Avalanche (AVAX) Price Analysis: Will Avax Reach $16.518 Level?

• The price of the Avalanche is trading at the price of $11.45. The coin’s price inclined by 0.90% in the last 24 hours.
• The Avalanche price is observing a decrease of 1.96% in the last 7 days.
• The market capitalization of Avalanche Finance Network is $3949397289.

Trend Evaluation

By evaluating the price data of Avalanche, it can be said that it is in a downtrend currently. The price declined by 1.96% in the last seven days and we can say that the Avalanche is underperforming right now. From its peak price of $144.96, it fell -by 92.10% in a year and demolished the investors’ wealth. The current market sentiments are not good. There is no big volume. Buyers are also not available in the current market scenario.

Avalanche Technical Analysis

EMA

 The price of Avalanche has slipped below 50 and 200 EMA and it suggests that the price is in a bearish trend. A death cross has been indicated recently which is also a negative sign.

RSI

The RSI line has been moving in the oversold zone. The RSI line is around 31.02. The 14 SMA has a value of 31.20 points. This indicates that the Avalanche market is in the oversold zone.

MACD

Right now, MACD is giving bearish views. The MACD line is below the signal line and both the MACD line and the signal line are beneath the zero line hinting the bearish sentiments about the price.

Trendline Analysis

The price has respected its major trendline and currently, it is going downward striking back by resistance of EMA’s. So, the price of Avalanche can continue to fall up to the next support, and currently, it following its trendline properly if it breaks the next support, it can go down more.

Volume Analysis

The Avalanche trading volume of 24 hours is $89020468  with a 0.20% decrease in volume in the last 24 hours. There is no substantial boost in the volume of the coin and that could happen because of a lack of buyers in the market.

Technical Levels

• Support – The current support level of the Avalanche is $11.329.
• Resistance –The current resistance level of the Avalanche is $16.518.

Conclusion

Avalanche (AVAX) is facing a difficult time in the market. According to the present data and analysis, we can say that it is in the bear’s control. The price action suggests that the price may fall more in the upcoming days and this is because the price broke its major trendline support level. Avalanche (AVAX) price shows a pessimistic scenario at the moment. Major reliable indicators like EMA, RSI, and MACD are giving negative signals about the Avalanche coin. The fear is growing among investors because of the poor performance of the coin.

Disclaimer

The following analysis is provided for informational purposes only and should not be considered as financial, Investment, or other advice. Investing and trading in Crypto coins involve the risk of capital loss.