- Avalanche price is trying to recover back from the lower levels over the daily price chart.
- The crypto asset is still behind the 20, 50, 100 and 200-days Daily Moving Average.
- The pair of AVAX/BTC is at 0.000843 BTC with an intraday gain of 5.01%.
Avalanche price is trying to recover from the crucial demand zone over the daily price chart. The token at first got rejected from the descending triangle pattern and then went into a consolidation phase. However, AVAX bulls are typing to accumulate themselves to recover the token from the lower levels. AVAX must gain steady uptrend momentum over the daily price chart. AVAX investors need to wait for any directional change over the daily price chart.
Avalanche price is presently CMP at $17.78 and has gained 6.56% of its market capitalization in the last 24-hour period. However, trading volume has decreased by 6.43% in the intraday trading session. This shows that bears are trying to accumulate to pull the token back from the recovery phase. Volume to market cap ratio is 0.0869.
AVAX coin price is trying to recover from the lower levels and is trading with uptrend momentum over the daily chart. However, volume change can be seen below average and needs to grow for AVAX to maintain the uptrend momentum of the token. Meanwhile, the crypto asset is still behind the 20, 50, 100 and 200-days Daily Moving Average. Support on the lower end is at $14.00 and resistance on the higher side is at $20.00.
What do Technical Indicators Suggest about AVAX?
AVAX coin is trying to recover with uptrend momentum from the lower levels. The token is trying to accumulate bulls in order to recover upto a respectable level. Technical Indicators suggest the uptrend momentum of AVAX coin. Relative Strength Index showcases the bullish momentum of AVAX coin. RSI is at 39 and AVAX investors can expect any directional change upto 50.
MACD exhibits the uptrend momentum of AVAX coin. The MACD line is ahead of the signal line after a positive crossover.
Conclusion
Avalanche price is trying to recover from the crucial demand zone over the daily price chart. The token at first got rejected from the descending triangle pattern and then went into a consolidation phase. Volume change can be seen below average and needs to grow for AVAX to maintain the uptrend momentum of the token. Technical Indicators suggest the uptrend momentum of AVAX coin. RSI is at 39 and AVAX investors can expect any directional change upto 50.
Technical Levels
Support Level: $14.00
Resistance Level: $20.00
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.