TL;DR Failure

  • Avalanche price analysis is bullish today.
  • Support is at $68.50.
  • Resistance for AVAX is at $72.2.

Avalanche price analysis is bullish as the bullish momentum continues, with prices rising today. After being rejected on February 2 at $ 73.5, the price fell to $ 67.9, but the bulls are once again in control and have dominated the price function since yesterday. The bulls have recovered and are still progressing today; moreover, an improvement is expected for the day as well.

AVAX/USD 1-day price K-chart: Price rallies to $70

The 1-day price K chart from Avalanche Price Analysis shows that the bulls have been in control of the price K chart for most of the past week, and the trend is the same today. Prices have also risen in the last 24 hours as they climbed above $70, up 3.41% in the last 24 hours. The bullish trend is also expected to intensify further in the next few hours.

AVAX/USD 1-day price K-chart. Source: TradingView

AVAX volatility is slowly declining as the Bollinger bands converge with the upper band at the $89 mark, representing the strongest resistance, and the average mean of the Bollinger bands is at the $71.8 mark. The lower swing trade price of $54 is the strongest support for AVAX/USD. Today's price also exceeded the moving average (MA) of $69, which is also a bullish cross.

The Relative Strength Index (RSI) is trading at index 43 in the lower half of the neutral zone with a slight skew, suggesting relatively high buying activity.

Avalanche price analysis: recent developments and further technical indicators

The 4-hour Avalanche price analysis shows that prices broke down today, but the bulls quickly overtook late in the night and continued to cover the range to the upside for the next 8 hours. At the time of writing, the bulls continue to lead and have raised the price to the $70 level.

AVAX/USD 4-hour price K-line chart. Source: TradingView

The 4-hour chart is slightly more volatile and the Bollinger bands do not show any signs of change. However, the average mean of the Bollinger bands is $69.9, slightly below the price level supporting AVAX. The RSI also shows an upward trend, indicating buying activity in the market.

Avalanche Price Analysis Conclusion

Avalanche price analysis shows that the value of the cryptocurrency has risen considerably today as the price has been rising for the past eight hours. We expect AVAX / USD to continue rising in the coming hours, with bulls marching towards the $72 resistance level.

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