- The price of the AVAX crypto is highly volatile, resulting in 5.24%.
- Avalanche crypto price is down by 75% from its all-time high price.
Avalanche (AVAX) is a scalable, eco-friendly blockchain platform launched in September 2020. It supports DeFi applications, enterprise solutions, and custom blockchains.
It is compatible with Ethereum and features three chains: C-Chain for smart contracts, X-Chain for fund transfers, and P-Chain for staking. AVAX handles 4,500 transactions per second securely and efficiently.

The fear and greed index of the Avalanche crypto is at 70, which indicates greed among crypto investors.
The supply inflation of the Avalanche is also high at 14.99%, followed by a circulating supply of 382.884M AVAX.
The total value locked for the crypto has also been advancing over the last few days, resulting in $974.02M. Moreover, the current stablecoin market cap of the crypto at press time is $1.915B.
Avalanche Crypto Derivatives Analysis

The AVAX crypto has witnessed a long/short ratio of 0.9324 over the last 24 hours, representing bears’ dominance in price.
Moreover, the recorded long liquidation of the crypto is much higher, resulting in $785.52K. Against this, the short liquidation for Avalanche values $92.80K.
The derivatives trading volume had also advanced by 22.9%, followed by a decline of 1.5% in the crypto’s open interest.
AVAX Crypto Technical Analysis

The price of the AVAX crypto is traded in a range-bound zone followed by the lower-low structure formed on the daily timeframe chart.
If the crypto’s price further breaks above the consolidation zone on the higher side, it might attract more buyers, leading to a further surge in the trading price of the crypto.
AVAX/USD Chart by TradingView
The 50-day and the 200-day EMAs on the daily chart of the AVAX crypto are trading in a golden cross while the crypto’s price seems to be in a low momentum. Moreover, the price of the crypto is revolving around the given EMAs.
The MACD metrics are trading in a golden cross but are stuck in negative territory. It represents uncertainty in the trading price of the crypto. The histograms are also low on interest.
The RSI further recently broke above the 50-level and the 14-day SMA and is currently taking support at the level of 50.0. That exhibits the possibility of positive momentum in the future.
Summary
AVAX is currently trapped in consolidation, with its price down 75% from its all-time high. The fear and greed index indicates greed. However, high supply inflation and bearish dominance, as shown by a long/short ratio of 0.9324 and significant long liquidations, suggest potential downward pressure on the price.
If the AVAX trading price successfully breaks the higher levels, it might face resistance at $50.0 and $65.0, while the support levels for the crypto are $15.0 and $27.50.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.