Avalanche price analysis Bulls struggle to maintain the $21 level as selling pressure builds up

The avalanche price analysis illustrates the observed bullish momentum that gripped the market for AVAX/USD during the previous week. A green candlestick appears on the chart with some corrections also due to the bearish practice. Today the price level has risen to $21.4, but selling pressure has also increased, the price is currently falling again. However, the losses are under control so far, but if the selling pressure builds up then the trend could turn completely downwards.

AVAX/USD 1-day price chart: downward movement temporarily restrains the upward price movement

Avalanche one-day price analysis dictated a price spike after the market faced bearish turbulence the previous day, but the bulls soon came to the rescue and continued to lead higher. The small green candle indicates appreciation as the current price is $21.4 and the coin’s value is up 13.89% over the last 24 hours, which is an encouraging sign for buyers.

Avalanche price analysis
Avalanche price analysis

The observed volatility is low, which is a promising signal for future buyers. The highest Bollinger Bands is $21.6 which is resistance and the lowest is $15.4 which is support for AVAX. The moving average (MA) on the one-day AVAX/USD chart is $19.3, while the average Bollinger Bands is $18.5. The Relative Strength Index (RSI) chart shows a slight horizontal movement with a reading of 57, indicating a downward movement.

Avalanche Price Analysis: Recent Developments and Additional Technical Indications

4 hour candlestick chart showing Avalanche price analysis showing today’s earnings for cryptocurrency holders. The last few hours have been critical for cryptocurrencies as the selling pressure has returned and the current price level has dropped to $21.4.

The moving average (MA) is $20.4 below the current price. The trend line follows an uptrend with volatility increasing every hour as the Upper Bollinger Band reaches $21.8 and the Lower Band reaches $17.7. The RSI started to fall after touching the border of the overbought territory, and currently the value of the RSI is 67, which is still a higher value, but the indicator curve is downward indicating selling activity in the market.

The available avalanche price analysis technical indicators speak for the buyers, as was the case today. There are 26 indicators in total, seven indicators relate to sellers, nine are neutral and another 10 technical indicators are in favor of buyers.

Avalanche Price Analysis: Conclusion

Avalanche price analysis shows that the price of the cryptocurrency is trending up today as the price jumped to $21.4. On the other hand, if the uptrend that started back a few hours ago continues in the near term, there is a high probability that the support will push the price even above $22. On the other hand, if the selling pressure continues, the price could rise back to the $20 level.

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