Avalanche worth evaluation exhibits that the bear market remains to be in management as prices have fallen below the $15.00 mark. This is a major decline, and plainly the market remains to be not prepared to flip round. The subsequent stage of assist is current at $13.5, and if this fails to maintain, we may see additional declines within the days forward. However, if prices handle to maintain above this stage, we may see a transfer greater within the brief time period.
The Avalanche worth has been on a steady decline for the final one month, with prices making decrease lows in the previous few days. Prices have now damaged below the $15.00 mark, and this has opened up the chance for additional declines within the days forward. The subsequent stage of assist is current at $13.5, and if this fails to maintain, we may see AVAX prices decline to the $11.00 stage.
Avalanche worth motion within the final 24 hours: AVAX prices may decline additional
Avalanche worth evaluation exhibits the prices opened the buying and selling session buying and selling at a excessive of $17.02. However, prices quickly begin to decline and the bears took management of the market. The worth reached a low of $14.72 earlier than closing the buying and selling session at $15.03. This is a lack of 11.22 % for the day. The quantity traded within the final 24 hours was $$656,912,996.87, whereas the market cap for AVAX is at the moment at $10.9 billion. The token is at the moment ranked in place 17 with a market dominance of 0.48 %.
The worth is buying and selling simply below the earlier assist line which represents the finnobacci retracement of 1.272. If this stage is breached, we may see a transfer to the following assist at $11.00.
The Relative Strength Index (RSI) on the day by day chart is at the moment at 35 and is indicating that prices are oversold available in the market. However, the Stochastic RSI is at the moment in bearish territory and is indicating that prices may continue to decline within the brief time period.
The MACD on the day by day chart can also be in bearish territory and is indicating that the bearish trend remains to be in command of the market. The bears nonetheless have the higher hand as the MACD line shall be shifting below the sign line within the subsequent few days. The Parabolic SAR is at the moment above the worth and is indicating a bearish market trend as the volatility available in the market decreases.
Avalanche worth motion on a 4-hours chart: Declining market trend
Avalanche worth evaluation exhibits within the final 4-hours AVAX prices have made a major change in worth as they break below the $15.00 stage. Prices have now discovered some assist at $13.5, but when this fails to maintain, we may see prices decline to the $11.22 stage within the days forward.
The 4-hour chart is indicating that the market is in a bearish trend as the worth is buying and selling below the 200 shifting common (MA) and the 50 MA. The MACD on the 4-hour chart is at the moment within the bearish territory as the MACD line is buying and selling below the sign line. The RSI on the 4-hour chart is at the moment at 34 and is indicating that prices are oversold available in the market.
The technical indicators are exhibiting a declining market trend, with the Parabolic SAR at the moment above the worth, and is indicating that prices may continue to decline within the days forward.
Avalanche worth evaluation conclusion
Avalanche worth evaluation exhibits the market is headed downwards and will goal the $11.22 stage if prices continue to decline. The bearishness available in the market could also be attributed to the overall massacre that has been witnessed within the cryptocurrency market over the previous few days. The technical indicators are at the moment exhibiting a bearish trend, and if this continues, we may see prices decline to the $11.22 stage within the close to future.
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