Monday, November 28, 2022
 

Avalanche(AVAX) Performs a 13% Price Surge in the Last 7 Days

  • AVAX price prediction ranges from $19 to $25.
  • The coin’s price increased by 13% within the past seven days.
  • AVAX’s bearish market price prediction is $14.25.

According to CoinMarketCap, Avalanche is the fifteenth most valuable crypto by market cap, with a trading volume of $507,471,975.77 in the past 24 hours alone. Furthermore, AVAX prices increased from $17.94 to $21.65 throughout the last week, showing a 13% price surge. AVAX hovers at $21.63 with 295,666,573 AVAX in circulation. During the last 24 hours, AVAX has shown an increase of 5.53%.

AVAX/USDT 4-Hour Chart (Source: TradingView)

The above four-hour trading chart of AVAX/USDT shows that the price is in the first half of the channel, meaning people are buying AVAX rather than selling. During an uptrend, the RSI value of AVAX hovers at 72.76. The RSI tends to remain above 30 and should frequently reach 70 during an uptrend.

AVAX’s price is slowly reaching 200 MA on the four-hour chart, but when we compare it with the one-hour chart, the price is trading above 200 MA. When the price reaches 200 MA in the four-hour chart, we can expect turbulence where the price can go sideways for a while and is expected to break the 200MA or fall from that area.

AVAX/USDT 4-Hour Chart (Source: TradingView)

The current support area of AVAX lies at $17.5 to $18.2, while the resistance area lies at $23.2 to $23, according to the above four-hour chart. Another possibility for support is that AVAX can reach as low as $14.25. If the bulls can keep up with the current buying pressure, AVAX can reach $30.40. It is often recommended to wait for a few confirmations before entering the trade.

  • AVAX price prediction ranges from $19 to $25.
  • The coin’s price increased by 13% within the past seven days.
  • AVAX’s bearish market price prediction is $14.25.

According to CoinMarketCap, Avalanche is the fifteenth most valuable crypto by market cap, with a trading volume of $507,471,975.77 in the past 24 hours alone. Furthermore, AVAX prices increased from $17.94 to $21.65 throughout the last week, showing a 13% price surge. AVAX hovers at $21.63 with 295,666,573 AVAX in circulation. During the last 24 hours, AVAX has shown an increase of 5.53%.

AVAX/USDT 4-Hour Chart (Source: TradingView)

The above four-hour trading chart of AVAX/USDT shows that the price is in the first half of the channel, meaning people are buying AVAX rather than selling. During an uptrend, the RSI value of AVAX hovers at 72.76. The RSI tends to remain above 30 and should frequently reach 70 during an uptrend.

AVAX’s price is slowly reaching 200 MA on the four-hour chart, but when we compare it with the one-hour chart, the price is trading above 200 MA. When the price reaches 200 MA in the four-hour chart, we can expect turbulence where the price can go sideways for a while and is expected to break the 200MA or fall from that area.

AVAX/USDT 4-Hour Chart (Source: TradingView)

The current support area of AVAX lies at $17.5 to $18.2, while the resistance area lies at $23.2 to $23, according to the above four-hour chart. Another possibility for support is that AVAX can reach as low as $14.25. If the bulls can keep up with the current buying pressure, AVAX can reach $30.40. It is often recommended to wait for a few confirmations before entering the trade.

 

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