Avalanche Price Remains Positive But Could Experience Bearish Pull At This Level

Over the past 24 hours, Avalanche has shown positive movements. In the 24 hours since the start of the week, the coin appreciated by 3%.

AVAX soared in the last week to double its value, helping the coin end its sideways trading.

While the bulls have now taken control, altcoin should be able to surpass certain trading levels and continue the bullish momentum.

Avalanche, which had been moving up since the beginning of its chart movement, was showing a technical positive outlook.

AVAX’s demand has helped it slowly rise above its resistance level, which acts now as support.

The coin’s strong support was at $15 at the time, but once it broke through, there could be some resistance between the $18 and $19 price range.

It is possible that AVAX will continue to be demanded, and it could overthrow those levels. This would allow the altcoin not to be tied to lateral trading.

With a market capitalization of $1.03 trillion today, cryptocurrency was the largest global currency market. 0.8% negative change in the last 24 hours.

Avalanche Price Analysis: One-Day Chart

Avalanche Price
The one-day price of Avalanche for Avalanche was $17.76. Source: TradingView.com AVAXUSD| Source: AVAXUSD on TradingView

At the time this article was written, AVAX traded at $17.76. The $17 price mark has been a significant resistance point for altcoins, but bulls are now able to hold that level.

Avalanche must move above $18, which is the price resistance, to continue its bullish thesis.

It is possible that the coin will experience low demand.

It is clear that AVAX will break through $18 and then it will be on the path to $20.

AVAX might briefly rise to $16 before falling below the $15 mark if it traces.

Positive Avalance trading volume in the previous session indicated that buyers were also increasing.

Technical Analysis

Avalanche Price
Avalanche recorded an increase in buying power on the one day chart. Source: AVAXUSD at TradingView| Source: AVAXUSD on TradingView

The one-day chart showed a sharp recovery in buying pressure as Avalanche prices rose. As AVAX posted gains, buyers returned to the market.

Relative Strength Index showed positive results as it rose above the halfway mark, signalling that buyers are taking over altcoin.

Also, the Avalanche’s price was above 20-SMA. This is due to rising demand and considered bullish. Market momentum was being driven by buyers.

The chart also showed a buy signal for Avalanche, which indicated that buyers can take advantage of it to move the coin north.

Awesome Oscillator shows the momentum in the price and how strong the price movements are. AO represented a positive signal because it pictured green Histograms which were also a buy signal for AVAX.

Bollinger Bands indicate price fluctuations and potential for further volatility. On the chart, you could see that the bands were very narrow. This signal is frequently accompanied with explosive price movement in the next trading session.

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