Avalanche price analysis: AVAX is bullish at $18

Avalanche price analysis appears to be following a strong bullish movement, with the price going up, expecting to reach new highs. In the last 48 hours, the price has fallen to a significant degree. On March 18, 2023, the price crashed from $17.7 to $16.9, showing significant negative momentum. However, the bulls have intervened and the bull’s march doesn’t end here; today, on Match 19, 2023, the price has a minimum value of $17.5; however, the price has increased to a modest $18.

The current price of Avalanche (AVAX) is $18 with a 24-hour trading volume of $468.64 million. Its market cap is $5.84 billion, and it has a market dominance of 0.49%. AVAX has increased by 2.84% in the last 24 hours.

On November 21, 2021, Avalanche reached its all-time high of $146.18, and its all-time low was on December 23, 2020, at $2.79. The lowest price since the all-time high was $10.61, while the highest price since the last cycle low was $22.65. The current sentiment for Avalanche’s price prediction is bullish, and the Fear & Greed Index indicates a score of 63 (Greed).

Avalanche’s circulating supply is currently 325.54 million AVAX out of a maximum supply of 720.00 million AVAX. The yearly supply inflation rate is 21.97%, which has resulted in the creation of 58.64 million AVAX in the last year. In the Proof-of-Stake Coins sector, Avalanche is ranked #7 in terms of market capitalization. It is ranked #1 in the Avalanche Network sector and #11 in the Layer 1 sector.

AVAX/USD 1-day analysis: Latest developments

Avalanche price analysis indicates market volatility following an increasing trend, which means AVAX/USD prices are increasingly prone to fluctuating volatility. The open price for AVAX is currently $17.76, with a high price of $18.06. Conversely, the low price of AVAX is present at $17.74 with a change of 1.18% and a close price of $17.98

The price of AVAX/USD appears to cross over the Moving Average curve, signifying a bullish movement. As a result, bulls have been taking care of the market for the last few hours and will maintain their momentum. However, the price appears to show increasing dynamics by moving towards resistance. The bulls can maintain this trend if they play their cards right.

The Relative Strength Index (RSI) is 55, which puts cryptocurrency in a stable state. However, we can trace the RSI following an upward path in the central neutral region, indicating the dominance of buying activity. The price attempts to enter the inflation region soon, if that happens, the trend is sure to be reversed.

Avalanche price analysis for 7-days

Avalanche price analysis shows market volatility following an inclining trend, indicating that the probability of AVAX/USD experiencing fluctuations increases. The high price of AVAX stands at $18.02, with an open price of $17.6. Conversely, the low price of AVAX is present at $17.55 with a change of 1.98% and a close price of $17.95.

The price of AVAX/USD appears to be crossing under the Moving Average curve, indicating a bearish move. However, the market’s direction may seem to shift to a positive one over the last few days. Bulls attempt to take the market, which weakens the stance of the bears. However, the AVAX/USD price attempts to cross the moving average, indicating a possible breakout in the market.

Avalanche price analysis reveals that the Relative Strength Index (RSI) is 47, indicating a stable cryptocurrency. Furthermore, the price appears to have found an upward spiral and anchored itself to that movement; however, the point lies in the central neutral region, and the price will be forced to move against it sooner or later. The RSI follows an upward path exhibiting signs of the AVAX’s increasing value, a movement toward positivity, and dominant buying activities.

Avalanche Price Analysis Conclusion

The conclusion of the Avalanche price analysis indicates that the cryptocurrency behavior suggests that it is following a completely bullish trend with massive positive potential. The market has recently fallen under the bullish dominion and seems competent enough to maintain it. However, they have already engulfed the market, and the bears are on the ropes right now but might take over by storm in the coming days if they take advantage of the possible breakout.