- AVAX’s daily price range is between 50 and 200 EMA.
- The price continues to fall and aims to rise to the $20 mark.
- AVAX closes trying to get out of the downtrend in a short timeframe.
Although Avalanche’s (AVAX), price failed to rise above the chaos of the bear markets against tether USDT (USDT), Many predicted that the AVAX project would cause a significant upset to many other crypto projects, with a dramatic rise in the Avalanche price (AVAX), from $10 to $145. AVAX has not been exempted from adverse market statistics, as the CPI and FOMC have both impacted the market. Data from Binance
Weekly Chart: Avalanche (AVAX), Price Analysis
AVAX’s price has been falling as it seems unlikely that AVAX will see a significant bounce following its loss of its weekly support at $25. The weekly chart shows the price looking to recover its $10 support.
AVAX is trading above the $10 support level. AVAX must break this downtrend, which has been ongoing for many weeks. The price would drop to $20-25 if it were to break.
The price of AVAX must break the $20 barrier and stay above it to protect the market from rising. The price could drop if AVAX continues to reject $20.
Weekly resistance for the price of AVAX – $25.
Weekly support for the price of AVAX – $15-$10.
Pricing Analysis of AVAX on the Four-hourly (4H), Chart
AVAX’s 4H price range continues in a downtrend as the price attempts breakout. This may indicate that there is a temporary bounce in the low-timeframe.
AVAX prices trade at $17.4 under the Exponential Moving averages (EMA) 50 and 200. This is a resistance price for AVAX. AVAX price resistance is located at 200 EMA and 50 EMA. The AVAX price price price range of $17.7 to $20. AVAX must reclaim 200 EMA in order to have a trend of $25-30.
Four-Hourly resistance for the AVAX price – $20-$25.
Four-Hourly support for the AVAX price – $17-$15.
Analyse of AVAX on Chain
Many investors have started to build on Avalanche’s network. However, the Avalanche has had a tough time price-wise during the bear seasons. AVAX’s price, calculated from the on-chain information, has shown some improvement in 24 hours. This is compared to the previous week.
Featured image from Daily Hodl and Charts from Tradingview and Messari