The newest Avalanche value evaluation reveals bearish outcomes for the day, with the worth struggling one more loss. Persevering with the downtrend that initiated on Could 24, 2023, the worth has now decreased by $14. The short-term development line slopes downwards, indicating the prevailing affect of bears. As the worth continues its downward trajectory, it has now reached its lowest level previously 4 months.
AVAX/USD 1-day value chart: AVAX value takes a bearish slide, dropping to $14 in worth
Right this moment, the 1-day Avalanche value evaluation chart continues its bearish motion, following a chronic interval of losses. The AVAX/USD value has now reached its lowest level previously 4 months, plummeting to $14. The final time the coin was at this value stage was on January 11, 2023, when it skilled a sudden spike. Nevertheless, at this time it has declined after remaining above this stage for over 4 months. Over the past 24 hours, the coin has misplaced 1.01 % of its worth and has suffered a 4.64 % loss over the previous week, all attributable to the continuing bearish development.
The market volatility has been comparatively subdued, resulting in the higher Bollinger band worth of $16 and the decrease Bollinger band worth of $13. These ranges present help for AVAX as the worth nears the decrease band. Moreover, the Relative Power Index (RSI) rating is lowering, reflecting promoting strain and presently registering at 32. Though nonetheless inside the decrease half of the impartial zone, it’s trending in direction of the border of the oversold area. The shifting common (MA) is presently positioned at $14.44.
Avalanche value evaluation: Current developments and additional technical indications
Within the 4-hours Avalanche value evaluation, bearish indications are evident as the worth drops to $14, regardless of the preliminary upward breakout firstly of the buying and selling session. Over the previous 4 hours, there was a constant decline within the value, though it’s presently making an attempt to get better from the downward motion. Notably, the worth is presently under the shifting common worth of $14.10. Throughout this time interval, volatility has been excessive, with the worth experiencing speedy oscillations all through the day.
At current, the higher Bollinger band is at $14.9, whereas the decrease Bollinger band is positioned at $13.7. If the downward motion continues, the worth is predicted to strategy the decrease band quickly. Moreover, the Relative Power Index (RSI) rating is exhibiting indicators of decline, presently positioned at 34, which is under the typical stage. This implies that the worth is approaching the oversold area.
Avalanche value evaluation: Conclusion
Each the 4-hour and 1-day Avalanche value analyses point out that AVAX is dealing with challenges on the $14 stage and is actively looking for help because the bearish momentum persists. The value has been persistently declining for the previous three days. If the Relative Power Index (RSI), as noticed on the 4-hour chart, continues its downward trajectory and enters the oversold area, it might function one other indication of a possible extension of the bearish development.
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