7-days price chart.
  • AVAX/USD medium term support stood at $13.68.
  • Avalanche’s EMA(10) shows a upward trend.

26 April 2024 : In this article we will walk you through Avalanche price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for Avalanche, Is AVAX a good investment? Avalanche support & resistance levels etc. But before diving deep into the AVAX technical analysis, let us talk about the current market conditions.

Market Analysis

Over the last twenty-four hours, there was a down fall of -1.84 percent, bringing the entire cryptocurrency market to $2,359,424,737,847. The total trading volume stands at $74,690,251,497. Bitcoin shares 53.54 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price rising to $64,184.05 level after an upward movement of 0.63%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price increase of 0.8 percent reaching to $3,128.05 during the previous 24 hours.
While publishing this blog, BNB traded at $603.54, following a price change of -0.83%within the same time frame. SOL the native coin of Solana is down by -1.54 and currently trading at $142.68. Additionally, Cocos-BCX reached $0.60 after seeing a decline of -0.77% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.

Avalanche Support and Resistance

Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of Avalanche (AVAX)

AVAX Resistance Levels AVAX Support Levels
Resistance Level 1 $16.66 Support Level 1 $14.76
Resistance Level 2 $17.48 Support Level 2 $13.68
Resistance Level 3 $18.56 Support Level 3 $12.86

Avalanche Performance

The current Avalanche price is $35.13, with a trading volume of $352,663,142.00 in the past 24-hours. Currently, AVAX is down by -0.11% since yesterday with a market capitalization of $13,287,396,739.00 USD.

Avalanche Price Analysis

AVAX price analysis for 26 April 2024 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the Avalanche.

Moving Averages Price Indicator
Simple Moving Average (10) 15.99 Buy
Exponential Moving Average (10) 16.03 Buy
Simple Moving Average (20) 16.54 Buy
Exponential Moving Average (20) 16.50 Buy
Simple Moving Average (50) 17.73 Buy
Exponential Moving Average (50) 17.67 Buy

While AVAX’s Williams %R indicator is at -46.057 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range. The AVAX/USD Moving Average Convergence and Divergence (MACD) indicator is indicating a short-term sell signal as the MACD line is moving below Signal Line Which means bears are dominating in the market. The relative Strength Index (RSI) indicates that the AVAX coin is in oversold phase, as RSI is at 29.

Conclusions

There had been a negative trend for some time and it seems that the coin's recuperation will continue as long as it remains in the reddish area. You should only acquire crypto right now if you're prepared to hold it through the ups and downs of the crypto market.